Group, including Peter de Savary, buying Kaiser complex

PORTSMOUTH — The vacant Kaiser industrial complex overlooking Narragansett Bay
is being acquired by a local area group led by Peter de Savary, British entrepreneur
and former challenger for the America’s Cup, the Providence Journal reported.
The 57-acre site, once occupied by Weyerhauser Lumber, then by Kaiser Industries,
is identifiable by a 270-foot tower. The group, called Carnegie Harbor Village
LP, has reached an agreement to buy the property on Willow Lane for $4.25 million
from Kaiser Industries, the Carnegie group’s lawyers reported. Neil P. Galvin,
of Corcoran, Peckham, Hayes and Galvin, attorneys representing the Carnegie group,
said the group intends to preserve the tower and develop the property into a residential
resort. De Savary also has developed the nearby Carnegie Abbey Club, an 18-hole
Scottish style golf course, on property owned by the Portsmouth Abbey.