Research & Reporting > State Fiscal Recovery Funds Dashboard > Reynolds Farm Senior Housing II
Last Updated: 1.10.25
Rhode Island Affordable Development Activities
Reynolds Farm Senior Housing II
North Kingstown
Developer: Valley Affordable Housing Corp.
- Anticipated Completion Date: Q4 2026
- Total Units: 40
- Total Affordable Units: 40
- Affordability: 30% – 60% AMI
- Construction Status: 3% complete
Funding Sources and Amount:
| Source | Amount |
| 4% LIHTC | $5,575,552 |
| Deferred Development Fee | $250,000 |
| General Partner Capital | $100 |
| HOME | $1,000,000 |
| Housing Trust Fund | $1,340,000 |
| DAH* | $7,860,000 |
| RIH First Mortgage | $625,000 |
Total Development Cost: $16,650,652
RIHousing-administered SFRF Funds Expended: $0
*Sources funded by the State Fiscal Recovery Funds (“SFRF”).
Groundbreaking: 11.22.2024
