PROVIDENCE – A large mill property on Branch Avenue that already has 60 apartments is proposed for redevelopment for additional housing.
The Wanskuck Mill, at 725-745 Branch Ave., is proposed for a renovation that would include an additional 150 apartments, according to City Councilman Nicholas J. Narducci, who represents the neighborhood.
The mill is now owned by Branch Holdings LLC, which purchased the site in late December 2017 for $5.8 million, according to Providence deed records. A $4.8 million mortgage on the property was signed by David A. Corsetti, a Providence developer.
The property was previously held by Branch Realty Inc. It was purchased by Branch Holdings through a receivership process, according to the records.
The redevelopment proposal is seeking a tax-stabilization agreement through the city of Providence. The apartment units will be affordable, Narducci said, in a news release, with rents ranging from $1,100 to $1,400 a month.
The mill has some notoriety.
In 2016, the remains of Steven DiSarro, a former Boston nightclub owner last seen in 1993, was recovered from the property, according to media reports. The recovery of his body led to a murder charge against Francis “Cadillac Frank” Salemme, who was convicted following a trial in Boston.
Salemme has filed an appeal of his conviction, according to The Boston Globe.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
