Residential Properties completes biggest vacant land sale in Warwick

A VACANT, 7-ACRE PROPERTY in Warwick sold recently for $1.25 million in the biggest vacant land sale in city history, according to Residential Properties Ltd. / COURTESY RESIDENTIAL PROPERTIES LTD.

WARWICK – A 7-acre property on Kilvert Street sold for $1.25 million in the largest vacant land sale in the city’s history.

The property, bordered by Dorrance and Craystone streets, will be developed into a mix of rental and condo units, according to Residential Properties Ltd. and its Bessette, Veloso & Fava Group, which represented both sides in the transaction.

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The Warwick Planning Board recently gave combined preliminary and final master plan approval to an application for a 73-unit multifamily residential development, with 54 townhouse-style units with access to Kilvert Street and 19 single-family units with access to Graystone Street, according to public records.

The vacant property, bought by HillsGrove Homes LLC, was sold by a company formerly known as Gore-Kev LLC, a Nevada limited liability company, according to a deed transfer that was recorded in the city on Sept. 9 documenting the land sale.

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Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.

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