Colony House
LOCATION
Providence, RI
UNITS
101
ACQUIRED
2017
PROJECT TYPE
LIHTC / Section 8
PROPERTY TYPE
High-rise
Community Spotlight
Located in Providence, Rhode Island, Colony House is a high-rise apartment community with 101 units for seniors. At the end of 2017, Standard Communities completed an extensive $3,400,000 tenant-in-place renovation that upgraded unit interiors and added community areas, a fitness center, and a business center.
The Challenge
When Standard Communities acquired the property, deferred maintenance items needed to be addressed. The deferred maintenance left the apartment interiors and common areas run-down, and building systems were in need of complete overhauls.
The Game Plan
Residents remained in their homes over the course of the renovation, which rehabilitated the interiors of each unit, added extensive community areas, and modernized all building systems to ensure smooth operations for years to come. Upgrades to living spaces included new flooring and cabinets, as well as energy-efficient appliances and lighting. To create a sense of community that had been absent at the property, Standard Communities upgraded the existing communal spaces, and created a fitness center and a business center.
The Outcome
Because of Standard Communities’ commitment to providing affordable housing for all, the 101 units at Colony House were preserved as affordable as part of a new project-based Section 8 contract.
