BankRI provides $20M loan to finance construction of Hammetts Wharf Hotel

PROVIDENCE – Bank Rhode Island said it has procured financing to provide a $20.5 million loan to Newport-based Hammetts Wharf LLC for construction of an 84-room hotel on America’s Cup Avenue in the seaside city. It is the first waterfront development project approved in Newport in more than two decades, according to BankRI, part of…

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