BRISTOL – The first building in The Belvedere at Bristol, a $20 million historic preservation and new construction project, officially opened its doors yesterday afternoon with a ribbon-cutting and penthouse reception.
The project occupies an entire block, straddling the Downtown Historic District and the Waterfront Historic District, noted James W. Roiter, owner of 423 Hope Street Redevelopment LLC.
Its centerpiece is the former Belvedere Hotel, a 107-year-old building constructed by boatbuilder John Brown Herreshoff, who was president of the famed Herreshoff Mfg. Co. Two penthouses and 12 apartments have been completed in the building, Roiter said. They will rent for an average of $2,500 per month.
On completion, the development will feature 28 open-plan luxury residences spread across four buildings. Amenities include fireplaces, elevators, private courtyards, covered parking, a wine cellar and a health club. Apartments in the complex will range from 1,491 to 2,500 square feet.
They are being marketed for their history – both J.P. Morgan and Harold Vanderbilt reportedly were guests at the former hotel – their architectural details and their harbor views.
The development, which received a 22-percent R.I. Historic Preservation and Investment Tax Credit, is the first to be completed since the credit was reduced for projects approved but not completed during 2007, Roiter noted.
“This is the last of a series of projects that are going to be developed under the current credit program,” he said in an interview yesterday with Providence Business News. “It’s too bad, because this is a building that had been sitting vacant and open to the elements for about 10 years.”
Newport Collaborative Architects Inc. served as designers for the project, which blends historic details with energy-efficient modern materials, while Providence-based Nappa Building Corp. undertook the actual construction.
The Belvedere at Bristol is a project of 423 Hope Street Redevelopment LLC, a Bristol-based company founded by Newport native James Roiter. Additional information is available at www.BelvedereAtBristol.com.
