Fox Point Parcel 9
Update
06/27/23
Pennrose Closes on Financing for Parcel 9 in Fox Point
Pennrose has closed on financing for their first project in Rhode Island. Located in the Fox Point neighborhood of Providence, Parcel 9 Phase I will transform the vacant I-195 Redevelopment District parcel into a mixed-use, mixed-income family development. Once complete, the five-story building will offer 66 high-quality, affordable & market-rate apartments, 1,100+ square feet of retail space, and 6,800+ square feet dedicated to affordable child care operated by Children's Friend, a Providence-based nonprofit.
Project partners include The State of Rhode Island’s Housing Resource Commission, the City of Providence, the Providence Redevelopment Agency, the I-195 Redevelopment District Commission, the National Equity Fund, Inc., Eastern Bank, the Federal Home Loan Bank of Boston, and Cedar Rapids Bank & Trust.
