Washington Trust finances $28.8 million for South Kingstown multifamily housing construction
June 12, 2026
WESTERLY, R.I. — The Washington Trust Company has financed a $28,800,000 construction loan for new multifamily housing in South Kingstown, Rhode Island.
The borrower, Residences at South County Commons, LLC, is adding a 104-unit upscale apartment complex at The Village at South County Commons. The luxury apartment homes will be housed in two elevatored buildings within the village, enjoying convenient access to the retail and dining amenities in South County Commons as well as Route 1. Site work is currently underway, and the first units are expected to be available in summer 2027.
“This project brings together residential, retail, and commercial uses to create convenience and walkability that benefit both residents and nearby businesses” said Bethany Lyons, senior vice president and managing director, commercial real estate at Washington Trust. “We are pleased to support our borrower’s well-integrated approach to mixed-use development.”
Washington Trust has a long history of supporting residential development projects throughout Rhode Island and southeastern Connecticut, helping to strengthen communities through strategic financing solutions.
ABOUT THE WASHINGTON TRUST COMPANY®
Founded in 1800, The Washington Trust Company (“Washington Trust”) is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. In 2025, Washington Trust reached a milestone of 225 years in operation, marking its commitment to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.