PAWTUCKET -- State and local officials yesterday cheered the transformation of a decade-long neighborhood nuisance into a stately historical mansion now home to five affordable, lead-safe condominium units.
The condos in the Barton Street neighborhood will sell for $77,235 to $161,235 in a city where the median sale price is $184,000, officials said.
"Pawtucket Citizens Development Corporation is thankful that our funders, the City of Pawtucket and the neighborhood residents had faith in our vision to restore this elegant, historic property. Not only will the restoration of this building provide five more quality affordable housing units in Pawtucket, but it complements our neighborhood revitalization efforts in the Barton Street neighborhood," said corporation executive director Nancy Whit.
The Rhode Island Housing Resources Commission provided a $250,000 grant through its Neighborhood Opportunity Program.
Susan Baxter, who chairs the Rhode Island Housing Resources Commission, said: "The Neighborhood Opportunities Program is pleased to be able to support homeownership opportunities for first-time homebuyers. A unique feature of this development is the income mix of the buyers whose incomes range from 50 percent to 80 percent of median income."
The City of Pawtucket provided $110,961 from a federal Housing and Urban Development grant for the project.
Mayor James E. Doyle called the project "another wonderful example of how the partnership between the City of Pawtucket, PCDC and other generous benefactors has turned a decaying blight on a neighborhood into a beautiful, first-class, affordable-housing opportunity for the first-time homebuyers in the city. My gratitude goes to PCDC and everyone who helped make this project a tremendous success."
Rhode Island Housing provided $75,000 to clean up lead paint in the turn-of-the-century property.
Chris Gorman, who oversees the agency's lead cleanup program, said, "We're investing in Pawtucket because it has one of the state's highest rates of childhood lead poisoning."
Joseph J. MarcAurele, president and CEO of Citizens Bank, which provided a $436,400 low-interest construction loan and a $309,420 grant through the Federal Home Loan Bank of Boston, said the bank was proud to be part of the project. "Projects like this one are certainly a step in the right direction to solve the affordable-housing crisis in our state and more projects like them are critical," he said.
The Pawtucket Citizens Development Corporation, a nonprofit, community development corporation established in 1990, noted that purchasers of the condos must be first-time homebuyers earning no more than 80 percent of the federal Housing and Urban Development median family income, or $52,200 for a household of three.
For more information about the Pawtucket Citizens Development Corporation's homebuyer or other programs, contact the agency at 210 West Ave., or call (401) 726-1173.
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