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Arch Street in the News : Rhode Island Housing

Clark Biscuit Feature
Preservation Massachusetts
Arch Street brings right ingredients for Clark Biscuit rehab
St. Ann's Apartments in The Valley Breeze
St. Ann's Apartments in The Providence Journal
St. Ann's Apartments in The Woonsocket Call
St. Ann's Apartments in Rhode Island Housing
NH&RA Announces Finalists for 2007 Historic Rehabilitation Awards
Winter 2007
Building with Class

For Colin O’Keeffe and Rich Relich of Arch Street Development, the phrase “back to school” took on a whole new meaning in 2005. The developers tackled the $7.1 million renovation of three historic buildings in Woonsocket, including the former St. Ann’s School.

The buildings, which also included St. Ann’s former convent and parish house, had been abandoned and deteriorating in recent years. But with O’Keeffe and Relich’s vision and hard work, the buildings have been beautifully restored and have become affordable rental homes for 25 working families.

“Having the chance to work on this project has been great,” says O’Keeffe. “People often ask us why we chose to get involved, but what better way to make a living than doing something this meaningful?”

“Seeing families move in here in time to decorate for Christmas was really rewarding,” says Relich. “And little by little, we’re seeing the whole neighborhood improve.”

The apartments are affordable to residents earning as little as 40 percent of Woonsocket’s median family income, or $20,480 for a household of one. Rents range from $523 for a one-bedroom apartment to $887 for a three-bedroom unit.

Financing for the restoration included grants and below-market-interest-rate loans from Rhode Island Housing totaling $846,000.