Aaron Briggs Housing to be preserved as affordable housing for seniors

A BOSTON-based nonprofit has collaborated with Rhode Island Housing to purchase the 88-unit Aaron Briggs Manor in Providence, which will be preserved for affordable housing for senior citizens. / COURTESY UNION STUDIO
A BOSTON-based nonprofit has collaborated with Rhode Island Housing to purchase the 88-unit Aaron Briggs Manor in Providence, which will be preserved for affordable housing for senior citizens. / COURTESY UNION STUDIO

PROVIDENCE – A Boston-based nonprofit has collaborated with Rhode Island Housing to purchase the 88-unit Aaron Briggs Manor in Providence, which will be preserved for affordable housing for senior citizens.
The building is less than a mile from another property owned by Preservation of Affordable Housing, the Grace Apartments.
Aaron Briggs Manor, at 301 Cranston St., built in 1977, will be renovated under a design created by Union Studio architects. The contractor will be NEI Construction. Renovations to the common building and individual apartments will include new energy efficient windows, exterior improvements, updated kitchens and bathrooms and accessibility modifications, according to a news release.
The Boston-based Preservation of Affordable Housing (POAH) announced its purchase of the building on Thursday. The transaction closed several months ago. Renovations are anticipated to begin in the fall, and will be conducted in such a manner as to reduce the impact to residents, according to the Union Studio website.
The purchase was completed with a bridge loan through Rhode Island Housing and additional financing from the Local Initiatives Support Corporation.
The sale price was not disclosed. According to the Providence assessor’s office, the property was valued at nearly $4 million in 2014. The previous owner was listed as NE Realty Trust.
POAH owns and operates nearly 8,500 homes at 70 properties in nine states, as well as Washington D.C., according to the organization’s website. The Aaron Briggs property is its 11th purchase in Rhode Island.
The nonprofit owns and operates apartments and housing for low-income families and senior citizens in North Kingstown, Narragansett, Johnston and Providence. Under the affordable housing guidelines, occupants pay no more than 30 percent of their income for rent.

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