Entry Level Homeownership Program
To expand homeownership opportunities across Rhode Island, the Executive Office of Housing (EOH) has committed up to $20 million through the Housing 2030 Entry-Level Homeownership Program. The program supports the development of affordable homes for low- and moderate-income households, helping more Rhode Islanders achieve homeownership—a critical pathway to financial stability, long-term prosperity, and generational wealth.
Recognizing that this is a new program requiring innovative development approaches, EOH intentionally limited Round 1 funding to $10 million to allow developers time to bring projects forward and to evaluate early demand.
Following the award of $7.3 million in Round 1, $12.7 million was awarded in Round 2, which, in total, will support the production of 379 homes statewide, including 251 priced below $400,000.
Housing 2030 Entry Level Homeownership Program R1 Awards
Hickory Knoll, Westerly — $2.2 million
Habitat for Humanity will develop 22 homes in Westerly, 18 of which will be built with modular construction. The development includes two-, three-, and four-bedroom homes serving households at 80% of Area Median Income (AMI). All homes are priced between $200,000 and $310,000. This project also received $750,000 from the state’s infrastructure program.
West & 4th Condominiums, Woonsocket — $1.9 million
JDM Holdings LLC will develop a 19-unit scattered-site condominium project in Woonsocket and West Warwick, with 15 units in Woonsocket and four in West Warwick. All units in the development are two-bedroom homes and designed to serve households earning up to 120% of AMI. Fifteen units are expected to sell for $309,000, while four larger units are anticipated to sell for $330,000.
Ballou Townhomes, Woonsocket — $1.03 million
Duo Development Corporation will convert a vacant industrial building in Woonsocket into a 15-unit townhouse development. The development includes a mix of one- and two-bedroom homes priced between $275,000 and $325,000 and are targeted to households earning at or below 120% AMI.
819 Providence Natick Schoolhouse, West Warwick — $924,000
Expo Development will rehabilitate a historic schoolhouse in West Warwick into 11 condominium units. The development includes two one-bedroom units priced at $175,000 and nine two-bedroom units priced at $349,000. All units will serve households up to 120% AMI.
Richmond Place Residences, Richmond — $900,000
CT Development will construct a 69-unit mixed-income condominium community in Richmond, across 34 buildings. The development includes 18 affordable units and 51 market-rate units, all of which will have two-bedrooms. The affordable units are restricted to households earning up to 120% AMI and are expected to sell for approximately $325,000.
The Woods at Red Brook, Coventry — $500,000
D2Homes will construct a 36-unit, two-bedroom condominium development in Coventry. The development includes five affordable units priced at $320,000 for households at or below 120% AMI, with the remaining units sold at market rate
Housing 2030 Entry Level Homeownership Program R2 Awards
Aquidneck Green, Middletown – $3.2 million
Marathon Development LLC will develop 36 three-bedroom homes using modular construction, including single-family detached homes, duplexes, and triplexes. Five homes will be reserved for households earning up to 80% of AMI, with proposed sale prices of $353,800. The remaining 31 homes will be reserved for households earning up to 120% of AMI, with proposed sale prices of $399,999.
Two homes will meet Type A accessibility standards, one will meet Type B standards, and all 36 homes will be built to Type C accessibility standards.
Sprague/Bristol Ferry/Turnpike, Portsmouth – $2.1 million
Church Community Housing Corporation will develop 37 condominiums across two lots. The northern lot will feature 12 condominiums in a walk-up building, while the southern lot will feature a 25-unit building with elevator access.
The development will offer one-, two-, and three-bedroom homes for households earning between 80% and 120% of AMI. Proposed sale prices range from $200,000 to $395,000, depending on unit size and income eligibility. Program funding will support 22 of the 37 homes.
Scattered-Site Development: Providence and West Warwick – $2.09 million
Chosen Generation LLC and Maxton Investments LLC will develop 36 homes across five sites in Providence and West Warwick. Of the total, 28 homes will be affordable to households earning up to 120% of AMI, while eight will be market-rate units.
The development will include homes ranging from one to five bedrooms, including one Type B accessible unit. Most affordable homes will have two bedrooms, with anticipated sale prices of $280,000 to $299,000. Larger affordable homes with at least three bedrooms will have anticipated sale prices ranging from $310,000 to $360,000.
203 Douglas, Providence – $1.04 million
PMP Group LLC will develop 14 condominiums in a four-story urban infill building in a neighborhood with a mix of commercial, residential, and civic uses. All units will be affordable to households earning up to 120% of AMI, with a proposed sale price of $271,450.
The development will include a mix of one- and two-bedroom homes, two of which will meet Type A accessibility standards.
Residences at Mill River, Woonsocket – $899,988
Duo Development will construct 12 three-story, two-bedroom townhomes for households earning up to 120% of AMI. Each home will have a proposed sale price of $280,000.
cattered-Site Development: Branch, Mowry, Charles, Providence – $825,000
Tosbin LLC will develop 11 affordable homes (plus one accessory dwelling unit (ADU) for rent) across Providence. The homes will include a mix of two-, three-, and four-bedroom layouts and will be affordable to households earning up to 120% of AMI.
The Branch Avenue site will feature six rowhouses, the Mowry Street site will include a three-unit residence and one rental ADU, and the Charles Street site will feature a detached two-family structure.
BIHB O’Brien Affordable Housing Community, New Shoreham – $749,990
The Block Island Housing Board will develop 10 affordable two-bedroom homes in five modular duplexes. Each home will be priced at $265,000 and available to households earning up to 100% of AMI, expanding homeownership opportunities on Block Island.
Village at Tiogue, Coventry – $650,000
D2Homes will lead development of a community planned to include 34 single-family homes and 16 cottage-style land condominiums. Thirteen three-bedroom homes will be designated as affordable to households earning up to 120% of AMI, with anticipated sale prices ranging from $349,000 to $356,100.
502 Bullocks Point, East Providence – $599,990
The Apiary LLC will develop a 10-unit cottage court using factory-built modular components. All homes will have two bedrooms and be affordable to households earning up to 120% of AMI, with anticipated sale prices of $312,888. Five units will meet Type B accessibility standards.
The Robertson House Condominiums, Lincoln – $500,000
1501 Lonsdale LLC will adapt a former funeral home and its support building into five condominiums. Three two-bedroom homes will be affordable to households earning up to 100% of AMI, including one Type A accessible unit. Two three-bedroom homes will be affordable to households earning up to 120% of AMI.
Anticipated sale prices for the homes reserved for households earning up to 100% of AMI range from $285,000 to $310,000. The two homes reserved for households earning up to 120% of AMI are expected to be priced at $399,000 each.