Olneyville, Providence, Rhode Island -
Area Context

The Olneyville section of Providence, Rhode Island was once a bustling area and the center of the capital city, Providence, Rhode Island - even players like the great Babe Ruth once played for the Providence Grays. After manufacturing left the area in the 1950's, it faced decades of decline which culminated in the 1970's.

Although is a health equity zone, community reinvestment act (CRA) zone, one of the lowest median household incomes and an opportunity zone, it is rebuilding and experiencing a new focus. The City of Providence has called it one of its top two priority development areas along with Downtown Providence and Olneyville provides the density needed to accomodate housing. It is well positioned to power the community!

OLNEYVILLE AREA CONTEXT

HEALTH EQUITY ZONE

The Green District is located in Olneyville, Providence, Rhode Island, a designated health equity zone by the Rhode Island Department of Health and communities, we need to challenge the systems and structures that perpetuate health inequities.

CRA ZONE

The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low and moderate income neighborhoods like in Olneyville.

SEVERLY DISTRESSED NEIGHBORHOOD

Distressed neighborhood means a census tract located within a distressed municipality, in which the median family income does not exceed 80% percent of the Statewide or applicable metropolitan median family income, as reported in the most recently completed decennial census published by the United States Census Bureau. By secondary criteria, the Green District PVD is considered severly distressed.

OPPORTUNTY ZONE

Olneyville in Providence, Rhode Island is an Opportunity Zone by designation and an investment program created by the Tax Cuts and Jobs Act of 2017 allowing for certain investments in lower income areas to have tax advantages.

Community Support

"On behalf of the City of Providence and my elected position in the Providence City Council, I am happy to express my support for the proposed project in Olneyville, "The Green District PVD" and all developments there."- Oscar Vargas, Councilman - Ward 15