Pennrose Cuts Ribbon on Second Phase of Providence Mixed-Income Rentals
Pennrose, the 195 District, the City of Providence, Rhode Island Gov. Dan McKee, Mayor Brett Smiley, and project partners held 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.
Tandem delivers 61 mixed-income, workforce and market-rate rental homes. 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 VP 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.”
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout