|
|
|
UER Store
|
|
order your copy of Access All Areas today!
|
|
|
|
|
|
|
Location DB >
United States >
Rhode Island >
Warwick Neck >
House
|
Log in to activate viewing options
|
|
|
|
Publically Viewable |
This location has been labeled by its creator as Public, and therefore can be viewed by anyone.
|
|
|
|
|
|
Type: Building
Status: Abandoned
Accessibility: Easy
Recommendation: check it out if you're nearby
|
|
|
Address
Warwick Neck, Rhode Island
United States
Owner:
|
|
|
|
|
|
|
|
|
|
Rocky Point homes likely 5 years away The site of the former amusement park is auctioned on a conference call among five finalists. The winning bid is $25 million. 01:00 AM EST on Friday, November 7, 2003 BY DANIEL BARBARISI Journal Staff Writer WARWICK -- It could be five to seven years before a large new residential development at the former Rocky Point Amusement Park site is complete, according to the U.S. Small Business Administration, which finalized a deal to sell the property for $25 million Wednesday afternoon. Developer Arnold Goodstein, of Vanderbilt Capital LLC, plans to build up to 350 condominiums, townhouses, and single-family homes on the 123-acre property. Rocky Point Avenue will be used as the primary entrance and egress. Goodstein declined to comment on the specifics of his proposal until a purchase-and-sale agreement is finalized, which Rhode Island SBA Director Mark Hayward said will happen within 21 days. The agreement must then be approved by the U.S. District Court. The property was auctioned Wednesday afternoon in a conference call among five finalists: Vanderbilt, Fafard Company of Boston, Acquisition Strategies/Worcester Capital Group LLC, Rocky Point Land Company, and RLS/Simms, Hayward said. The bids began around $12.5 million, and quickly headed upward in minimum increments of $100,000. Three of the bidders dropped out, but Vanderbilt and a second company, believed to be Fafard, kept upping their bids. "As we got higher in the numbers, we were down to just a couple," Hayward said. After two hours, the bidding topped out at $25 million, a price Hayward said the SBA was very happy with. It will go a long way toward paying off the creditors of Moneta Capital Corp, the property's former owner. Now that a buyer has been found, the top priority from this point forward, according to U.S. Sen. Lincoln Chafee, is ensuring that the city gets the open space and public access that the developers promised as a condition of entering negotiations. "The staggering price tag shows how special Rhode Island real estate has become. We all have known that but now others are realizing it," said Chafee, the former mayor of Warwick. "I know development is important for Warwick's tax rolls, and I am sure that through the zoning and planning process, public access to the shore will be a priority," he continued. Warwick Mayor Scott Avedisian said that he's confident the city will get everything it's promised, and may use $2.25 million in federal matching funds secured by U.S. Sen. Jack Reed to leverage the open space purchases. Avedisian said he was particularly impressed with Goodstein's proposal, which seemed to be more than a cookie-cutter housing project. "It really creates this attitude on the property, so that it would not be only a home for people to live, but a part of the Warwick Neck community," Avedisian said. Goodstein, 59, is a former South Carolina state senator and a personal-injury and environmental lawyer. He first became involved with the property when he stopped in Rhode Island to visit one of his children, who was a student at Brown University. Luxury home builder Toll Brothers properties is also a member of his development team, and is believed to be the builder. Toll Brothers spokeswoman Kira McCarron said yesterday that Toll Brothers was in no way involved with purchasing the property, however.
|
|
|
|
|
|
|
|
The moderator rating is a neutral rating of the content quality, photography, and coolness of this location.
Category |
Rating |
Photography |
3 / 10 |
Coolness |
3 / 10 |
Content Quality |
2 / 10 |
|
|
This location's validation is current. It was last validated by
Mike Dijital on 9/24/2015 3:11 AM.
|
|
|
on Sep 24 15 at 3:11, Mike Dijital validated this location on Sep 24 15 at 3:11, Mike Dijital added some pictures to a gallery on Sep 24 15 at 3:10, Mike Dijital created a new gallery on Sep 24 15 at 3:10, Mike Dijital made this location available on Sep 24 15 at 3:10, Mike Dijital updated the main picture on Sep 24 15 at 3:09, Mike Dijital changed the following: Notes for Mods, Type, City, Province / State (please use full name), Country, Publically Viewable, History, Status, Accessibility, Interesting Features, Recommendation, Media Coverage, Future Plans, Description, Web Links
|
|
|
|
|
Is this location inappropriate / broken / missing key info?
If it's something you can fix, please scroll up and click the EDIT button.
If this location was only posted a few days ago, give the creator time to work on it.
Please try sending a message directly to the creator of the location. You'll find that info at the top of this page.
Otherwise, ONLY if you've already tried to contact the original creator,: Click here to notify an administrator.
|
|
|
|
All content and images copyright © 2002-2024 UER.CA and respective creators. Graphical Design by Crossfire.
To contact webmaster, or click to email with problems or other questions about this site:
UER CONTACT
View Terms of Service |
View Privacy Policy |
Server colocation provided by Beanfield
This page was generated for you in 125 milliseconds. Since June 23, 2002, a total of 739281544 pages have been generated.
|
|