Providence
Kettle Point Wins Key City Vote; Omni Group Plans $5M Federal Hill Office Project
The East Providence Waterfront Commission has unanimously approved a 407-unit, $75 million residential community planned for Kettle Point, the East Providence Patch reports. Before construction can start, three state agencies including the transportation, environmental management, and the Coastal Resources Management Council are scheduled to review the project.…
Continue reading →Gaia Pays $55M for Two East Providence Multifamily Communities
Gaia Real Estate has purchased the Winchester Park and Winchester Wood multifamily communities in East Providence for $55 million or $115,000 per unit. …
Continue reading →Providence Station on Track for $5.7M Renovation
The Rhode Island Department of Transportation (RIDOT) is planning a $5.7 million makeover of the Providence railroad station. The facility serves over one million Amtrak and Massachusetts Bay Transportation Authority passengers every year. During a ceremony held at the facility on April 15th, Governor Lincoln D. Chafee and other State…
Continue reading →High Rock Seeks Tax Credits for “Superman Building’s” M-F Makeover
High Rock Development of Newton, Mass. is planning to repurpose the 26-story Industrial Trust Tower in downtown Providence from office to residential rental space. According to The Associated Press, the owner of the 350,000-square-foot property intends to build up to 290 apartments on the upper floors, as well as retail…
Continue reading →Omni, WinnDevelopment Wrap $21M West End M-F Rehab
Rhode Island lawmakers have joined Omni Development Corporation, WinnDevelopment, Rhode Island Housing and other community organizations to celebrate the opening of 83 new or completely rebuilt affordable rental homes in Providence’s West End. Called Phoenix Apartments, the $21 million energy-efficient development has been built on the sites of 22 formerly dilapidated…
Continue reading →Washington Trust Finances Historic Downtown Office Building, Parking Facilities
Washington Trust’s Commercial Real Estate Group has recently provided commercial mortgage financing to One Financial Center Plaza, LLC, a 12 story office building located at 10 Weybosset Street in downtown Providence. The multi-tenanted historic building offers 128,000 square feet of space, as well as public lots with 170 parking spaces and…
Continue reading →Court Approves Sale of 82 Acres at Rocky Point for State Park
The state of Rhode Island has received the U.S. District Court’s approval to purchase 82 acres of the historic Rocky Point property in Warwick for $9.65 million. According to the R.I. Department of Environmental Management (DEM), the Court’s decision will allow for the development of a future State Park, just…
Continue reading →Developers Weigh Options for “Superman Building” Makeover
High Rock Westminster LLC, the owner of the 26-story Industrial Trust Tower in downtown Providence, has hired Cornish Associates to study conversion options and redevelop the property. The Providence Business News reports that Cornish has recently commissioned a feasibility study to determine whether a residential reuse of the city’s tallest…
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