TRAC Builders Completes $9 Million Affordable Housing Development for Olneyville Housing Corporation

Published

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TRAC Builders was hired by Olneyville Housing Corporation to develop 40 new affordable homes and three new community spaces in the Manton Avenue area of Olneyville in Providence as part of Rhode Island Housing’s KeepSpace Community initiative- a holistic approach to community planning, design, and development.  Olney Village apartments are concentrated around the William D’Abate Elementary School where 12 formerly foreclosed properties and several vacant lots along 6 residential blocks were transformed.  This project required substantial renovations to be made to 11 existing buildings as well as 5 new construction buildings in previously vacant lots.  The new community spaces are occupied by the Olneyville Food Center, a food pantry providing emergency food provisions to more than 7,000 families per month as well as the Manton Avenue Project, a community group  that mentors and teaches theater and playwriting skills to children.

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TRAC Builders exceeded expectations on this project, allowing Olneyville Housing Corporation and their investors to reach an immediate return on their investment.  The project was released in phases, allowing OHC to lease up the apartments immediately upon release.  The day that the units were released to OHC, future residents were signing leases and moving in the next day.  All 40 apartments were fully occupied the day after the ribbon cutting ceremony.   

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Since the William D’Abate School is such a neighborhood asset and key element in the comprehensive revitalization strategy that Olneyville Housing Corporation is working hard to create, TRAC felt it was important to help OHC in their mission of neighborhood revitalization.  TRAC Builders has committed to make significant improvements to the school’s exterior over the summer months to further enhance the neighborhood improvements.  Stay tuned future updates on this exciting service project. To read the full press relase from RI Housing click link: RI Housing Press Release (pdf)

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