PORTSMOUTH – J. Brian O’Neill, founder and CEO of O’Neill Properties Group LP, already has been named Businessman of the Year by the Portsmouth Rotary Club in recognition of his work renovating properties on Aquidneck Island. Now, he is building a 21-story residential tower at The Carnegie Abbey Club in Portsmouth, which his company owns.
The project – expected to be ready for occupancy this December – will feature one- to four-bedroom tower 79 units, with prices starting at $850,000, according to O’Neill Properties. More than half already are sold, the company says on its Web site. Cottages and single-family homes at the club range in price from $1.3 million to $5.59 million.
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O’Neill also plans to build a 1,500-slip marina on a 44-acre parcel at Weaver’s Cove, as part of a plan to transform Aquidneck Island into “Nantucket without any of the B.S.,” he told the Newport County Chamber of Commerce in 2006. (READ MORE)Keith W. Stokes, executive director of the Newport Chamber of Commerce and treasurer of the R.I. Economic Development Corporation, said the marina would be the largest in New England and possibly the East Coast.
The project, “adding desperately needed boat slips … will provide a considerable boost in tourism and revenue to the area,” the Portsmouth Rotary said.
His O’Neill Properties, headquartered in King of Prussia, Pa., currently has a portfolio worth more than $2 billion. Since its founding in 1988, it has completed more than 13 million square feet of office space and more than 700 apartments.
O’Neill Properties Group LP focuses on acquiring abandoned or underutilized industrial stites and transforming them into Class-A commercial space or luxury live-work-play communities. For more information on the company and its properties, including The Carnegie Abbey Club, visit www.ONeillProperties.com.
