Real Estate Auction: Pawtucket, RI - Prime Residential Development Opportunity

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360,000+/- sf. Historic Brick Mill Complex on 6.4+/-ac. - k/a "The Union Wadding Lofts" - Conversion to 240+/- Residential Condos in Process

JJManning Auctioneers is proud to offer this historic brick building which was built in 1771 as a cotton wadding mill and includes wonderful period details such as high ceilings and hardwood floors. Phase I of the conversion, planned as 89 units comprised of (30) studios, (29) 1-bedroom, (27) 2-bedroom & (3) 3-bedroom units in 6 buildings is currently underway with completed areas featuring restored or replaced windows, refinished or replaced hardwood floors, and exposed brick walls and beams. Undeveloped portions of the site offer tremendous potential for a wide variety of possible uses including residential, retail, storage, business, parking, and more.

The complex, known as "The Union Wadding Lofts," is in a convenient location on Route 15 at the intersection of Goff St. & Pine Ave. off Mineral Spring Ave., close to Routes 1, 114, 122 & I-95. The property is on a bus route offering commuters quick access to Providence and less than 10 minutes drive from the S. Attleboro MBTA station. This growing neighborhood area includes two other successful residential mill conversions, a grocery and Walgreen's with easy access to Wilkinson Park, City Hall, Police/Fire, Blackstone Valley Tourist Center, Slater Mill Historic Site and the Blackstone River.

Property Tours: Please check JJManning website
Auction: Thursday, August 20th at 11am on-site

Tax Assessment: $3,929,100 (Land $990,200 & Improvements $2,938,900)
Zoning: CD - Downtown Commercial
Permitted uses include residential artist/studios, 3/4-family residences, community residence, retail stores, health club, movie theater, motor inn, business services, medical offices, school, parking garage, auto sales, ltd. light industrial and more.
Complex: Multiple 1, 2, 3 & 4-story brick & wood frame mill buildings
Parking: Around buildings & across Goff St. with potential for creation of enclosed parking through future conversion of the two 1-story buildings
Heat: Completed units with gas-fired forced hot air heat & central A/C
Available Utilities: City water & sewer, gas, electric, etc.

http://www.jjmanning.com/property.cfm?id=346

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JUSTIN MANNING
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