First Wave of New Rhode Island Housing Programs Announced

“Rhode Island isn’t just talking about the housing crisis; we’re building our way out of it,” said Governor McKee. “The programs we are opening today, and those to follow, will expand opportunities for homeownership, build and preserve affordable housing, and give communities the resources they need to help us reach our Housing 2030 goals.”

Applications are now open for the following housing bond programs:

• Housing 2030 Infrastructure Program – Provides up to $8 million for municipalities and developers to offset the cost of essential infrastructure (such as water, sewer, septic systems, and roads) that make new housing development possible. Municipalities and developers are encouraged to apply.
• Housing 2030 Municipal Planning Program – Provides up to $1 million to assist municipalities with architectural and engineering work to advance strategic housing development projects aligned with Housing 2030 goals. Municipalities are encouraged to apply.

On Thursday, the McKee Administration will open its One-Stop Application process through RIHousing, making available an additional $66 million in housing bond funds alongside other state and federal housing resources.

The One-Stop Application will include the following funding from the housing bond: 

• Housing 2030 Permanent Supportive Housing Program – up to $12 million to support a new set-aside for the development of small-scale permanent supportive housing with wraparound services for households needing additional support to maintain stable housing.

• Housing 2030 Small Scale Program – up to $12 million to support a new set-aside for the development of new affordable rental housing between 5 and 30 units in rural, smaller, and infill communities where traditional financing is limited.

• Housing 2030 Affordable Rental Housing New Development Program – up to $27 million to extend a flexible funding program focused on supporting the production of new affordable rental developments.

• Housing 2030 Preservation Program – up to $10 million ($5 million from the 2024 bond from the Executive Office of Housing, which is matched by $5 million in non-bond funding from RIHousing Affordable Trust) to preserve and rehabilitate existing affordable housing nearing the end of its affordability period.

• Housing 2030 Acquisition and Revitalization Program – $10 million to redevelop foreclosed, blighted, or vacant properties, helping to stabilize neighborhoods and strengthen local economies.

On November 15, applications will open for the new Housing 2030 Statewide Home Repair Program, administered by the Providence Revolving Fund and supported with up to $6 million in bond funding. The program provides assistance to low- and moderate-income homeowners, as well as landlords who commit to renting to tenants with incomes at or below 80% of the Area Median Income (AMI). Interested applicants can learn more at www.revolvingfund.org.

An additional $39 million in bond-supported programs will launch in the coming months, including:

• Up to $20 million to support homeownership initiatives
• Up to $10 million for public development
• Up to $4 million for a pipeline expeditor fund to accelerate project timelines
• $5 million for site acquisition
• Today, the Rhode Island Executive Office of Housing is releasing a Request for Proposals (RFP) seeking a qualified partner to administer the Site Acquisition Fund, a new revolving loan program that will help nonprofit developers acquire properties for affordable and supportive housing across Rhode Island. The selected administrator will oversee the fund, underwrite loans, and leverage at least a one-to-one match in philanthropic or other financing sources to maximize impact.

The full RFP is available on the State of Rhode Island Division of Purchases website, and proposals must be submitted by November 19, 2025.