Mega-Apartment Plan Emerging for Vacant Fruit and Produce Market Land
Wednesday, December 21, 2016
Super developer Carpionato Group is rolling out plans for a development for the Furit and Produce Building land. The property has been vacant for nearly a decade.
SEE THE NEW PROJECT BELOW
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTAs GoLocal reported in May of 2014, to date the property has not been developed.
Following its purchase of the warehouse from the state -- and controversial demolition of the historic property in 2008 -- Carpionato, the Johnston-based commercial real estate firm, had presented plans to turn the former fruit market into a mixed used office, retail and hotel development, which have not materialized. The city granted Carpionato preliminary approval for a surface parking lot at the location in 2013.
"It was then my belief and seems now to be confirmed, that Carpionato always intended to create a parking lot on that site and nothing more," said real estate agent Erik Bright, who is the Director of PCIS (Providence Creative Industrial Space) and was active in opposing the demolition of the historic Harris Avenue building.
The Rhode Island Department of Transportation, which had acquired the Fruit and Produce building in 1998 for $14 million, sold the property to Carpionato in 2005 for $4.3 million with the understanding the property would be rehabilitated.
However, in 2010, the Federal Highway Administration demanded from Rhode island repayment of over $4 million of the $14 million in federal money spent on the purchase, citing the failure in attaining "fair and equitable compensation" for the sale of the property. According to news reports, the state agreed to pay Carpionato $600,000 last summer to buy back a portion of the land for transportation and Amtrak related purposes.
Now a Mega Project
The project would incldue more than 450 apartments, a major parking garage, and would be located at 100 Harris Avenue
Related Slideshow: Mega-Apartment Plan Emerging for Vacant Produce Market Land
Related Articles
- 195 Bidder Carpionato Failed to Redevelop Providence Fruit Market
- Wexford Asks for $32M for 195 Project, Tenant Says Might Not Work in Providence
- The Most Famous Band Formed Each Year Since 1951
- EXCLUSIVE: Major Music Promoter Eyeing 195 Stadium Land in Providence
- Guest MINDSETTER™ VanderWeele: The I-195 Land - Subdivide & Conquer
- Thoughts on Dumbing Down Politicians, Visual Illiteracy, and I-195
- 195 Commission Chair Defends Lack of Progress on Jobs, Construction
- New “One Tower” Design for 195 in Providence Draws Mixed Reaction
- Critics Raise Questions Over New 195 Tax Break Plan for Providence
- 195 Commission Announces New BioTech Proposal for Providence Land
- Owners of Potential New PawSox Site Issue Statement As Alternative to 195 Land
- NEW: Providence Stadium Deal Opponents Pressure 195 Commission into Open Meeting
- NEW: Providence Foundation Endorses 195 Location for Stadium
- NEW: 195 Redevelopment Consultant Contract Draws Nine Bidders
- Raimondo Names 6 New 195 Commissioners
- Providence City Council Members Question Dormitory Deal on 195 Land
- PODCAST: Opponents Blast Tax Breaks for 195 Dormitory Deal
- Opponents Blast Tax Breaks for 195 Dormitory Deal
- Minority Contractors Question Being Blocked From I-195 Development
- Will 3 Towers on 195 Land Kill Superman Building’s Future for Residential?
- NEW: 195 Commission Director Brodie Resigns
- Aponte Slams 195 Tower Proposal in Providence
- Providence Preservation Society Opposes 195 Location for Stadium
- Take a Tour of the Proposed 3 Towers on 195 Land
