A new mixed-use development that will include 44 affordable apartments at a variety of income levels - and nearly 2,000 square feet of street facing commercial space along Elmwood Avenue.

For years the parcel at 327 Elmwood has been a vacant lot surrounded by a chain link fence – sitting empty amid an active neighborhood along Elmwood Avenue. In addition to creating much needed affordable housing, the project will also fill in a gap in the community’s streetscape that has been underutilized for too long. The commercial spaces will be leased to community focused entities (as yet to be determined).

Households who earn between 30% and 80% of the Area Median Income will be eligible to rent the residential units, which will include studios, one-bedroom and two-bedroom units. 

To see if you qualify for this and other affordable homes, please visit: https://www.myhousingsearch.com/dbh/MFICalculator.html?ch=RI&city_id=49687 

The Providence Redevelopment Agency (PRA) has been the owner and steward of the parcel at 327 Elmwood for a number of years. In 2024 Women’s Development Corporation (WDC) was awarded rights to develop the parcel into affordable housing through a competitive RFP process. Since obtaining development rights, the PRA and WDC have partnered to facilitate community outreach and to identify potential commercial tenants that would best serve the neighborhood.

WDC has applied for funding from the City of Providence and will also seek funding from the Providence Redevelopment Agency and Rhode Island Housing. As one of Rhode Island’s oldest community developers, Women’s Development Corporation will also be investing in the project through an equity investment in the project.

WDC’s in house management company – Housing Opportunities Corporation (HOC) – will provide full-time on-site management at 327 Elmwood. HOC is one of the most experienced management companies in New England; caring for over 1,300 apartments throughout Rhode Island and Southeastern Massachusetts.

A regular course of both maintenance work and scheduled capital repairs will be built into the budget for the project. WDC is working with Union Studio – a nationally recognized architecture firm located in Providence – to ensure that the building and systems are designed to facilitate sustainable longevity while remaining attractive and true to the character of the neighborhood.

Summer 2025 – Secure Funding and Commercial Tenants 

Fall 2025 – Close on Financing and Begin Construction

January 2027 – Target Opening Date 

WDC presently owns and operates 332 units of affordable housing in the City of Providence.

Attend a community meeting about the project – dates and times to be announced. 

Apply to join the waiting list for this and other affordable properties - https://www.housingsearchri.org/index.html.4.

Watch progress at the site! Work is slated to begin this fall, with regular updates provided on this page.