Governor McKee, RI Executive Office of Housing Announce $12.7 Million to Expand Homeownership Opportunities Across Rhode Island
Published on Thursday, October 29, 2026
Awards will support ten developments across the state, creating a mix of affordable homeownership opportunities in urban, suburban, and island communities
MIDDLETOWN, RI — Governor Dan McKee and Secretary of Housing Deborah Goddard today announced $12.7 million in awards through the second round of the bond-funded $20 million Housing 2030 Entry-Level Homeownership Program. The announcement took place at the future site of Aquidneck Green in Middletown.
The second and final round of awards will support the development of 207 homes across nine Rhode Island municipalities. Of that total, awards will directly fund 161 homes priced below $400,000 and affordable to households earning up to 120% of Area Median Income (AMI). The investments will expand access to entry-level homeownership, helping more Rhode Island families achieve the stability and long-term financial benefits of owning a home.
With this round of awards, all available funding from the 2024 housing bond dedicated to the program’s homeownership initiatives has been allocated.
“Homeownership has been a top priority of my administration,” said Governor Dan McKee. “New housing permits are up 150% since 2021, reflecting our commitment to expanding housing opportunities for Rhode Islanders. Through bonds like this and other programs, we’re continuing to build momentum toward our goal of creating 15,000 new homes by the end of 2030. I urge Rhode Islanders to help us keep this momentum going by voting ‘Yes’ on Question 2 on November 3.”
“With this second round of awards, we have fully committed the 2024 bond funding dedicated to expanding homeownership opportunities in Rhode Island. To date, this program has supported the construction of 377 homes, including 249 that will be affordable to Rhode Island households earning at or below 120% of Area Median Income (AMI),” said Secretary of Housing Deborah Goddard. “These investments are helping more Rhode Islanders achieve the stability and long-term benefits of owning a home. The proposed 2026 housing bond would build on this progress by investing an additional $25 million in affordable homeownership development. Voting yes on Question 2 this November would help ensure we can continue creating homeownership opportunities, strengthening communities, and making Rhode Island a place where more families can afford to put down roots.”
The Housing 2030 Entry-Level Homeownership Program provides competitive grants to for-profit and nonprofit developers and public housing authorities to increase the supply of owner-occupied housing. Eligible developments include single-family homes, townhomes, and condominiums in projects of five or more units, including scattered-site developments.
“Aquidneck Green represents an important investment in Middletown’s future, creating opportunities for more families to put down roots in our community as homeowners,” said Paul Rodrigues, Middletown Town Council President. “By making town-owned land available for this development, we’re helping turn an underutilized public asset into 36 new affordable homes for first-time homebuyers. We’re grateful to the state and our development partners for helping make this project possible and for working with us to expand access to homeownership on Aquidneck Island.”
“For so many, homeownership seems like just a dream – but the Entry-Level Homeownership Program is helping make those dreams a reality,” said Carol Ventura, CEO & Executive Director of RIHousing. “These latest awards mean 207 new opportunities for Rhode Islanders to have a place to call home and build equity. Thank you to the Governor and Secretary Goddard for continuing to implement innovative solutions that bring more housing to our state.”
“For a lot of families on Aquidneck Island, owning a home has felt out of reach. Aquidneck Green changes that,” said Harry Angevine, CEO, Marathon Development. “With support from the Executive Office of Housing and the Town of Middletown, 36 households will become first-time homeowners in a community built to stay affordable. That’s what Aquidneck Green is for.”
SECOND-ROUND AWARD RECIPIENTS
Aquidneck Green, Middletown – $3,239,964
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 – $2,126,108
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 – $2,099,974
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 – $1,049,986
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.
Scattered-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.