60 King
Providence, RI
Trinity's 60 King is an adaptive reuse project that converted a vacant historic mill building in the Olneyville neighborhood of Providence into 60 units of mixed-income rental housing. Originally constructed in 1923, 60 King was the home of the Rochambeau Worsted Wool manufacturing facility until the 1950s, when the complex was acquired by the Imperial Knife Company. The redevelopment of 60 King breathed new life into an architecturally significant structure, remediated a contaminated Brownfields site, and helped to reconnect this isolated building to the rest of the Olneyville neighborhood. Trinity undertook 60 King in collaboration with two Providence-based community development corporations: ONE Neighborhood Builders and SWAP, Inc. (Stop Wasting Abandoned Property).
60 King features a total of 60 affordable and market-rate apartments, including studio, one-, two-, and three-bedroom units. The rents for the project are targeted to a range of different income levels: 47 units are available at 60% of Area Median Income (AMI), 7 units with rents set at 30% of AMI, and 6 unrestricted, market-rate units.
60 King was financed with a blend of Low-Income Housing Tax Credits, federal historic tax credits, state historic tax credits, soft debt from Rhode Island Housing and the City of Providence, as well as RIDEM Brownfields Remediation grant funding.
60 King is the second project in the multi-phase redevelopment of Olneyville that was envisioned in the Build Olneyville Plan, a community-based planning process that was led by the Providence Housing Authority, ONE Neighborhood Builders, and Trinity in 2014, and was financed through a HUD Choice Neighborhoods Initiative (CNI) planning grant. The Build Olneyville Plan lays out a holistic vision for the future of Olneyville across several different elements, including housing, education, and people.
Moving forward, Trinity hopes to leverage the 60 King project and the work of the Build Olneyville Plan into a $30 million HUD CNI implementation grant, which would help to catalyze the redevelopment of a portion of the adjacent 330-unit Manton Heights public housing development and the construction of new mixed-income housing on and around the 60 King site.
View Sixty King Website
No. of Units
60
Total Development Costs
$22.7 Million
Type
Mixed-Income, Historic Preservation
Completed
2018
60
Total Development Costs
$22.7 Million
Type
Mixed-Income, Historic Preservation
Completed
2018
Related Press
See Related ArticlesAwards and Certifications
- Grow Smart RI Smart Growth Award 2019
- Affordable Housing Finance Readers' Choice Award Historic Rehab Finalist 2019
