PROVIDENCE – A large mill property on Branch Avenue that already has 60 apartments is proposed for redevelopment for additional housing.
The Wanskuck Mill, at 725-745 Branch Ave., is proposed for a renovation that would include an additional 150 apartments, according to City Councilman Nicholas J. Narducci, who represents the neighborhood.
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The mill is now owned by Branch Holdings LLC, which purchased the site in late December 2017 for $5.8 million, according to Providence deed records. A $4.8 million mortgage on the property was signed by David A. Corsetti, a Providence developer.
The property was previously held by Branch Realty Inc. It was purchased by Branch Holdings through a receivership process, according to the records.
The redevelopment proposal is seeking a tax-stabilization agreement through the city of Providence. The apartment units will be affordable, Narducci said, in a news release, with rents ranging from $1,100 to $1,400 a month.
The mill has some notoriety.
In 2016, the remains of Steven DiSarro, a former Boston nightclub owner last seen in 1993, was recovered from the property, according to media reports. The recovery of his body led to a murder charge against Francis “Cadillac Frank” Salemme, who was convicted following a trial in Boston.
Salemme has filed an appeal of his conviction, according to The Boston Globe.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
