NORTH KINGSTOWN – The Quonset Development Corp. said Monday that it has chosen New Boston Development Partners LLC, of Boston, from among three finalists, as the designated “preferred developer” for the gateway site to Quonset Business Park.
The site is at the western entry of Quonset Business Park, with more than 600 linear feet of frontage on Route 1, divided by Gate Road into two distinct parcels. The selection gives New Boston an exclusive option period to negotiate site control and begin the project approval process with the QDC, which is expected to take about 3 months. Construction is to begin by next spring.
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The QDC said the choice was based on “several strengths”: New Boston’s financial capacity to execute the project, the overall experience of the firm in developing many different product types, the commitment of the architect to using guidelines in the South County Design Manual, and the regional and national reputation of the firm.
The QDC began marketing the Quonset Gateway as a redevelopment opportunity last December. Developer candidates were evaluated based on their ability to execute a concept incorporating office, retail, hotel and other commercial land uses, in line with the 2003 Master Plan.
“Over the course of this six-month process we have met with many qualified firms and narrowed the field down to three who stood out from the rest,” said Geoffrey Grout, CEO of the Quonset Development Corp. “Our decision to go with New Boston was based on our sense that they have the right leadership to make our vision a reality in a timely fashion.”
Quonset Business Park is a 3,174-acre, master-planned industrial park with over 590 acres proposed for new industrial and commercial development. Park tenants now employ about 6,600 people, and infrastructure is planned for a population of 18,000 when the park is fully built out.
The gateway site includes an 18-acre parcel north of Gate Road, an 11-acre parcel south of Gate Road, and the option to utilize another 59 acres of Parcel 3 of the Executive Park District if the developer wishes to submit plans for the entire 87 acres.
The Quonset Development Corp. is a quasi-public company formed as a subsidiary of the Rhode Island Economic Development Corp. to develop and manage Quonset Business Park. The QDC is guided by a QDC Master Plan with the goal of attracting and retaining successful businesses to provide high-quality jobs for Rhode Islanders. Its home page is www.qdcri.com.
