Hurricane Carol devastated the area in 1954.
As the club continued to grow it became apparent that more suitable quarters were needed. In 1955 a committee was appointed to find a new site and on October 4, 1955 an historic three story Victorian house at 54 Riverside Drive (next to the lot formerly occupied by the old Fall River Yacht Club) was purchased from club member Ken Brown. Originally known as the Bay View House it was built in 1871 for use as a hotel by Philander Smith. In the 1890's it became a house of entertainment for transients featuring weekly clambake dinners. Later owners are presumed as it has also been known as the Abner Tallman House as well as the “Faucett House”.
The purchased building and grounds enabled TYC to open the 1956 season, under the leadership of Commodore Leonard Mersey, with the added facilities of a bathing beach, senior and junior quarters, a separate galley and new clubhouse furnishings. A new wharf, outdoor barbeque, horseshoe and shuffleboard courts were added in the next few years. The simple "T" dock which extended out into the bay was used for the Candy Boats owned and raced by TYC members. TYC held the majority of trophies in the Candy Class Regattas held throughout Narragansett Bay. The Indian Class of boats appeared during this time.
At the close of the 1958 season TYC family membership had increased to 152 with well over 300 juniors and 27 single adult members. With a total membership in excess of 600, our physical facilities were considered among the finest in the Narragansett Bay area. TYC had one of the most active social and racing calendars on the whole east coast.