144 Affordable Housing Project Developed by One Neighborhood Builders Now Under Construction
Braintree, MA, East Providence, Providence, RI (February 12, 2026) – Peabody Properties, an affiliate of The Peabody Companies, a group of award-winning property management and real estate firms now celebrating its 50th anniversary, announces that it will manage Center City Apartments, a 144-unit affordable housing development located along Taunton Avenue in East Providence, Rhode Island, now under construction by One Neighborhood Builders (www.oneneighborhoodbuilders.org).
Staff members from Peabody Properties were on hand to celebrate the December 8th groundbreaking of the unique transformative mission-driven development. Approximately 40% of the apartments are reserved for the most economically vulnerable families (making up to 30% of the Area Median Income), who will receive wrap-around supportive services from the nonprofit partners.. The remaining units will be available to low and moderate-income individuals and families earning up to 80% of the Area Median Income.
Two new, four-story buildings will be constructed on either side of an existing four-story structure that will undergo a complete renovation, thereby revitalizing a long-vacant and blighted three-acre parcel of land and converting it into a vibrant, inclusive residential community.
The development will feature a welcoming lobby with staff to accept packages and provide a security presence. Proposed resident amenities include private greenspace, courtyards, and three-season porches, resident library lounge with complimentary Wi-Fi, onsite laundry facilities, and offices for leasing, property management and social service providers.
Peabody Properties will manage Center City Apartments, providing full-time maintenance and leasing services. The management firm has a long history of collaboration with One Neighborhood Builders, currently overseeing over 440 low-income residential units in Providence and East Providence built by the non-profit community development corporation based in Providence.
“Center City Apartments represents our commitment to ensuring that every person, regardless of income or circumstance, has access to safe and dignified housing,” said Peter Chapman, president and CEO of One Neighborhood Builders. “Partnering with Peabody Properties ensures that residents will benefit from professional management and supportive services for many years to come.”
“We are excited to partner once again with One Neighborhood Builders,” said Laurie McGrath, vice president of affordable housing at The Peabody Companies. “Center City Apartments embodies the very best of mission-driven housing. By combining thoughtful design, supportive services, and long-term management, we are creating not just apartments, but a vibrant community where residents can feel safe, supported, and proud to call home.”
