Mayor Brett Smiley Urges Providence to Support $25 Million Housing Bond

Thursday, October 22

Event at Summer Street Apartments highlights housing progress and opportunity to expand investment through local and state bonds

Mayor Brett P. Smiley today gathered with Lieutenant Governor Sabina Matos, Senator Jake Bissaillon, City Council President Rachel Miller, Housing Secretary Deborah Goddard, Housing Network of Rhode Island Executive Director Melina Lodge, Crossroads Rhode Island Chief Operating Officer Jennifer Schanck-Bolwell, housing advocates, community partners and neighbors at Summer Street Apartments to encourage Providence to vote yes on Question 6, which would authorize a $25 million bond to finance affordable multifamily housing through the Providence Housing Trust Fund. Mayor Smiley also urged support for the statewide housing bond, emphasizing how local and state investments can work together to create more homes Providence residents can afford.

"Providence is making real progress building more homes, but too many of our neighbors still struggle to find a place they can afford," said Mayor Brett Smiley. "In the last fiscal year, nearly 1,000 new homes were completed in our city, and approximately 40 percent were affordable. Voting yes on Question 6 will help us build on that progress, investing another $25 million in affordable housing and bringing more developments like Summer Street Apartments to life."

Under Mayor Smiley's leadership, Providence has expanded housing production, bringing a total of nearly 3,000 new units online since FY2023, with 25% affordable to low/moderate income residents. The Providence Housing Trust Fund has been central to that work. To date, Providence has committed more than $58.7 million through the fund, supporting more than 1,700 deed-restricted affordable homes and helping unlock over $1 billion in public and private development investment. Question 6 would replenish this resource, providing additional funding to help close financing gaps and move affordable multifamily housing developments forward.

"As a resident of Providence, I know firsthand how our housing crisis is pushing working families out of the city they call home," said Lieutenant Governor Sabina Matos. "I am proud to support Question 6 so that we can fund the construction of affordable multi-family housing projects. We need to do more to ensure that every resident in the City of Providence has a place that they can call home."

"Providence needs more homes that our neighbors can afford, and building them requires sustained public investment," said Senator Jake Bissaillon. "That's why I sponsored legislation to put this $25 million housing bond before Providence voters. By voting yes on Question 6 and the statewide housing bond, we can build on our progress and help more families find a stable, affordable place to call home."

Developed by Crossroads Rhode Island, Summer Street Apartments includes 176 affordable apartments. The development brought together City, state, federal and private funding, demonstrating how coordinated investment can turn housing plans into completed homes.

"Every affordable home we create gives someone the opportunity to build a more stable future," said Michelle Wilcox, President and CEO of Crossroads Rhode Island. "At Summer Street Apartments, City and state investments helped make that opportunity possible for 176 households. Voting yes on Questions 6 and 2 will help us bring together the funding needed to create more affordable homes and help more of our neighbors move out of homelessness."

The City's proposed bond would complement the statewide housing bond, Question 2, which would authorize $120 million for housing and community development across Rhode Island. Approving both questions would strengthen the local and state resources available to finance affordable housing and respond to the needs of Providence residents.

"Investments in the affordable housing trust fund help close the gaps in critical projects. Working together with the administration we have invested in 1,600 future homes at rents that Providence's working families can afford - and we know there's more to do," said Council President Rachel Miller (Ward 13). "Yes on 6 is a way for Providence to invest in our future."

"Providence has demonstrated what sustained investment and a strong local commitment to housing can accomplish, advancing production and preservation - expanding affordable housing opportunities for residents," said Secretary of Housing Deborah Goddard. "Continuing that progress will require ongoing investment at every level of government. The proposed city and state housing bonds would build on these efforts, helping turn plans into homes and expand access to housing Rhode Islanders can afford. I encourage voters to vote yes on Question 2 to approve another $120 million state housing bond and, for Providence residents, yes on Question 6 to support a $25 million city housing bond."

The proposed investment builds on the Smiley Administration's broader housing strategy: producing new homes, preserving existing housing and affordability, and protecting residents from displacement. Alongside direct investment, the City has advanced zoning and permitting reforms and put vacant and underused public properties to work for housing.

"Having a safe, affordable place to call home is essential to individual well-being and the economic stability of our communities," said Melina Lodge, Executive Director of the Housing Network of Rhode Island. "This election, we have an opportunity to build on recent progress and take meaningful action to address Rhode Island's housing needs. By voting Yes on Question 6 in Providence and Yes on Question 2 statewide, we can take important steps toward a future where every Rhode Islander has the opportunity to thrive."

Providence voters can support the City's $25 million housing bond by voting yes on Question 6 and the statewide housing bond by voting yes on Question 2 in the November 3 general election.