In its twenty-plus years of operation, NWBRV has celebrated many successes in its development and community building endeavors.
Read our 2014 Annual Report here or read on for more information about key successes from each of our four business lines:
Development
NWBRV has a wide variety of real estate in its portfolio including residential, commercial, and mixed use developments throughout Northern Rhode Island. A few recent successes include:
- Renovation of the historic Champ’s Diner into a modern restaurant serving breakfast and lunch daily.
- The addition of 38 new townhouse-style apartments in North Smithfield called Marshfield Commons.
- The addition of six new residences (reserved for “Community Builders-in-Residence) and a youth center in Woonsocket known as the Mary A. Longtin C3 Center (formerly the Northeast St. Mill).
- The addition of 47 new rental units with the opening of the ClockTower Apartments (formerly Stillwater Mill) in Burrillville.
Read more about development successes here.
Asset Management
Key outcomes from our Asset Management team include:
- Green Designation from NeighborWorks America signifying the organization’s comprehensive approach and commitment to sustainability.
- Implementation of a customer-centric online tenant portal in partnership with property manager, Maloney Properties.
- Vacancy rates have steadily declined over the past few years, going from a 4.5% to a 1.4% vacancy rate, which is a 69% decrease. Our efforts to connect residents to resources and financial coaching has paid off; the 69% decrease in vacancies converts to roughly 2300 more days “occupied” than “vacant.”
HomeOwnership Center
- Over 300 families were counseled through the foreclosure prevention program.
- Over 1000 families were prepared for home ownership through pre-purchase classes and coaching, with at least 60% going on to purchase homes within a year of class completion.
- Over 400 customers received financial fitness coaching through our BOOST! programs and joint programs offered in partnership with Community Care Alliance with the goal of improving or establishing credit, growing their savings, and increasing income.
Community Building and Organizing
- Offer year-round youth programs in Woonsocket and North Smithfield. Over 60 students completed the middle and high school age portion of our summer program in 2014 and our students saw 30.6% gains in literacy skills and 13.37% gains in math skills from the start to end of the program.
- Released the final version of the Our Neighborhoods Community Contract. NWBRV coordinated volunteers who served over 24,186.75 hours in the community during the 2010 year alone to achieve Contract “Action Items”.
- Secured well over $20 million in investment in the Our Neighborhoods Planning District as part of a HUD Choice Neighborhoods Planning grant, which includes key investments in programs such as a Financial Opportunity Center, kitchen incubator, neighborhood childcare facilities, etc.