CENTRAL FALLS – Today, Pawtucket Central Falls Development and RIHousing joined elected,
“By building new housing and rehabilitating existing structures, the Central Development takes an innovative approach to creating 62 new affordable homes for Rhode Islanders across a dozen locations in Pawtucket and Central Falls,” said Senator Jack Reed. “I am proud to deliver key federal resources that help municipalities advance innovative developments like this, increase housing supply, and lower housing costs across our communities.”
“Buying a home in Rhode Island has never been more expensive. We need to keep using federal resources that strategically support new affordable housing developments, like the Central Street Development, to help make the dream of homeownership a reality for more families,” said Senator Sheldon Whitehouse.
Made up of 62 units of housing, Central Development includes 30 new and 32 rehabilitated homes, plus two commercial units that will serve residents. One of the spaces will be PCFD’s Homeownership and Financial Education Center, which will assist residents and the surrounding community in preparing for homeownership.
“Projects like Central Street show what’s possible when we invest in our community with intention,” said State Representative Joshua Giraldo (D-56). “This development brings much needed mixed-income housing to Central Falls and helps ensure that families who have long called our city home can continue to build their future here. I’m proud to see this kind of progress in our community and smile every time I drive by with my family.”
PCFD worked closely with both Central Falls and Pawtucket to navigate this sprawling development, relying on strong partnerships in both cities to complete the work. Multiple locations of the project lay close to the new Pawtucket/Central Falls commuter train station, as well as other transportation and retail, offering travel and shopping convenience to residents.
“Central Falls has seen incredible momentum when it comes to housing, and 44 Central Street represents exactly the kind of progress we’re proud to support and deliver together. This development is not just about meeting our housing needs—it’s about creating opportunity and stronger futures for our residents through dozens of new and preserved homes,” said Central Falls Mayor Maria Rivera. “I’m proud to stand alongside dedicated partners like PCF Development and RIHousing, as well as our federal and state leaders, to make projects like this possible. This is what it looks like to invest in our people, and we’re not slowing down! Vamos a seguir adelante, juntos.”
“Cutting the ribbon on 44 Central Street today and the opening of 62 new affordable rental units is yet another example of our commitment to addressing affordable housing,” said Pawtucket Mayor Donald Grebien. “Since 2017, Pawtucket has added 700 affordable units, with another 300 now in the development pipeline. These projects wouldn’t be possible without partners like PCF Development and support from our Congressional delegation and the General Assembly. Working together, we’re building more units across Pawtucket to make housing more affordable for our residents.”
“Central Development represents meaningful investment in the future of Pawtucket and Central Falls,” said Linda Weisinger, Executive Director of PCFD. “The 62 new and preserved rental homes and our Homeownership and Financial Education Center will expand access to stable housing, strengthen families and support long-term economic opportunity across both communities. Together with our partners, we are creating pathways to housing stability and economic mobility for the communities we serve.”
All 62 units of Central Development are affordable to households earning between 30% and 100% of the Area Median Income, which for two people is between $27,450 and $91,440. PCFD employed a number of funding sources to complete the project, including federal Low-Income Housing Tax Credits and multiple State Fiscal Recovery Fund programs.
“Projects like Central Street Development are exactly the kind of thoughtful solutions Rhode Island needs to address our housing crisis,” said Deborah Goddard, Secretary of the Rhode Island Executive Office of Housing. “By combining new production with preservation, we can strengthen neighborhoods, protect community character, expand opportunities for our neighbors, and increase the housing supply all at once, empowering Rhode Islanders to thrive.”
“RIHousing is happy to see the completion of Central Development, which brings 62 new and rehabilitated units of housing to two Rhode Island cities,” said Carol Ventura, CEO & Executive Director of RIHousing. “We are proud to have contributed funding in multiple forms to the project, including through critical SFRF programs and federal LIHTC, ensuring the affordability of these homes, and we look forward to seeing how PCFD’s new Homeownership and Financial Education Center supports residents and surrounding community members on their paths to achieving homeownership.”
Of the 62 units, PCFD has reserved 14 of them for youth exiting foster care, with supportive services provided by Foster Forward.
“Mixed-income, mixed-use projects like the Central Development are essential to our communities,” said Jeanne Cola, Executive Director at Local Initiatives Support Corporation Rhode Island. “LISC has partnered with PCFD for years and we have seen the important ways that their work impacts Pawtucket and Central Falls. It is amazing to see more affordable housing and a new PCFD Homeownership and Financial Education Center being completed that will support residents in Pawtucket and Central Falls.”
“TD Bank is thrilled to partner with Pawtucket Central Falls Development as this financing underscores our ongoing commitment to affordable housing and to investing in projects that make an impact in the communities we serve,” said Lisa Joyner, Regional Community Development Manager at TD Bank.
PCFD is currently accepting applications for units. Interested individuals and families can apply on their website: pcfdevelopment.org/rentals/, or call (401) 941-2900