EAST GREENWICH, RHODE ISLAND – Dakota Partners recently closed on Phase 2 of Brookside Terrace, a new affordable housing community in East Greenwich, RI. Construction for the entire development is well underway, with Phase 1 completion anticipated for early summer.
The property is being built in two phases on the formerly-vacant 17.2-acre site. Phase I features the construction of two 3-story residential buildings with 48 total units and a single story clubhouse/community building. Phase II includes 48 affordable rental units in two additional three-story apartment buildings. All of the buildings are garden-style walk-up structures and feature a mix of one-bedroom, one-bath and two bedroom, one-bath units. The clubhouse will serve as a community space – complete with fitness center, event space, and meeting rooms. Total development cost, including infrastructure investments, is $30 million.
“With all the permits and financing secured for Phase 2, we’re excited to move forward on the second half of this important project, which will bring some much-needed affordable housing options to East Greenwich, a town with a median household income of $130,000,” said Dakota Development Director, Muammar Hermanstyne.
To learn more about this project or submit an application for housing, visit www.BrooksideTerraceRI.com
A real estate developer and contractor, Dakota Partners acquires and develops multi-family rental and condo communities across New England and the mid-Atlantic, a significant percentage of which are garden-style affordable housing developments. At the core of every project is Dakota’s mission to improve the lives of the people who live in our communities. By integrating high-level design, green building technologies, and quality craftsmanship, Dakota provides warm and inviting homes that enrich both the community and its residents. Strategic partnerships with local organizations and public officials ensure the success of these projects for all stakeholders in the community.