State housing agency OKs financing for Lippitt Mill project - News - providencejournal.com
Christine Dunn Journal Staff Writer ChristineMDunn
PROVIDENCE, R.I. — Commerce Secretary Stefan Pryor on Thursday morning lauded a vote by the Rhode Island Housing Board of Commissioners to approve final financing for the Lippitt Mill Apartments development in West Warwick. The mill, the second-oldest in Rhode Island, will be reused as 65 apartments, including 28 affordable units , Eric Shorter of Rhode Island Housing told the board. The total project cost is $15.9 million, including $2.3 million in Rebuild RI tax credits . Developer Kristopher Shaw said there will be a groundbreaking this fall, and he hopes construction will be completed by next summer. Board member Kevin Orth said that in addition to providing needed mixed - income housing , the project includes the preservation of a site with "historical and cultural significance," and it will also accomplish environmental remediation of the property. Currently vacant and uninhabitable, the site requires freq...