PRESS RELEASE JULY 2024
Starr Capital LLC is pleased to announce the acquisition of 127 acres in Coventry, Rhode Island for a 900 unit residential project located in the Centre of New England, a large mixed use development project that has been in state court receivership bankruptcy since 2013. Starr Capital has executed definitive agreements with the Receivership to support the construction of several key roadway and other infrastructure improvements, and for comprehensive land planning. Conceptual Plan approval is pending for the first phase consisting of 362 duplex townhomes and 350 multifamily units. There is a chronic shortage of residential development sites in Rhode Island.
Located between two interchanges on Interstate 95 just 15 minutes south of the Rhode Island TF Green International Airport, the properties are well located for single-family, multifamily and retail development. The property surrounds an 80-acre ecological preserve that will be maintained and improved for the benefit of the community. The Centre of New England includes numerous existing retail developments including Walmart, BJ's, Home Depot, hotels, restaurants and several residential communities. The project team is being led by DiPrete Engineering and Darrow Everett
