Rhode Island Affordable Development Activities 

Georgiaville Place

Smithfield

Developer: Farnum Development, LLC

  • Total Units: 9 townhomes – Homeownership
  • Total Affordable Units: 5 townhomes
  • Affordability: 100% -120% AMI

 

  • Construction Status: Construction Complete

Funding Sources and Amount:

Sources Amount
Construction financing $1,500,000
State Fiscal Recovery Fund (“SFRF”) $400,000
Farnum Development LLC 1,003,750

 

Total Development Cost: $2,903,750

SFRF Funds Expended To-Date: $400,000

architectural rendering of affordable apartment in smithfield