ONE Neighborhood Builders

What ONE Neighborhood Builders does

ONE Neighborhood Builders (ONE|NB) is a Providence, Rhode Island-based 501(c)(3) community development corporation founded in 1988 as the Olneyville Housing Corporation and rebranded in 2015 following its merger with Community Works Rhode Island. The organization develops, owns, and manages affordable rental housing, creates homeownership opportunities through a community land trust model, and delivers adjacent community development services including SNAP navigation, homebuyer education, digital equity programming, and participatory budgeting. Its current rental portfolio comprises over 450 apartments across 14 developments concentrated in Providence's Olneyville and Elmwood neighborhoods, with expanding operations in East Providence and Central Falls; cumulative development since founding totals $135 million+ across 466 affordable apartments, 130 homeownership opportunities, and roughly 35,000 square feet of commercial and community space.

Revenue is generated through a hybrid nonprofit model combining restricted rental income from AMI-based tenants (30-80% of area median income), commercial leasing (e.g., 3,200 sq ft at 434 Atwells Avenue at $28-$32/sq ft), one-time homeownership sales, modest fees from online homebuyer education courses ($49), and large-scale institutional funding from LIHTC equity, federal and state appropriations (ARPA, Building Homes Rhode Island), and philanthropic grants (Blue Meridian Partners, Rhode Island Foundation, Bank of America). ONE|NB operates as the backbone organization for Central Providence Unidos, a Health Equity Zone coordinating 25+ community stakeholders across nine neighborhoods in ZIP codes 02908 and 02909, and delivers notable community programs including ONE|NB Connects (free community WiFi covering two-thirds of Olneyville residences) and the Fresh Fridays policy webinar series. Property management is outsourced to Peabody Properties, while supportive services for vulnerable populations (foster youth via Foster Forward, homeless individuals via Crossroads Rhode Island) are delivered through strategic nonprofit partnerships.

Name

ONE Neighborhood Builders

Legal name

One Neighborhood Builders

Website

https://oneneighborhoodbuilders.org

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

ONE Neighborhood Builders is a Providence-based nonprofit community development corporation founded in 1988 that develops and manages affordable rental and homeownership housing for low- and moderate-income households across Rhode Island, supported by LIHTC, state, and philanthropic funding.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (2361), Residential Building Construction (23611), Residential Remodelers (236118), Rental and Leasing Services (532)

SIC

Operators Of Apartment Buildings (6513), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ), Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Affordable Housing Development
• Community Development Services
• Resident Support Programs
• Nonprofit Property Management
• Homebuyer Education

Headquarters

HQ city

Providence

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Affordable Housing Development & Rental Income: Develops and manages affordable rental apartments. Rental portfolio includes over 450 apartments across 14 developments. Properties generate rental income from low-income and moderate-income tenants with rents based on Area Median Income (AMI) guidelines.
2. Commercial Space Leasing: Leases commercial space to local businesses. Currently seeking tenants for 3,200 sq ft at 434 Atwells Avenue (The Avenue) at $28-$32 per square foot, seeking minimum 3-year lease terms.
3. Homeownership Sales: Develops homes for sale to moderate-income buyers. Community land trust model ensures long-term affordability. Includes townhomes and small homes for first-time homebuyers.
4. Homebuyer Education: Offers online first-time homebuyer education course for $49 registration fee (with coupon code ONBHOME50 for $50 discount). Revenue from course registration fees.
5. Government Grants & Philanthropic Funding: Major funding from government sources (LIHTC, federal earmarks, state programs) and philanthropic foundations. Capital stack includes LIHTC equity, ARPA funds, RIHousing loans, federal appropriations, and foundation grants.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

ONE Neighborhood Builders develops and operates affordable rental and homeownership housing in Providence, Rhode Island, managing 450+ apartments across 14+ developments for low- and moderate-income households. Alongside real estate, the organization delivers resident services including digital access through the ONE|NB Connects community Wi-Fi network, food security initiatives such as Fresh Fridays, community-building programs like Central Providence Unidos, SNAP application navigation, and a HUD-certified homebuyer education course.

Product overview

ONE Neighborhood Builders is a nonprofit affordable housing and community development organization that operates as a single integrated offering rather than a platform-plus-modules architecture. The organization's products and services include affordable rental housing developments (currently managing over 450 apartments across 14+ developments), homeownership opportunities through community land trust models, commercial space rental, SNAP navigation services, first-time homebuyer education, Fresh Fridays webinar series, ONE|NB Connects free community WiFi, and Central Providence Unidos health equity initiatives. Their major housing development projects include Center City Apartments (144 units, East Providence), The Avenue (85 units, Providence), Broad Street Homes (46 units, Central Falls), Residences at Riverside Square (16 units, East Providence), Sheridan Small Homes (net-zero energy homes), and Manton Avenue Live/Work Townhomes.

Differentiator

Problem solved

Functional benefit

Brands

• Central Providence Unidos: A place-based, comprehensive initiative increasing economic mobility and health equity in Central Providence, operating as a Health Equity Zone and collaboration of more than 25 community stakeholders
• ONE|NB Connects
• Fresh Fridays
• ONE Works
• Central Providence Opportunities (CPO)
• Nine Neighborhood Fund

Products and services

• Affordable Rental Housing

Quantifiable outcome

• Medicaid costs 43% lower for formerly homeless in supportive housing vs. those still homeless
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered core and secondary.

• Crossroads Rhode IslandcoreStrategic or Co-development PartnerNonprofit partner for Center City Apartments providing wraparound supportive services. All 144 units available to low-moderate income households, with approximately 40% reserved for most vulnerable families receiving services from Crossroads and other partners. Crossroads specializes in housing stabilization and serves unhoused individuals.
• Family Service of Rhode IslandcoreStrategic or Co-development PartnerNonprofit partner for Center City Apartments providing supportive services. FSRI brings expertise in case management, education, workforce development, and family support services. CEO Margaret Holland McDuff is an East Providence native.
• Foster ForwardcoreStrategic or Co-development PartnerEast Providence-based nonprofit partner providing services for youth aging out of foster care. 3 units at Riverside Square and units at Center City Apartments reserved for foster youth with supportive services from Foster Forward. Executive Director Lisa Guilette leads the partnership.
• Peabody PropertiescoreChannel Partner/ Reseller/ DistributorProperty management partner for ONE|NB's rental portfolio of 450+ apartments across Providence and East Providence. Handles leasing, tenant relations, and property operations. Contact: [email protected], (401) 455-0814.
• NeighborWorks AmericacoreStrategic or Co-development PartnerCongressionally chartered nonprofit providing support and training to ONE|NB as a chartered member. ONE|NB displayed charter flag on website as recognition of this affiliation.
• OSHEANsecondaryTechnology or IntegrationPartner for ONE|NB Connects community WiFi network. OSHEAN provides technical expertise and infrastructure for the mesh network covering Olneyville.
• Innovation StudiosecondaryStrategic or Co-development PartnerPartner in Biz Bodega, a resource center and public space at 222 Manton Ave providing one-stop shop for entrepreneurs in Central Providence. Joint initiative launched in 2022.
• Federal Hill HousesecondaryStrategic or Co-development PartnerPartner for Central Providence Healthy Aging Network, receiving funding through RI Executive Office of Health and Human Services to help older residents age in community.
• Brown University Swearer CentersecondaryStrategic or Co-development PartnerPartnership for after-school program at William D'Abate Elementary School. RI Department of Education awarded 21st Century Community Learning Center grant to ONE|NB for school vacation programs.
• Union Studio ArchitecturecoreTechnology or IntegrationArchitect for Center City Apartments and Residences at Riverside Square. Design firm for new construction and renovation projects.
• Pezzuco ConstructioncoreTechnology or IntegrationGeneral contractor for Center City Apartments and Residences at Riverside Square. Responsible for construction of new buildings and renovation of existing structures.
• Trinity FinancialsecondaryStrategic or Co-development PartnerDeveloper partner for 60 King Street (formerly Imperial Knife), a 60-unit affordable housing development in Providence. Partnership for this historic mill redevelopment.
• City of Central FallscoreStrategic or Co-development PartnerMayor Maria Rivera's vision and city commitment to affordable housing. City acquired properties through Mayor's Housing Task Force with RIHousing Site Acquisition Program support for Broad Street Homes.

Scale indicators17 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• The Community Builders: The Community Builders is a nonprofit affordable housing developer that develops, owns, and manages mixed-income rental housing across multiple states. Directly comparable as a mission-driven nonprofit with similar development, ownership, and asset management operations focused on affordable and mixed-income communities.
• Pennrose: Pennrose is a real estate developer and property manager specializing in affordable, mixed-income, and market-rate rental housing, with strong expertise in LIHTC-financed development. Directly comparable to ONE|NB as a similarly structured affordable housing developer using complex public-private capital stacks.
• Beacon Communities: Beacon Communities is a nonprofit affordable housing developer that develops, owns, and operates large-scale affordable and mixed-income rental communities. Directly comparable as a similarly structured nonprofit affordable housing developer with comparable development scale and asset management operations.
• Preservation of Affordable Housing (POAH): POAH is a nonprofit developer and owner of affordable rental housing that preserves and develops affordable homes across multiple states. Directly comparable as a nonprofit affordable housing organization combining preservation, new construction, and asset management with a mission-driven focus.
• National Church Residences: National Church Residences is a nonprofit developer and operator of affordable senior housing and supportive services. Comparable as a similarly structured nonprofit combining affordable housing development with on-site supportive services for vulnerable populations.

Broad incumbents

• Enterprise Community Partners: Enterprise Community Partners is a major national nonprofit that invests in affordable housing development through capital, expertise, and partnerships. Comparable as a sector-leading affordable housing nonprofit with broader geographic and programmatic scope than ONE|NB's regional focus.
• Mercy Housing: Mercy Housing is one of the largest U.S. nonprofit affordable housing developers, developing and managing rental housing nationwide. Comparable as a large-scale mission-driven nonprofit developer with broader geographic reach and similar resident services integration.
• WinnCompanies: WinnCompanies is a national multifamily housing developer and property manager with a large affordable housing portfolio. Comparable as a major affordable housing operator, though as a for-profit, large-scale player versus ONE|NB's nonprofit regional model.
• Habitat for Humanity International: Habitat for Humanity is the largest U.S. nonprofit housing organization, building affordable homes for low-income families through volunteer-driven construction. Comparable as a similarly structured nonprofit affordable housing organization, though with a focus on homeownership rather than rental.

Others

• Local Initiatives Support Corporation (LISC): LISC is a national CDFI that finances affordable housing and community development through loans, grants, and capacity building. Comparable as both a financial partner and ecosystem peer; LISC's $3.5M Center City loan and long-standing partnership make it directly adjacent to ONE|NB's operations.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/1_neighborhood
• LinkedInlinkedin.com/company/one-neighborhood-builders

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ONE Neighborhood Builders