News

RIHousing Acquisition and Revitalization Program

One of the steps RIHousing is taking to address the state’s housing crisis is to open a competitive funding round for the Acquisition and Revitalization (ARP) Program. Approximately $6.2 million in funding is available to redevelop blighted properties; 75% of the funding will be set aside for urban communities. The program will be conducted statewide.

ARP provides an incentive to qualified developers to purchase and redevelop blighted properties in Rhode Island. Financing is available to non- and for-profit developers, municipalities and public housing authorities. Eligible properties include residential, commercial and vacant lots located in Rhode Island that are determined to be blighted and that are part of a revitalization plan or strategy.

Applicants should review the ARP guidelines and reach out to members of our Development staff for further details (Eric Alexander at ealexander@rihousing.com or Belinda Lill at blill@rihousing.com).