PROVIDENCE, R.I. — WinnDevelopment, the development arm of WinnCos., has completed the $29.3 million renovation of 17 townhouse-style buildings at Lockwood Plaza Apartments in Providence. The redevelopment, completed in partnership with the City of Prividence and RIHousing, extends affordability at the property for 40 years. RIHousing is an agency created by the state legislature in 1973 to provide financing and resources to help Rhode Islanders afford housing through loans, grants, education and assistance. Multiple funding partners were involved, including Citizens Bank, which provided construction financing and Low-Income Housing Tax Credit equity. Income qualifications for Lockwood Plaza were not disclosed.
The 14-month project was overseen by WinnDevelopment Senior Project Director Lauren Canepari. Interior work included the installation of new kitchens and baths. Failing windows were replaced, exterior staircases were replaced or repaired, and extensive repairs were completed to masonry and stucco. Retaining walls were replaced, landscape improved and the entire property was repaved.
WinnDevelopment will seek funding for the second phase of the project in December 2025. If approved, Phase II renovations will begin in the fall of 2026.