Glen Weisberg, spokesperson for the Purchase, NY-based TuckermanGroup, 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 theTuckerman Group's Multi-Family Development Program III, aspecialized investment program focused on the ground-up developmentand eventual sale of "high-quality" multifamily properties.

Upon completion, GrandeVille will be part of the Village atSouth County Commons, a planned development that will include a mixof residential, commercial, and retail uses. The project is locatedapproximately 30 miles south of the central business district ofProvidence, RI. The property will consist of seven three-storygarden apartment buildings, six carriage homes, and a 4,700 sfclubhouse that will feature a fitness center, business center, andconference room.

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