The start of the "Penny Lane" affordable housing development off Child Street long ago dropped, the intended site of 16 new residential structures coming into focus with each passing week.

The project is being done by the non-profit East Bay Community Development Corporation. The Bristol-based EBCDC is building the multi-family style residences with a total of 40 units on the 4.5-acre site of a former cornfield.

"The Penny Lane Neighborhood project remains on schedule for a summer of 2027 delivery in spite of an unprecedented winter of 2026 and a number of severe rain events this spring and summer," said Diane Mederos, Executive Director of the EBCDC.

Ribbon cutting took place in late 2025. The intended timeline for construction was 15-to-18 months. Mederos said construction crews "of every trade continue work on a daily basis," adding the overall project as of late August is
"25%-30% completed."

The design is following what is called "a traditional neighborhood" concept with the houses connected by "a pedestrian-friendly streetscape and green spaces."

According to Frank Spinella, of FJS Associates in Middletown which consults the EBCDC, the property is deed-restricted to remain low-income housing for a period of at least 99 years.

Penny Lane is similar to a pair of other endeavors completed relatively recently by the EBCDC in Barrington known as "Palmer Point" and "Sweetbriar."

It will add considerably to Warren's need to meet the state mandated 10% affordable housing threshold as well as the EBCDC's stock in town, which currently numbers only four units in the former St. Jean Baptiste Church convent off Main Street.

The project is utilizing an existing element of the property, the renovation of the farmhouse abutting Child Street into two separate residences. The farmhouse refurb is about "70% completed," said Medeiros with finish work underway, consisting of flooring, tile work, painting, carpentry, siding and trim.

It will be the first building to come online with a target occupancy date of November 1 this year.

New to the parcel will be 14 townhouse-style structures along with a garage/utility building. The residential units range in size from one to three bedrooms. The utility building was originally described to include a common laundry room and the property management office.

Mederos described what has transpired at Penny Lane since construction began. Eleven of the 15 concrete foundations are in place and 10 of the concrete slabs have been laid.

"Wood framing is underway on six of the 15 new buildings as you can see the building shells starting to pop-up as we go vertical," Mederos added. "Exterior trim, siding and roofing is underway at various stages on several buildings.
Rough plumbing, HVAC and electrical work is well underway."

She continued, "Extensive site work and site utilities continue to progress daily. The town’s building and fire departments have been working seamlessly with required permitting and inspections."

Per its application with Rhode Island Housing, which helped fund the project, all 40 units at Penny Lane will be offered to families with incomes at or below 60% of the area median income (AMI). The most recent figure available via the United State Census Bureau through 2024 puts Warren's AMI number at $90,729.

Included among those units are eight set aside by the Warren Housing Authority for residents who can receive Project Based Vouchers at or below 30% of AMI. In addition, two units are designed to be handicapped accessible.

Said Mederos as of late August, the EBCDC has received 31 applications for Penny Lane after advertising in the East Bay Media Group (parent company of The Warren Times-Gazette), Craig's List and Facebook.

"We are getting about 10 calls a day and have mailed out over 150 applications thus far," Mederos added.