The combined grand opening of Tempo (Phase I) and groundbreaking of Tandem (Phase II) marked the halfway point of transforming Parcel 9 into an affordable housing development in the Fox Point neighborhood of Providence, RI. Our developer partners at Pennrose, the I-195 Redevelopment District Commission, the City of Providence, and city and state officials spoke at and attended the celebration of this mixed-income, mixed-use community.
Financed by "twinning" 4% and 9% LIHTCs, Tempo (Phase I) now provides 66 high-quality apartments including 48 affordable units for households earning between 30-120% of the area median income (AMI) and 18 market rate units. The ground floor is home to a large childcare facility run by Children's Friend, a locally based nonprofit that serves Rhode Island's vulnerable children and families.
Once completed, Tandem (Phase II) will add 61 more affordable, workforce, and market rate apartments to the neighborhood. Between the Tempo and Tandem, the complex will provide an elevated quality of life for residents and will include amenities such as a rooftop deck, resident lounge, fitness center, and an outdoor courtyard and play area.
NEF is proud to be involved in a development that has revitalized land formerly part of the I-195 before it moved in 2011 into safe, stable and affordable housing. And thank you to Tony Lyons for representing NEF at this dual event!
Learn more here.
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