The Elmwood Foundation (TEF), one of Rhode Island’s oldest non-profit housing organizations, was founded in 1975 to save and revitalize the neighborhood’s neglected historic housing stock. TEF brought together homebuyers and historic Victorian homes in need of restoration and stabilization. TEF was instrumental in gaining historic district designation for two areas in Elmwood and establishing street associations throughout the neighborhood.

Today, the organization is a full community development corporation, committed to fulfilling its mission to develop homeownership and rental opportunities that preserve and enhance the architectural heritage and cultural diversity of the Elmwood community. TEF promotes a cooperative neighborhood spirit through support, referrals and education.

1990: Using Citizens’ Bank Restore Program and no federal housing funding, TEF assisted in the development and marketing of nearly 40 properties, both single-family houses (40%), and two to four-unit buildings (60%), a value of $2M.

1994 -1996: TEF used HOME funds to develop 8 vacant properties in Elmwood’s National Register Historic District creating 20 units of owner occupied, 2-4 unit housing and 7 condos. In this $1.4M initiative, TEF managed acquisition, rehabilitation and sale of these properties.

1997-1999: TEF developed another 30 units of owner-occupied housing.

1999: TEF began Elmwood Neighborhood Revitalization I, a LIHTC project to rehabilitate 11 buildings, creating 32 units of scattered-site rental housing throughout Elmwood. The $3.2M project, financed by the National Equity Fund, was fully occupied in June 2000.

2000: TEF completed the rehabilitation of an owner-occupied property on Lexington Av with 4 affordable rental units.

2002: TEF restored and rehabilitated 112-114 Melrose St., one of four buildings known as the "Jewels.” The large two-family Victorian, once boarded and vacant, was restored to its original beauty, and is now owner-occupied by a family with three small children. The $270K project was funded with City HOME funds and RI Housing Lead funds.

2004: Late in 2004, TEF completed ENR II, its 2nd major LIHTC project. ENR II created 46 units of affordable housing at a cost of $8.5M. The project revitalized an entire city block on Broad St by creating a new Victorian-style building designed by architect David Presbrey to house the offices of TEF and seven two-bedroom apartments. A total of 12 buildings have been restored, and 10 of the 12 buildings, including the three remaining “Jewels,” now have federal and/or state historic designation.

ENR II received two awards from RI Housing - an Affirmative Action award for minority hiring, 36.6% minority and women participants; and architect, David Presbrey and NationWide Construction Co. both received "2004 Partners in Housing Awards" for their work on the project.
TEF received a Preservation Award from the RI Historical Preservation and Heritage Commission for ENR II and for setting ‘high standards for the preservation of the neighborhood’s historic multiple-family housing. This highly visible project preserves historic resources, promotes affordable housing, strengthening the neighborhood’s revival.

2005: TEF completed a $1.4M homeownership project rehabilitating 5 houses on Dartmouth Av, including relocating one house to Laura St. TEF created a Community Land Trust to insure affordability in perpetuity for these homes. A brand new, 2-family house was built on Hamilton St and was included in the land trust.

2006: Construction of 10 beautiful, new, colonial-style homes located near Roger Williams Park, began on Early Street in spring 2006 and will be available for sale in early 2007 and will be included in the land trust. Two, 2-family houses were made available for affordable homeownership. One, 2-family was a new construction on Mitchell Street and was included in the land trust; and one, 2-family on Burnett Street was rehabbed and sold in December 2006.

Currently, a major mixed use project is on the drawing board for 2007-2008, to continue the revitalization of Broad St.