In real estate terms, it could probably be called a steal. The state last week bought 440 acres of land at Davisville for $62,500.
In a ceremony at the former Navy base at Quonset, Davisville last Monday, U.S. Navy Assistant Secretary William Cassidy presented to Gov. Lincoln Almond the deed for the first installment of 440 acres of federal land at Davisville to be transferred to the State of Rhode Island.
“We all know what this land has contributed to our nation’s history,” said Almond. “For decades, Quonset, Davisville was widely recognized as the hub of defense activity. I remember when Quonset bustled with activity. Thousands of Rhode Islanders and military personnel worked here. For decades, this property was solely dedicated to our nation’s defense. Now it’s contributing to Rhode Island’s diversified economy.”
Almond said that the transfer of the Davisville land will go down in history as one of the “best real estate transactions the state has ever seen.”
“Consider this — we paid about $142 per acre for this property,” Almond said. “We’re currently selling land in West Davisville for $62,000 per acre. What a savings for the taxpayers of Rhode Island.”
The 126-acre parcel transferred yesterday — known as the Administrative Triangle — is located at the entrance of the Quonset Davisville Port & Commerce Park. And includes the Rhode Island Economic Development Corporation building. By the end of the year, the state will receive the deeds for the remaining acres purchased, including a 242-acre Warehouse Triangle parcel at which $10 million of demolition work is expected to begin next month.
“In the coming weeks, we’ll begin razing these abandoned buildings,” said Almond. “That paves the way for us to market this property to encourage new businesses to open their doors here.”
Almond said that plans for the area include a day care center, a hotel and a restaurant.
In 1973, the U.S. Navy announced that the Quonset Point Naval Air Station would be closed by the summer of 1975. Subsequently, the state began negotiations with the General Services Administration to purchase the land. In 1991, the Department of Defense declared as surplus the Davisville Construction Battalion Center as part of the 1991 base closures. These actions have given the state the unique opportunity to combine the two facilities, creating the Quonset Davisville Port and Commerce Park.
