(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)
CRANSTON, RI-A former school for troubled boys will be transformed into a mixed-use development next fall when work is completed on an $80-million, 407,000-sf project designed to bring retail, office and residential uses to a 30-acre site in Cranston.
Designed by Cubellis Associates Inc. of Boston, and developed by Carpionato Properties Inc. of Johnston, RI, the project, called Chapel View, will transform the former Sockanosset Boys School into a seven-building complex of restaurants, boutiques and retail stores; office space; and 50 condominiums. Some units will views of the Providence skyline and Narragansett Bay.
Located on Routes 2 and 27 and just a short distance from Interstate 95, the complex will feature, nine restaurants, including Ted's Montana Grill, Pei Wei Asian Diner and Johnny Rockets, along with retailers Omaha Steaks, REI and home furnishing store Bombay, Carpionato senior vice president Kelly Coates tells GlobeSt.com. Several smaller boutique retailers will also be part of the mix. A portion of the old school, which was closed in the 1990s, including three stone dormitories and a granite chapel from the late 1800s, will be incorporated into Chapel View as restaurants, office space or residential units, he notes. Coates says he expects the office and retail space to be fully leased by the time the complex opens in the fall of 2007. A Shaw's supermarket is already open on the site.
The 50 condominium units, which will range in size from 700 to 3,000 sf and cost between $300,000 to $1.5 million, will be marketed to empty nesters already living in the area and looking to downsize yet want to be close to area amenities, Coates says. Those units, he says, are expected to be sold out within six or seven months. The entire complex will be linked to an existing shopping complex known as Garden City Center and also connect to a 315,000-sf office complex located adjacent to the property.
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