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Housing Board Seeks Property on Connecticut Avenue for Affordable Units

1 report, 1 independent Updated Fri 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

The Block Island Housing Board is seeking land to develop affordable housing units and has proposed a $1.5 million Community Development Block Grant application. The Board intends to purchase a home on Connecticut Avenue that could be renovated into four affordable rental units. The property is located on a 0.49-acre lot.

From blockislandtimes.com

Why it matters

Some supportBrind's analysis of the reports

The successful acquisition and development of the property would allow the Housing Board to create affordable rental units priced at 60 to 80 percent of the Area Median Income. If the grant is secured, the total development cost would be 30 percent of the Board's normal development cost.

From blockislandtimes.com

Who's involved

  • Connecticut AvenueThe thoroughfare where the Housing Board plans to purchase a property for renovation.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • Connecticut AvenueSpeculative

    The property on Connecticut Avenue might see changes in local rental costs due to the planned development of affordable units.

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The entities involved

Coverage

Newest first; wire copies grouped