EAST GREENWICH-As East Greenwich continues to become a popular destination to shop, eat and live, one developer is creating what he thinks is a much-needed place to live; one bedroom condos for purchase on Main Street.
Leonard Iannuccilli, along with his brother David Iannuccilli and their partner Joe Palombo, is ready to break ground on the 21 condominium units that will be located at 1001 Main Street. The project developers hope the units will fill a gap in the types of homes offered in East Greenwich.
“There’s a real void for some demographic groups in town,” said Leonard Iannuccilli, the project developer. “You have a lot of folks that are in their 20s and early 30s that are dying to get out of the family house, or they’ve been renting and they’re ready to purchase. You also have an older population who might not be ready for assisted living and there are single adults in their 40s and 50s. They can all live here.”
Leonard and David Iannuccilli are no strangers to real estate. Along with developing their current project, the two own a RE/MAX Professionals office in East Greenwich and have worked on several projects in town that provide housing for demographic groups who they feel typically miss out. Along with their partner, the trio is part of 620 Main Street Associates and hopes to have the Terrace on Main project complete by Spring 2018.
“We consider ourselves new urbanists, because we like to stay here in town and we look at sites that are underutilized, or they have a really poor use,” said Leonard, adding that 620 Main Street Associates has completed projects in East Greenwich including but not limited to Steeple View Office Park, Colby Place and The Cottages on Greene.
The 21 units as part of the Terrace on Main project will each feature one bedroom, one bathroom, an office, an open concept kitchen, and a living space, with the units on the second and third floor also including a balcony. In a relatively historic town, the units will all be brand new, offering amenities that many other housing options don’t have.
“This is brand new,” said Leonard. “A lot of our housing stock in town is old, and you don’t necessarily find granite, hardwood floors, and stainless steel there, but you’ll find that here.”
Each unit will be under 1,000 square feet, and the residents will also have access to a communal gym, outdoor patios and rooftop entertainment space that can be used to host parties, and other gatherings. However, one of the most attractive features of the condos will be the large parking lot, and the ability to walk into town easily.
“Walkability is huge,” said Leonard. “The ability to walk to town and be around people, you’ll be happier being around people and nature. This is a lifestyle where you’re going to be communal.”
Along with being centrally located near the many restaurants and shops on Main Street, the condos will be close to Goddard Park, along a bus route, and residents will also be allowed to have pets.
In addition, six of the condos will be affordable housing units, and the price point starts at around $250,000 per-unit.
Units are currently available to be reserved, and more floor plans and information is available at www.theterraceonmain.com.