Projo Biz Blog

Rhode Island Housing's board of directors this morning approved spending $250,000 for four community developments aimed at preserving open space and minimizing resource use.

The "KeepSpace" proposals chosen for the funding are in Westerly, Pawtucket/Central Falls, Cranston and Providence's Olneyville section, said the state housing agency's executive director, Richard Godfey.

The developments will combine a mix of rental and owner-occupied homes, including "affordable" housing, along with commercial work space and stores. Details of the proposals will be released at news conference at 3:15 this afternoon at Johnston & Wales University, 321 Harborside Boulevard, off Allens Avenue in Providence.

Last August, the agency pledged $10 million to support the development of more integrated communities, designed to preserve open space. The agency, which has seen its state funding slashed in the wake of state budget cuts, had set aside $1.5 million for fiscal 2008, but will now spend just $250,000 to get the developments started, Godfrey said.

---