# 25 Bough Street is gaining momentum!  | 25 Bough Street  - A PUBLIC BENEFIT CORP

- Canonical URL: https://wefunder.com/feed/165589
- Entity ID: wefunder:feed_item:165589
- Published at: 2023-07-14 23:34:37 UTC
- Updated at: 2025-07-13 22:52:19 UTC

## Author
Idrees Lanre Ajakaiye

## Subject
25 Bough Street  - A PUBLIC BENEFIT CORP

## Content
Happy to provide an update on the progress of the 25 Bough Street development.  Please also follow the 25 Bough Street @25boughstreet on Instagram where I frequently post stories and real time updates. Since the last update, the 25 Bough Street development has received a letter of support and future commitment from the City of Providence.  Additionally, 25 Bough Street has won a grant from Rhode Island housing which is earmarked for blighted buildings in the urban core.  Secured tenants of interest are Centreville Bank, one of the state's oldest banks, with a 10-year commitment. Finally, the 25 Bough Street development and founder is a semi-finalist for the Black Ambition competition by Pharrell Williams and CEO Felecia Hatcherwith a possible grand prize of $1M.  Appreciate your patience since the work of community change and transformation takes time. Additionally, commercial developments are typically 3 (at best) with an average of 5–7-year ordeals. Thank you to the community for incredible support, the City of Providence for seeing the vision in the past, carrying and continuing the torch for change in the present, Governor Dan McKee and team and the state of Rhode Island for understanding the critical importance beyond a development but the outcomes it will bring.  Wish 25 Bough Street development luck on Black Ambition in September 2023 although the network of investors, VC’s, leaders, fellow tribe is already an incredible win!  With the aforementioned, ground breaking will be in a short amount of time!  Appreciate the support!