New Workforce Housing Initiative at Quonset - Steven King Joins

Steven King, Managing Director at Quonset Development Corporation, joins the show to discuss a new workforce housing initiative. A factsheet provided by QDC: Workforce Housing at Quonset Business Park Quonset Development Corporation and Moran Properties are partnering to develop new workforcehousing at Quonset Business Park, helping expand housing options for the workers who support RhodeIsland’s economy.Project at a Glance• At least 140 new apartments• One- and two-bedroom units• Located on 6.89 acres along Gate Road• 40% of the apartments designatedas Quonset Workforce Housing • At least 10% reserved as low- andmoderate-income housing• Construction is anticipated to beginby end of 2027. Who Will the Workforce Housing Serve?Preference for the workforce-designated apartments will be given to people working:• At Quonset Business Park• In health care or education• Within 25 miles of Quonset Business Park• With the federal, state or local governmentKeeping Rents Within ReachThe long-term agreement establishes maximum rents for the workforce-designatedapartments. Those limits will be based on average wages at Quonset Business Park,household income levels in North Kingstown and state income guidelines for workforcehousing. Final rental rates will be determined as the project advances.Note: rents provided in the QDC Board packet are ceilings for rent over the course of theproject’s 99-year lease and are not meant to suggest current pricing.Site Map Infrastructure UpgradesWith the upcoming completion of RIDOT’s “Missing Move” project, the housingdevelopment will be situated adjacent to on- and off-ramps to Route 403, providingresidents with a direct connection to the highway in both directions. The ramps willsignificantly reduce travel on local roads, including along Devil’s Foot Road and through theWest Davisville neighborhood. A Public and Thorough Review ProcessThe housing proposal has undergone several years of public review and planning:• December 2022: The Quonset Development Corporation Board approved a majorvariance allowing workforce apartments at the site.• January-May 2023: The North Kingstown Planning Commission considered theproposal during four public meetings and a public hearing.• May 16, 2023: The Planning Commission approved the major variance in a public vote.• 2023-2025: Quonset conducted public processes to seek qualified developmentproposals, negotiating with several housing developers, who eventually declined tomove forward.• July 21, 2026: The Quonset Board considers the proposed agreement with MoranProperties. Benefits for North KingstownThe development will generate additional revenue for the Town of North Kingstown.Together with existing businesses at the Business Park, the project will help bringQuonset’s annual contribution to North Kingstown’s municipal tax base to more than $15million in property taxes and related payments. What Happens Next?Before construction begins, the project will be required to:• Complete Quonset’s technical review process• Secure all required state permits and approvals• Establish a construction and anticipated completion scheduleSee omnystudio.com/listener for privacy information.