Newport officials approved up to $100 million in industrial revenue bonds, also known as IRBs, on Monday to help finance the 342-unit housing development at the long-vacant former steel mill site along Route 9. The IRB will help developer PLK Communities in financing acquisition, construction, installation and improvements for the project at 910 Lowell St. […]
Tag: PLK Communities
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Newport approves expanded 342-unit development at former steel mill site
A long-idle former industrial site in Newport is set to become a new housing development with 342 townhomes and apartments. Last March, developer PLK Communities proposed 195 townhome-style apartments; now, the developer has increased that number to 342 units at the city’s request for higher density. The location is about 17.23 acres along Route 9 […]
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Newport approves key bond for $90M housing project on old steel mill site
The $90 million townhome-style rental development planned for Route 9 in Newport is one step closer to becoming a reality. The Newport Commission passed the request for an Industrial Revenue Bond, also known as an IRB, 4-1, with Newport Commissioner Ken Rechtin voting no at a meeting on April 7. The site along Route 9 […]
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$80M development proposed for Newport’s vacant steel mill site
Newport’s old steel mill site, which has been vacant for roughly 25 years, could be the location of an $80 million development. Developer PLK Communities is proposing 195 apartments, a commercial pickleball facility, funding for tree planting, and collaboration with the city on a bike and pedestrian safety study. The site is 17.23 acres, located […]
