Richard Baccari II is CEO and president of Churchill & Banks Cos. LLC. He initially joined the firm as property manager in 1999, was promoted to vice president of development in 2001, and then elevated to his present position of CEO and president in 2015.
Baccari is a former member of the Downcity Design Review Committee, which was created to administer regulations for the Downcity District in Providence and is authorized to conduct sign review and other matters in the district. A licensed real estate broker in Rhode Island and Massachusetts, Baccari is a Bryant University graduate with a bachelor’s degree in business management.
PBN: The East Point development has been years in the making, and now the first condo has finally been sold. What were some of the unique challenges or milestones in bringing this luxury waterfront project to life?
BACCARI: This property has been sitting idle for over 30 years since it was last used as Ocean State Steel. It was saddled with rezoning disputes, environmental issues, legal challenges, bankruptcy disputes and accessibility issues. I would say that the major milestone in redeveloping this site was obtaining the rights to cross the P&W Railroad line, which has probably been the biggest challenge for any developer that considered buying the land over the years.
Without access to the 20 acres along the Seekonk River and without the ability to bring public utilities to the site under the railroad, the project would not be feasible. It took three years to negotiate an access agreement with the railroad and the Public Utilities Commission, and last spring we were able to install the utilities and the new access roadway and signals for the crossing.
PBN: East Point offers stunning views of the East Side and is near Agawam Country Club. What was your vision for this development, and how do you think it enhances the East Providence community?
BACCARI: The site is absolutely beautiful, with almost a half mile of coastline on the Seekonk River overlooking the Blackstone Park state preservation land on the East Side. My vision was to revitalize the Rumford area with an entirely new community that will have various types of housing units from midrise apartments for rent to luxury single-family homes and everything in between. We will have a price point for almost any buyer or renter.
To be able to build 392 units on 30 acres along the waterfront in R.I. is almost impossible anywhere else besides East Providence. The zoning that the East Providence Waterfront Commission created to allow for real density along their waterfront is a unique model for anywhere in the Northeast. We need more cities and towns to recognize the only way to increase the housing stock in R.I. is to allow for more density and smart development like East Point.
PBN: The luxury condo market can be competitive. What trends in the Rhode Island real estate market influenced your approach to designing and pricing the units at East Point?
BACCARI: We had great success at Kettle Point, which was the first luxury waterfront project in East Providence. I took that experience and wanted to improve our product by creating single-family condominiums. These are single-family structures with no common walls but have all the benefits of condo living. The homeowner does not have to worry about any maintenance but has the freedom of not having a neighbor directly attached or above their home.
The interiors are beautifully appointed with herringbone hardwood floors, quartz countertops with full backsplashes and waterfall edges, Thermador appliances and large baths with customized walk-in showers. We have some homes with elevators, which allows buyers the ability to age in place should mobility issues arise. The main attraction is the view. It is unobstructed and we have two decks on the back of the homes – one on the first floor and one on the second floor – that give the resident privacy and a place to relax and watch the sunset at the end of the day.
PBN: As CEO and president of Churchill & Banks, what principles or strategies have been most critical to the company’s success, particularly in navigating large-scale projects like East Point?
BACCARI: Courage, hard work and persistence have been critical to the company’s success. Additionally, the ability to collaborate and work well with others while maintaining focus on my personal vision for the project has played a key role in navigating large-scale developments like East Point.
PBN: Looking ahead, what’s next for Churchill & Banks? Are there any new developments or areas of focus that you’re particularly excited about?
BACCARI: We have multiple projects in the pipeline in R.I. We own an exceptional piece of property at 20 Goddard Road in Cranston that was once the state prison. We recently completed the demolition of the building and are actively working on development plans. We have a few big-name tenants that are considering the property right now and plans approved for 220,000 square feet of commercial space.
We have up to 100,000 square feet available in the new Providence Industrial Park that we are developing at Branch Avenue and Veazie Street. We also have two projects in Smithfield that are in the permitting process and would lead to large-scale commercial development and roughly 200 residential units combined. We have two residential/mixed-use projects downtown that will be coming to city planning soon, one on Imperial Place in the Jewelry District and one on Greene Street, which would be 250 new residences combined.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
