Lippitt Mill LLC is proposing a $15.2 million redevelopment of the historic Lippitt Mill in West Warwick. The historic mill is one of the oldest in the State of Rhode Island, and one of the few timberframe mill buildings still standing. The 62,375-square-foot project, which includes the wooden mill building and various other interconnected buildings, will create 65 residential units, of which 28 (43%) will be deed restricted as affordable housing for families earning 60% of Area Median Income (AMI) or less. The project will provide high-quality affordable housing, help revitalize the surrounding West Warwick neighborhood, return a dilapidated historic mill to productive use, and remediate existing environmental contamination on the site.
The Sponsor has requested up to a maximum of $2,103,501 in Rebuild Rhode Island Tax Credits, which will be issued over 5 years.
The project is being developed by Prominen Management Group. The project lead, Kristopher Shaw, has 15 years of construction and project management experience.
Economic Impact Analysis