Omni Development Corporation - About The Company

The Beginning (1986 – 2005): Omni Development Corporation began in 1986 as an affiliate of the Opportunities Industrialization Center (OIC) of Rhode Island.

In the 1980s, OIC was the state's leading adult training and job placement institution. This organization also fulfilled a need for quality, innovative economic development initiatives aimed at serving persons of low to moderate income, predominantly those classified as racial and ethnic minorities.

Since its founding, Omni has been devoted to the development of safe, quality, affordable housing for individuals and families earning at the lower end of the economic spectrum. Its initial venture, called Friendship Place, transformed a long-standing vacant eyesore into a vibrant community asset that provided six new homes for South Providence families.

In 2004, Omni purchased and restored vacant commercial real estate at 810 Eddy Street in Providence, which currently serves as its headquarters.

From the beginning, Omni's success has been attributable to a clear understanding of the needs of its customers, along with dedication to preserving and restoring many distressed properties of historical significance.

Over the course of its first 20 years, Omni completed the following developments: Friendship Place, Niagara Place, The Governor, Whitmarsh Apartments, Harvard-Broad, Harvard/Broad/Comstock, Lockwood Plaza, Olney Towers, Spring Villa, Waterview Apartments, 810 Eddy Street, and Maple Gardens.

The Present (2006 – 2011)

Today, Omni is regarded as a reliable, proven leader in the state's affordable housing industry. It ranks in the top three producers of units for low-to-moderate income families in Rhode Island over the past two decades. Omni's greatest strength is its proven ability over 25 years at managing difficult development projects and completing them in a successful manner. It has proven itself especially adept at working well on projects within challenging urban neighborhood environments.

Omni has adapted well to dramatic changes in financing and regulatory mechanisms governing the construction and operation of affordable housing. Its reputation in the local housing market remains strong, especially with key network partners such as Rhode Island Housing, the City of Providence, the Corporation for Supportive Housing, HUD, the Local Initiatives Support Corporation, and the Rhode Island Housing Resources Commission.

In addition to serving the housing needs of low-to-moderate income families, Omni has also undertaken developments that are specific to the unique challenges faced by the elderly, the disabled, and homeless U.S. veterans.

Over the past 5 years, the following developments have been undertaken: Omni Point, Rockland Place, Black Rock Estates, and Turning Point. In 2011, its current developments include:

1890 House is a mid-rise building containing 52 apartments. Originally constructed in 1905 as a YWCA, it was renovated and converted to its current use in 1972. It is now scheduled to undergo major rehabilitation, bringing these 52 rental units onto the affordable housing market. The 1890 House is conveniently located in downtown Providence, near the Cathedral of Saints Peter and Paul and Cathedral Square.
Cornplanter Row Apartments, located in the South Providence neighborhood, is presently in the renovation stage, with completion expected in late 2011. This project involves the substantial rehabilitation of 36 units of rental housing that had fallen into serious disrepair. These low-to-moderate income units are being upgraded with tenants in place.
Phoenix Apartments, located in the West End neighborhood of Providence, is a scattered site development consisting of 83 units of affordable housing for qualified families. The project will involve substantial rehab of 22 existing, dilapidated buildings, and one vacant commercial storefront, while using green, energy-conserving building techniques. Undertaken in partnership with WinnDevelopment, this development promises to strengthen the fabric of the neighborhood by turning blighted assets into homes that the community can be proud of.

The Future (2012 - ): Omni's next decade will be defined by a continued dedication to its primary mission of providing safe, quality, affordable housing to meet the needs of lower-to-moderate income families.

Turning Point II, which is in the active planning stage. Omni recently acquired this 3-story brick and masonry building with plans to renovate it to contain 12-16 units of affordable housing for veterans. Located in the Elmhurst neighborhood of Providence on Convent Street, this circa 1940 structure is in close proximity to the Veterans Administration Medical Center.

Currently in the conceptual planning stage, Turning Point III is being designed to provide an unspecified number of units exclusively for female, single-parent veterans and their families.

Also, the company is seeking to become the developer of record for the restoration of a former gas station and garage located in South Providence. To be named Castle Corner, this project also proposes to feature a new single-family home that will be built using state-of-the art energy conserving and renewable energy technologies. When completed, Castle Corner will serve as a model for a new generation of energy-efficient, affordable housing with as close to a zero-carbon footprint as possible.

Omni's vision for the future is to become an exceptional steward of both the natural and built environments, dedicated to the wisest possible use of limited energy resources.

JOSEPH A. CAFFEY President: Mr. Caffey is a graduate of Providence College (RI) and completed the Massachusetts Institute of Technology's Minority Developers Executive Program.

A lifelong resident of Rhode Island, Joe has been the president and chief executive officer at Omni Development Corporation since 1991. Prior to that, he held senior planning positions with the City of Providence, the City of East Providence, and the Rhode Island Plan.

Mr. Caffey has professional affiliations with the Rhode Island Housing Network, the Housing Resources Commission, and the National Leased Housing Association, where he serves as vice president of the Board. He is also a member of the Mayor's Finance Committee, the Housing Network, Grow Smart Rhode Island and the Housing Partnership Network.

Currently, Mr. Caffey serves on the Providence College President's Council and the Alumni Board of Governors, the Brown University Civic Leadership Council, the Providence Economic Development Partnership, and the Rhode Island Human Resource Investment Council. He has been the recipient of numerous awards including the Frederick Williamson Preservation Award from the Rhode Island Historic Preservation and Heritage Commission, and was named one of the 50 most influential people in historic preservation in Rhode Island.
THOMAS F. O'CONNOR, JR., Esq. Chairman Self-employed Attorney: Mr. O'Connor is a graduate of Roger Williams University (RI) and earned his juris doctorate degree from the New England School of Law (MA).

Mr. O'Connor served in the U.S. Marine Corps during the Vietnam conflict, serving a tour of duty in Vietnam from 1967-1968.

Earlier in his career, Mr. O'Connor worked as a longshoreman on the City's waterfront and then as an Associate Director for Project Management and Construction, and subsequently as Deputy Director, at the City of Providence Department of Planning and Development. He also served on the City Port Commission and as Executive Director of the Port of Providence.

His current affiliations include the International Longshoremen's Association. Over the course of decades of community service, Mr. O'Connor has held elected office as a member of the Providence City Council (1979-1989) and also served as a member of the Providence School Committee (1973-1979). Since 1993, he has been a lawyer in private practice.

Mr. O'Connor has served Omni as Chairman of its Board of Directors since 2009. He previously served as Omni's Chairman from 1998 to 2003 and returned to the Board in 2009.
Joseph A. Caffey President
Lawrence E. Brown, CPA Vice President
Elaine V. DeAngelis Administrative Assistant
Thomas F. O'Connor, Jr., Esq. Chairman Self-employed Attorney
Stephen T. Napolitano, Esq. Vice Chairman Self-employed Attorney
Laurence K. Flynn Secretary Director of Elections, Town of North Providence, Rhode Island
Michael D. Aaronson, CPA Treasurer President, Aaronson, Lavoie, Streitfeld, Diaz & Co., PC
Renee L. Bailey Guidance Teacher Leader, Central High School; and Associate Professor, Providence College
Robert L. Brooks Hearing Officer, Rhode Island Department of Motor Vehicles
Douglas T. Brown President, Keough Kirby Associates, Inc.
Michael R Clement Retired City Clerk, Providence, Rhode Island
John W. Lopes President, Local 1329, International Longshoremen's Association
Charles C. Newton Director, Office of Minority Business Assistance, State of Rhode Island
Kathy Placencia Administrator of Elections, City of Providence Board of Canvassers
Jill Rios Clerk, City of Providence Board of Canvassers
Peter M. Scotti President, Scotti and Associates Real Estates Sales and Appraisals
Hon. Judge Walter R. Stone Associate Justice, Rhode Island Superior Court
Darrell Waldron Executive Director, Rhode Island Indian Council

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