Glen Weisberg, spokesperson for the Purchase, NY-based Tuckerman Group, tells GlobeSt.com that the project's total capital cost is $19 million with the firm's equity investment in the project set at $3.1 million. GrandeVille is the second transaction for the Tuckerman Group's Multi-Family Development Program III, a specialized investment program focused on the ground-up development and eventual sale of "high-quality" multifamily properties.

Upon completion, GrandeVille will be part of the Village at South County Commons, a planned development that will include a mix of residential, commercial, and retail uses. The project is located approximately 30 miles south of the central business district of Providence, RI. The property will consist of seven three-story garden apartment buildings, six carriage homes, and a 4,700 sf clubhouse that will feature a fitness center, business center, and conference room.

Construction of the project is set to begin this month with the delivery of the first units for occupancy scheduled for this coming summer. SouthTrust Bank is providing the construction loan.