Public investment in affordable homes has provided a strategic stimulus to Rhode Island's economy. Key Studies have quantified the economic impact and multiplier effect of
investing in affordable homes. Architectural standards and adequate maintenance strongly influence
property values. Negative effects are being felt in communities that don’t have an adequate 
supply of affordable homes. Affordable homes often follow smart growth, environmentally friendly design
principals.
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Public investment in affordable homes has provided a strategic stimulus to Rhode Island's economy.

53% of the total estimated cost of residential construction permitted from 2007 to 2010 was for developments supported by the Building Homes Rhode Island program.

Key Studies have quantified the economic impact and multiplier effect of investing in affordable homes.

In Rhode Island, the $50 million invested in the Building Homes Rhode Island program generated close $800 million in total economic activity throughout the state- $15.80 per $1 of funding deployed.

Architectural standards and adequate maintenance strongly influence property values.

Properly maintained affordable housing developments, designed and built with sensitivity to the architectural and aesthetic standards desired by the community, may even increase property values.

Negative effects are being felt in communities that don’t have an adequate supply of affordable homes.

Businesses in these communities struggle to fill vacant jobs and a growing number of workers cannot afford to live in the communities they serve.

Affordable homes often follow smart growth, environmentally friendly design principals.

Affordable homes take into account the surroundings and the neighborhood. They are often designed to improve the overall character of the community where they are built.

Awards celebrate innovation and success in Rhode Island

Rhode Island organizations, outstanding plans, and innovative individuals promoting the creation of long-term affordable housing were recognized last week at two important awards ceremonies.

Governor Lincoln D. Chafee and James DeRentis, Chairman of Rhode Island Housing's Board of Commissioners, co-hosted the 2012 Partners in Housing Awards. Recipients recognized for their collective contribution to addressing the housing needs of our state were:

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Groundbreaking in Pawtucket

Tomorrow: On Friday, May 18th at 10:30 a.m., U.S. Senator Sheldon Whitehouse and Pawtucket Mayor Donald R. Grebien will join the Arc of Blackstone Valley, Rhode Island Housing and their community partners to break ground on construction for Belmont Commons. The development, funded in part through the state's Building Homes Rhode Island program, will provide long-term affordable rental homes for individuals with disabilities.

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New studies show impact of affordable homes

New evidence shows positive social and economic return on investment from the creation of long-term affordable housing.

Burrillville, Rhode Island's Clocktower Apartments, developed by NeighborWorks ® Blackstone River Valley, was the featured case study for the 2011 Advisory Council Annual Report from the Federal Home Loan Bank of Boston (the Bank). The report offers an in-depth look at the Bank's Affordable Housing Program (AHP) and its impact on local economies.

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