327 Elmwood Avenue, Providence, RI
Elmwood Ave Village is a six-story senior living apartment complex with 39 one bedroom rental units available to those earning 30-60% of the area median income.
CICD partnered with the Karsten Companies to finance and develop the
Elmwood Village Senior Apartments.
The site is a vacant 0.22-acre parcel at the intersection of Elmwood Ave and Burnett St. This will be a new construction of 35,000 square foot building that includes a community room that will offer flexible uses for up to fifty people. An adjoining kitchen can be used for resident functions, Meals
On Wheels delivery and distribution to
the households and other non-resident community meetings by local not-for-profit organizations that lack access to space.
• 39 Units
• Approximately 34,794 GSF
• Target completion date: Spring 2023
• Financed with 9% Tax Credits,
RI Housing Perm, City of Providence
Funds, RI Housing AHT and deferred
developer fee
• All 39 units range from 30%-60% AMI
FACTS