Rhode Island’s economy continues to grow under the leadership of Governor Gina Raimondo and the General Assembly, and we’re proud to say that Rhode Island Housing played a significant role.
Last year, Rhode Island Housing contributed $650 million to the state’s economy with investments in housing development, homeownership, rental assistance, and help for Rhode Island homeowners.
2016 highlights include:
- Financed the development and preservation of almost 1,200 homes, a 60% increase over 2015. This represents a $160 million investment in communities throughout the state that supports 820 well-paying jobs.
- Helped over 1,600 Rhode Islanders purchase a home. That’s the highest one year total in our history and almost 30% higher than 2015.
- Opened a new line of business by taking on servicing of MaineHousing’s half-billion dollar loan portfolio.
- Rolled out new foreclosure assistance through the Hardest Hit Fund thanks to $36 million in federal funding secured by our Congressional delegation.
- Provided more than $175 million in federal rental assistance. This includes place-based support to over 15,000 apartments and person-based support to 1,700 households.
In the year ahead, we’re looking forward to helping the state put the $50 million Housing Opportunity Bond to work creating more homes and jobs for Rhode Islanders. And that’s just the beginning of what we have planned.
As we develop new programs and continue to support our existing programs, Rhode Island Housing is positioned to help even more Rhode Islanders in 2017.