Providence City Approves Mixed-Use Developments for Affordable Housing

Categories: Business NewsConstructionNewsReal Estate & Properties

Architectural rendering of the approved mixed-use developments in Providence.

News Summary

The City of Providence has given the green light for multiple mixed-use developments aimed at increasing affordable housing and commercial spaces. Notable projects include a six-story building along Interstate 195 and a redevelopment of the former Peter Pan Diner site on Elmwood Avenue. Together, these initiatives will add nearly 100 apartments and various commercial units, demonstrating the city’s commitment to enhancing community living standards.

Providence City Approves Mixed-Use Developments for Affordable Housing and Commercial Space

Providence, Rhode Island — The City of Providence has approved multiple mixed-use developments aimed at addressing the need for affordable housing and commercial space. The projects, designed by developer D+P Real Estate Inc., will bring nearly 100 apartments and commercial units to key locations in the city.

The first project is a six-story mixed-use building along Interstate 195, which will span 240,000 square feet and house nearly 100 residential units along with a new headquarters for Bank Rhode Island. After several public meetings and revisions, the development finally received official approvals.

Approval of Mixed-Use Building on Chalkstone Avenue

In addition to the I-195 project, city officials have greenlit a new mixed-use building at 551 Chalkstone Avenue. This development will offer 23 residential units mixed with one commercial unit in the Smith Hill neighborhood. The residential offerings will include a combination of one and two-bedroom apartments.

This new structure will occupy a 4,100-square-foot vacant corner lot located at the intersection of Chalkstone Avenue and Camden Avenue. The designed building will reach five stories and a height of 55 feet, surpassing the standard four-story, 50-foot height limit due to the inclusion of a 700-square-foot commercial unit on its ground floor. The basement will provide storage and bicycle parking for residents.

As the property meets the criteria of being less than 10,000 square feet, no additional parking spaces were mandated for the development.

Elmwood Avenue Project Set to Revitalize Former Diner Site

Another noteworthy project includes the redevelopment of the former Peter Pan Diner site at 327 Elmwood Avenue. This new five-story mixed-use building will feature 44 residential apartments along with commercial space on the ground level. The proposed apartments will cater to households earning 80% or less of the area median income (AMI), specifically targeting families earning between approximately $66,650 and $85,700 based on their size.

The nearly 9,500-square-foot lot where the diner once operated has been vacant for years. The Peter Pan Diner, which opened its doors in 1953, was a popular all-night eatery that saw several ownership changes over the decades before its demolition. The property was previously owned by Johnson & Wales University, which transferred it to the Providence Redevelopment Agency in 2006. Last year, the lot was assessed at $200,200.

The Women’s Development Corporation secured the diner site after the city sought bids for its redevelopment. The new residential units on Elmwood Avenue will include a mix of studios, one, and two-bedroom apartments. Similar to the Chalkstone Avenue project, no parking spaces for cars are included in the design, though there will be dedicated space for bicycles.

Future of Affordable Housing in Providence

These developments underscore the city of Providence’s commitment to increasing affordable housing options while simultaneously revitalizing neighborhoods and commercial spaces. Although the construction timelines for both projects are still undetermined, the swift approval of these plans reflects encouraged support from city officials in enhancing community living standards.