Helping Lower Income Families Achieve Homeownership
September 19, 2024
On September 19, 2024, SWAP hosted a tour of five newly constructed two-family homes at 41 Portland Street, Providence, RI, designed to make homeownership affordable for lower-income families. These 2200 sq ft homes, priced at $309,000, feature an owner's three-bedroom unit and a two-bedroom rental apartment, with the rental income intended to help buyers afford homeownership. The event, which included SWAP Executive Director Carla DeStefano, Lt. Governor Sabina Matos, Mayor Brett Smiley, and Councilwoman Mary Kay Harris, showcased how these homes aim to alleviate strain on potential buyers and help families build wealth. The homes were built on formerly blighted land and are deed-restricted for 30 years to maintain affordability for future buyers.