EAST PROVIDENCE — For Richard Baccari II, the developer and owner of Kettle Point LLC, the effort to turn his project at East Providence's waterfront into a reality truly has been a proverbial labor of love. It's been every bit as taxing as one would expect and more, but it's coming to fruition as work at the site shows.

Mr. Baccari recently announced a pair of noteworthy updates to the plan. University Orthopedics has joined the project, the practice planning to shortly start construction on a 90,000 square foot office. Kettle Point LLC has also entered into an agreement with AR Builders, Inc. of Pittsburgh, Pennsylvania, which will construct 228 "luxury" apartments. According to Mr. Baccari, the apartments will be built as five individual buildings, including a central clubhouse with high end amenities. The final element of the development is the construction of 62 townhouse style duplex condominiums, which will face the shoreline.

Mr. Baccari explained the reduction in housing was a response to the market place and the medical facility will only enhance the overall prosperity of the plan.

"The key to whole deal being a success was the change in the number of apartment units from the original 407 to the 228 number. The issue of having so many apartments to build out over a 5 or 6 year period and the 62 condos would have been for the market to absorb," Mr. Baccari added. "Now that it's only 228 apartments, the majority of those units should be up in the first year. We got rid of one of the big apartment buildings and added the University Orthopedics building, which made it into three individual projects going on at once."

The townhouses are the centerpiece of the housing element, with views of Narragansett Bay north to downtown Providence and south towards Sabins Point. Prices will range from $409,000 to $650,000.

"Adding University Orthopedics as a partner has really been a boost to pace of development," Mr. Baccari said. "The last piece, 62 condos, will start in the fall. After really looking at it, in Rhode Island that's what people want. They're all going to face the waterfront. The master bedroom will be in the first floor and there will be a walkout basement. We think it's a perfect space for people who want to downsize."

Of the pace and progress of Kettle Point, Mr. Baccari added, "We're in a really good spot right now."

Two years ago when Mr. Baccari bought the 47 acre site from British Petroleum, it was admittedly an "ambitious" endeavor to regenerate the Kettle Point property to the point it is now in such a short span of time.

Though he didn't underestimate the administrative and environmental hurdles he would face, the exercise at certain moments certainly did test Mr. Baccari's patience and resolve. However, he credited the city for its attempt to streamline the zoning and approval processes in an effort to spur his and similar projects.

"The big point of the whole story is it is a really tough site," he said. "All of these projects are. You know that going in, but to overcome obstacles of working with all of the different city and state agencies, it was a lot of effort on our part. A lot of risk was taken on our end, but we felt real estate was worth the risk. Being on the water, near the bike path and on Veterans Parkway in East Providence was important for us."

As it is for the city and the East Providence Waterfront Commission. Acting Chairman Bill Fazioli said while Kettle Point as originally intended would have been a boost, the addition of University Orthopedics was very significant as Mr. Baccari suggested.

"The commercial aspect is always key. There's a strong commercial component to both Kettle Point and Village on the Waterfront," Mr. Fazioli said of Kettle Point and its nearby neighbor north on the Parkway. It just makes the project more economically more viable when you have that. And with the addition of the University Orthopedics building, it makes the project that much more stronger. Because you have taxpayers who are going to be here on Day One. They're going to be paying a substantial amount in property taxes."

The Tax Increment Financing plan, which the commission and the city put into place several years ago, has been intergral in luring investors to East Providence, specifically the waterfront district. The TIFs allow the city to borrow money towards the necessary infrastructure improvements (i.e. water, sewer construction), which are paid for from a portion of the revenue generated by the developments, according to Mr. Fazioli.

"This project and all the contaminated waterfront projects would never happen without the Tax Increment Financing that the city offers," Mr. Baccari added. "It is a very important tool that spurs economic development especially on contaminated sites such as this. The infrastructure work and environmental cleanup would never happen without the TIF.

"I think it is important to make clear that the city planning (department) and waterfront commission have made the TIF the key to unlocking a revitalizing the city of East Providence and the long term benefits for the city from an economic, community enhancement and environmental standpoint are so tremendous its difficult to put an actual dollar amount to it."

From the developers perspective, at least, it's another proverbial "win-win" situation for both himself and East Providence, and it could become the blue print for similar projects in the future.

"I really do think the way this is being done will be a model for the rest of waterfront development in East Providence and the rest of the state for that matter," Mr. Baccari added.