EAST GREENWICH, RI — Local leaders and partners have officially opened Soria, a new mixed-income housing community delivering 63 affordable and workforce apartments to East Greenwich, addressing a growing need for accessible homes in the region.

Developed by Pennrose, Cove Homes, Inc., and other partners, Soria is located on Frenchtown Road and features a four-story building with one- and two-bedroom apartments for households earning 30% to 120% of the Area Median Income (AMI). For a single-person household, this ranges from about $24,050 to $96,120.

Of the 63 apartments, 13 serve middle-income residents (60%–120% AMI), 24 are reserved at 60% AMI, and 26 target the lowest income brackets at 30% AMI, supported through Section 8 Project Based Vouchers and 811 Vouchers from the East Greenwich Housing Authority and RIHousing.

A major component of the project is wraparound services and programming to help residents, especially older adults and people with disabilities, remain stable and connected.

“We’re thrilled to support East Greenwich Housing Authority in achieving its vision of creating high-quality, affordable housing for the local community,” said Karmen Cheung, regional vice president at Pennrose. “Soria brings accessible, sustainable housing opportunities to help improve outcomes for families and seniors across the income spectrum.”

“As co-developers of Soria, we are thrilled that 63 individuals or families will have a clean, safe, affordable, and attractive place to call home,” said Ruth Feder, president at Cove Homes, Inc. “This has been a dream of Cove Homes, Inc. for almost 10 years. Among other features of Soria, the accessible and fully ADA compliant apartments will ensure residents with disabilities are able to remain in their homes and are connected to services.”

Each apartment offers modern finishes, oversized windows, spacious layouts, and energy-efficient features. Residents can also enjoy a resident lounge, fitness center, picnic area, bike storage, free Wi-Fi, laundry facilities, and professionally landscaped outdoor spaces. Universal Design principles were used to ensure maximum accessibility.

Soria is built to meet ENERGY STAR, National Grid Tier II, and Zero Energy Ready Homes standards, with resilient materials and solar power covering common area energy use.

“Welcoming residents into their brand-new homes and witnessing the start of a new chapter for their families is incredibly rewarding,” added Marsha Blunt, president of Pennrose Management Company. “We look forward to fostering a welcoming, vibrant community where all residents have the tools, resources, and support they need to flourish.”

Affordable housing remains scarce in East Greenwich, with less than 5% of the town’s housing stock reserved as income-restricted. With rising living costs and limited new development, many low- and moderate-income families — especially seniors and people with disabilities — struggle to find housing they can afford close to community services and support.

Soria’s funding combined 4% and 9% Low-Income Housing Tax Credits (LIHTC), a federal earmark, and local and state housing sources including the Rhode Island Housing Trust Fund, Housing Production Fund, and Building Homes Rhode Island Fund. Citizen’s Bank and CREA also played key roles in financing the $16 million project.

The development team says Soria’s opening will not only create immediate housing relief for dozens of households but also set an example for how smaller communities can tackle affordability challenges creatively through partnerships, layered funding, and integrated supportive services.

Pennrose, with a strong New England presence, is expanding its footprint across Rhode Island. Recently, the company opened Tempo and broke ground on Tandem — two major mixed-income developments in Providence’s I-195 District.

With Soria, Cove Homes, Inc. achieves a milestone it has pursued for nearly a decade, fulfilling its mission of bringing accessible, inclusive housing to one of Rhode Island’s highest-cost communities.

Originally reported by Yield Pro.