Featured Project – Olney Village

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The Olney Village development is concentrated around the William D’Abate Elementary School in the Olneyville neighborhood in Providence. Olneyville Housing Corporation transformed 12 formerly foreclosed properties and several vacant lots into 40 affordable homes and 3 community spaces for area nonprofits. The entire development is spread throughout 16 buildings along six residential blocks, and is bordered by Manton Ave.

The Manton Avenue Project moved into its new Clubhouse at 51 Putnam Street, a building that had been vacant for more than a decade but now provides homes for four families as well as the first floor Clubhouse.

The Olneyville Food Center will occupy 1,900 square feet of space in a newly constructed mixed use building at the corner of Manton Avenue and Pope Streets. The food bank serves thousands of people monthly and the closure of St. Teresa’s Church had threatened the future of this critical resource.

In the past five years LISC has provided Olneyville Housing Corporation with $460,000 in Capacity Building grants. The organization has grown from 5 staff to 9 staff members. In 2006, the organization was completing one large project every three years; they currently have a pipeline that includes two major commercial projects and 3 large scale affordable rental properties. LISC provided Pre-Development Financing and Equity Investments into this project totally $9,192,310.

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