WARWICK – The Rhode Island Airport Corp. announced a new initiative that including the resale, leasing and razing of 10 RIAC properties outside of T.F. Green Airport’s perimeter Thursday.
The initiative includes the demolition of at least seven rundown structures north of the airport on Airport Road.
The following properties located in the Runway Protection Zone will be demolished and converted to green space:
- 731 Airport Road
- 747 Airport Road
- 757 Airport Road
- 14 Roseland Ave.
- 22 Roseland Ave.
“Plans are underway to address vacant properties within RIAC’s control to promote economic development,” said Iftikhar Ahmad, president and CEO of The Rhode Island Airport Corp. “Over the next year, we will implement a plan to improve the condition of properties surrounding the airport, which will help to encourage economic growth and redevelopment in the area.”
Demolition is expected to take place during the next six months.
The property at 561 Airport Road, the former site of the “iconic dome” north of the runway, is being developed by Enterprise Rent-A-Car on a long-term lease. Enterprise is currently finalizing its plans for the property.
The lease with Enterprise is for approximately 5.4 acres. Current annual rent is approximately $287,000. The initial lease term is five years with five additional five-year option terms, according to a spokesman for the RIAC.
RIAC also said the plan included the sale of property at 1910 Post Road, the former Atwood Grill property, to the Procaccianti Companies, to augment the company’s current revitalization efforts of the new Marriott Fairfield Inn Hotel, currently known as the Roadway Inn.
A spokesman for the RIAC said that 1910 Post Road sale price was $1,635,000.
The RIAC announced that in addition to 1910 Post Road, the corporation is seeking to sell the property at 2119 Post Road, the former LAZ parking facility. The RIAC acquired the 6.5 acre property in 2016. An asking price has yet to be determined as of Thursday.
“The city is pleased to be working cooperatively with RIAC on this initiative, which is critically important to our shared efforts to bolster economic development opportunities in and around City Centre Warwick and improve the appearance of our community,” said Warwick Mayor Scott Avedisian. “The resale of properties identified for redevelopment will return these parcels to our tax rolls – a significant goal identified in our Comprehensive Plan, and strongly supported by this administration.”
The RIAC also identified property for which it has not yet determined a purpose, but is included in the corporation’s revitalization plans:
- 2222 Post Road – Future use to be determined within Airport Master Plan
- 2282 Post Road – Future use to be determined within Airport Master Plan
Chris Bergenheim is the PBN web editor.
