In the spring of 2013 Omni Development Corporation and Winn Development opened the doors to Phoenix Apartments in Providence, RI. The 83 units of scattered site housing has been reborn out of one of the worst developments in the Department of Housing Urban Development’s portfolio. Medina Village was comprised of 26 buildings that were in such a state of disrepair that they had to be stripped down to the studs or demolished. Omni/Winn was able to both retain the original number of units while reducing density by acquiring and rehabilitating additional vacant properties. Today there are new or completely rebuilt rental homes located on various properties along Althea, Waverly, Bellevue, Hanover, Cranston and Waldo streets along with community space on Cranston Street in Providence’s West End.
The project includes a green pilot program. Omni Development Corporation is partnering with National Grid under the national Grid Deep Energy Retrofit Program. As a result six rental units in two buildings were re-designed with extra insulation, triple paned windows, high efficiency boilers and superior air handling systems which meet the highest standards of energy conservation.
The $20.9 million development included funding from the Neighborhood Stabilization Program and Low Income Housing Tax Credits. LISC ‘s affiliate National Equity Fund was the LIHTC syndicator.