Developer secures $517K grant for housing at The Pines site

The Pound Hill Estates project in North Smithfield is one of 10 statewide to receive funding through Rhode Island's Housing 2030 program.

Apr. 9, 2026 at 8:49am

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A minimalist, high-contrast studio photograph featuring a sleek, modern architectural model of a multi-unit residential building, made from polished metal and glass materials, floating on a clean white background to symbolize the new Pound Hill Estates development in North Smithfield.A symbolic representation of the new Pound Hill Estates housing development, made possible by a state infrastructure grant that will accelerate construction.East Providence Today

A 47-unit housing development at the former Pines restaurant site in North Smithfield has secured a $517,080 state infrastructure grant, allowing construction to move forward. The Pound Hill Estates project is one of 10 developments across Rhode Island to receive funding through the state's Housing 2030 program, which targets infrastructure tied to new and affordable housing. The developer, Richard Albanese, also owns the former Tupperware mill site in town.

Why it matters

The additional funding will help accelerate the construction of much-needed housing in North Smithfield, which has seen rising real estate prices and limited new development in recent years. The Pound Hill Estates project aims to provide a mix of market-rate and affordable units, addressing the town's need for diverse housing options.

The details

The $517,080 grant will go towards infrastructure improvements at the Pound Hill Estates site, such as roads, utilities, and other site preparation work. This will help the developer, Richard Albanese, move forward with the planned 47-unit residential project more quickly. The Pound Hill Estates development is one of 10 projects statewide that received funding through Rhode Island's Housing 2030 program, which is designed to spur the construction of new housing, with a focus on affordability.

  • The Pound Hill Estates development is planned for the former Pines restaurant site on Pound Hill Road in North Smithfield.
  • The $517,080 state infrastructure grant was recently secured by the developer to support the project.

The players

Richard Albanese

The developer of the Pound Hill Estates project, who also owns the former Tupperware mill site in North Smithfield.

Housing 2030 program

A Rhode Island state initiative that provides funding for infrastructure tied to new and affordable housing developments.

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What’s next

With the additional state funding in place, the developer can now move forward with the necessary infrastructure improvements and begin construction on the 47-unit Pound Hill Estates project.

The takeaway

This grant represents an important step in addressing North Smithfield's housing needs, as the town has faced rising real estate prices and limited new development in recent years. The Pound Hill Estates project, with its mix of market-rate and affordable units, will help provide more diverse housing options for residents.