$100 million committed to redevelop Benny’s properties

By: News Staff

Email: news@abc6.com

Twitter: @ABC6

PROVIDENCE, R.I. (WLNE) — A press conference was held at the Rhode Island State House Thursday morning to discuss what will be done with the Benny’s properties across New England.

The plan is to put a mix of retailers and restaurants at the 29 properties that the Carpionato Group is purchasing.

For Rhode Island, the company says this will mean more than 1,000 permanent jobs.

There are 14 Benny’s locations in the Ocean State, 11 in Massachusetts, and four in Connecticut.

The Carpionato Group is committing more than $100 million to redevelop the 29 properties. However, that investment does not include the price to purchase the properties.

ABC6 News was told the first focus will be on the 14 Rhode Island locations. The hope is to have those properties leased and operating by next Christmas.

In addition to the permanent jobs, there will be hundreds of construction jobs created.

“We take the obligation heavily and believe we can produce vibrant performing retail sites for all of these 14 cities and towns in Rhode Island and the cities and towns in Connecticut, and Massachusetts,” said Senior VP of Carpionato Group, Kelly Coates.

“This is a good example of the direction the state is moving in. It’s been a long time since I’ve seen this kind of aggressive development going on,” said RI House Speaker Nick Mattiello.

"This is a very positive step for Rhode Island, these properties will ultimately remain on the tax rolls," said Senate President Dominick Ruggerio.

The goal is to have the Rhode Island locations up and running by next Christmas.

Also of note, the company is not asking for any tax breaks or state aid. They are not releasing how much they will spend to purchase the properties.

©WLNE-TV / ABC6 2017