With the signing of its 20th property management contract in the state for the Olney Village apartments, First Realty Management Corp. has opened a regional management office in the city. Located at One Richmond Sq., the new offices will serve as a local hub for First Realty's growing portfolio of luxury condominiums, affordable and conventional apartments, as well as commercial space.
Olney Village is a 40-unit tax credit apartment community by developer Frank Shea, executive director of the Olneyville Housing Corp.
First Realty's client condominium associations include The Carnegie Tower and Carnegie Estates in Portsmouth, Riverfront Lofts in Pawtucket, and a large condominium portfolio in Mass. Apartment communities in the city managed by First Realty include Adelaide Apartments, Beneficent House, Parkis Avenue Apts., Elmwood Revitalization I and II, Olneyville Redux, One Curtis Street, Oxford Gardens, Oxford Place, Riverside Gateway, St. James, Villa Victorian, Westfield Commons and Westfield Lofts.
First Realty also manages the apartments for the elderly at The Meadows in North Smithfield.
With a portfolio of over 6,000 residences, First Realty has been managing developments in the Ocean State since the 1960s, where it manages every type of property from award-winning affordable tax credit and mixed use developments to luxury condominium associations. Last year First Realty was awarded Rhode Island's Private Sector Partners in Housing Award by the governor and also achieved national recognition for The Meadows, which took first place nationwide in the affordable industry's Communities of Quality competition as Exemplary Housing for the Elderly.
In June, First Realty took home the National Apartment Association's highest honor, The Paragon Award, for managing the nation's best large apartment community over 20 years old. Headquartered in downtown Boston, First Realty also has a regional management office in Worcester, Mass.