Tandem's opening delivers the final phase of a 127-unit mixed-income, mixed-use community in Providence’s Fox Point neighborhood 

Pennrose, the 195 District, the City of Providence, Governor Dan McKee, Mayor Brett Smiley, and project partners celebrated the grand opening of Tandem, the second and final phase of the transformation of a 195 District parcel into a 127-unit mixed-use, mixed-income community. Tandem joins Tempo, which opened in April 2025, to complete the redevelopment of Parcel 9 with mixed-income housing, 1,100 square feet of ground floor retail, an affordable childcare facility, and a public plaza. 

Speakers at the grand opening included: Karmen Cheung, Regional Vice President, Pennrose, LLC; Mayor Brett Smiley, City of Providence; Governor Dan McKee, State of Rhode Island; Deborah Goddard, Secretary, Executive Office of Housing, State of Rhode Island; Stefan Pryor, Secretary of Commerce, State of Rhode Island; James Comer, Deputy Executive Director, RIHousing; Marc Crisafulli, Chairman, I-195 Redevelopment District Commission; John Goncalves, Ward 1 Councillor, Providence City Council; Jacqueline Martinez, Deputy Director of Housing Programs and Operations, Providence Housing Authority; Joseph Beaudette, Tandem Resident; and Rebecca Schofield, Senior Developer, Pennrose, LLC.

Tandem delivers 61 mixed-income, workforce, and market-rate rental homes. Residents of Tandem join those at Tempo in enjoying on-site property management space, secure bicycle storage, a fitness center, a community room, two outdoor roof decks, and a shared courtyard that connects residents to City Walk and the broader Fox Point neighborhood. 

Tandem (Phase II) brings studio, one-, two-, and three-bedroom apartments to the site, with units available at 30%, 50%, 60%, and 100% of the Area Median Income (AMI), as well as market-rate units. The building also includes eight one-bedroom-plus-den units, offering larger, more flexible layouts, along with one-bedroom and two-bedroom units with townhouse-style entrances off Bessie Way.

"With Tandem now open, we've delivered on the full vision for Parcel 9," said Karmen Cheung, Regional Vice President at Pennrose. "This milestone reflects years of collaboration with incredible partners, including the195 District, the City of Providence, and RIHousing, whose shared commitment made this transformation possible. Providence continues to prove itself a city where thoughtful, community-centered development can truly change lives, and we're honored to welcome Tandem's residents home."

“Tandem is another example of the housing progress happening across Rhode Island,” said Governor Dan McKee. “Under my administration, we’ve seen a 150 percent increase in new housing permits. Now, we’re seeing that momentum become real homes for Rhode Islanders. Through our Housing 2030 plan, we’re building on that progress to create more housing, expand opportunity, and make Rhode Island more affordable. Thank you to everyone who worked to make this project a reality in the 195 District.”

“Providence is building more housing, investing in our neighborhoods and expanding opportunity for residents at every income level,” said Brett Smiley, Mayor of Providence. “With Pennrose's completion of Tandem, we've added a vibrant, mixed-income community with new homes, childcare, and welcoming public spaces that connect residents to Fox Point and City Walk. I am grateful to all of our partners who helped bring this community-centered development to life.”

“The completion of the Parcel 9 redevelopment is another great example of what we can accomplish when we make smart, strategic, and thoughtful investments in housing,” said Secretary of Housing Deborah Goddard. “Public investment helped create 127 homes through the Tempo and Tandem developments, while also supporting access to childcare, jobs, transportation, and community spaces. These investments help create stronger, more connected communities and improve quality of life for Rhode Islanders. That is the meaningful return we see when we invest in housing.” 

“When we build quality housing and mixed-use spaces in the heart of our cities - close to businesses, jobs, transit, and amenities - we’re creating the conditions for a community and the economy to thrive together,” said Stefan Pryor, Secretary of Commerce for the state of Rhode Island. “This development demonstrates how thoughtful investment in housing can drive economic growth, strengthen our neighborhoods, and create new opportunities for Rhode Islanders. Congratulations to the 195 District and Pennrose teams on the completion of this complex.”

“The opening of Tandem reflects exactly what we are working to accomplish in the 195 District — creating economic development opportunities while ensuring that development is responsive to the needs of the community,” said Marc Crisafulli, Chair of the I-195 Redevelopment District Commission. “Through a strong partnership with Pennrose, the City of Providence, RI Housing and others, Parcel 9 has been transformed into a vibrant part of the neighborhood, delivering 127 high-quality, mixed-income homes and creating new opportunities for people to live in the heart of Providence.”

“RIHousing is proud to have supported the redevelopment of Parcel 9, now Tempo and Tandem, into 127 homes and a vibrant community that complements the surrounding neighborhood,” said Carol Ventura, CEO & Executive Director of RIHousing. “Years in the making, Pennrose has thoughtfully transformed this formerly vacant land into a hub of housing and activity that serves not only residents but anyone who spends time in the area. We were happy to provide the vital funding sources that helped make this development possible and look forward to continuing to work with Pennrose to expand affordable housing opportunities for Rhode Islanders across the state.”

The community is located adjacent to I-195, is well-served by several local bus routes, and borders the popular City Walk bicycle and pedestrian path. Throughout the design process, the development team worked hand-in-hand with neighbors and local stakeholders to shape a project that fits naturally into Fox Point, bringing new activity to the area and drawing more people to support the businesses nearby. Along Alves Way and City Walk, the site's landscaping and urban design, paired with the Children's Friend childcare facility and storefront at Tempo, help make South Main Street an active, pedestrian-friendly piece of the Innovation District. The childcare facility at Tempo alone supports more than 20 jobs, adding to Parcel 9's contribution to the local economy. 

Financing for Tandem was provided by 9% Low Income Housing Tax Credits from RIHousing (RIH), syndicated by National Equity Fund with Webster Bank as the investor. RIH is providing permanent debt and soft sources, Webster Bank is providing construction debt, and the project received additional, critical sources from RIH, the City of Providence, and the Providence Redevelopment Agency, along with operating subsidy through the Providence Housing Authority. The Architectural Team (TAT) served as architect for Tandem, with Haynes Construction serving as general contractor.

With a regional headquarters in Boston, Pennrose is committed to delivering high-quality, affordable housing across New England. Tandem's opening builds on the momentum of Tempo, the first phase of the Parcel 9 redevelopment, which opened in April 2025 and delivered 66 mixed-income apartments to Providence's Fox Point neighborhood.