A historic mill, once on the verge of demolition, is saved. Warwick's Elizabeth Mill won't be empty much longer. Developers have purchased the property and surrounding land parcels, and plan to redevelop much of it into multi-use spaces.
The property is divided into five parcels. There are already big plans in place for the mill with thousands of square feet cleared for re–development. Some ideas being talked about include hotel, loft apartments, retail or offices.
"So it could easily accommodate a boutique hotel of 75 to 80 rooms plus 75 to 80 loft apartments," said Michael Integlia, the developer.
Integlia and his team will spend the spend the next 6 months to a year finalizing that plan, then construction can begin.
The mill's location, on Jefferson Boulevard, across from TF Green airport and the Inter-Link makes it a key player in the city and state's plan to turn the area into a "business innovation district", or gateway city. 3,000 new jobs would be created in the process.
"We think that this is going to spur the development that we've been looking forward to for the last decade," said Mayor Scott Avedisian.
But in order to get to that point more funding is needed. The governor pledging to fight for historic tax credits on old mill.
"We're working hard on this upcoming budget to get them back. We did a little bit in the last budget, and now we're going to see them accelerate," said Gov. Lincoln Chafee.
The state is also investing $1.1 million, part of a federal highway grant, to revamp the infrastructure and streetscape in an attempt to attract more people and businesses to the area.