Warren to purchase site on Palmer River from National Grid

WARREN – The town is moving forward to purchase a critical site on the waterfront from National Grid, which would allow it to create a visitor- and resident-oriented destination, according to a recent news release.

Warren officials announced in late September the town had entered into a purchase and sale agreement for 31 Main St., a property it had hoped to purchase for many years.

The agreement applies to 1.38 acres formerly used by the Narragansett Electric Co. as an operations and maintenance building. The property is next to the renovated Tourister Mill project, which was converted to apartments by a private developer several years ago.

The purchase price is $450,000, according to Bob Rulli, director of planning. A closing date has not been scheduled but is expected to be completed by the end of the year. The town already has the money on hand and the site evaluation has been completed.

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Once it purchases the site, the town plans to restore a 1,000-square-foot, brick building on the site into an indoor public market, where entrepreneurs and startups from the Hope & Main incubator could sell products to the public. In addition, the town is interested in developing a two-story building on the footprint of the former National Grid building. This would create another 9,500 square feet.

The purchase was made possible through the participation of the U.S. Economic Development Administration, which provided technical assistance to the town at the request of the R.I. congressional delegation.

The site is within a federally designated Opportunity Zone, which would allow private investors to assist in redevelopment.

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.