Moody Investors Service raised East Providence’s credit rating to A1, due in large part to the benefit resulting from the remediation and redevelopment of the former Kettle Point oil terminal along the Providence River.
This property was previously utilized as a bulk petroleum storage and distribution terminal from the 1920’s until 1984. Historical site operations consisted of the storage and handling of millions of gallons of No. 2 and No. 6 fuel oils, kerosene, diesel fuel, and gasoline.
Remedial activities performed by SAGE to clean up the Site enabled future development of the 90,000-square foot, state-of-the-art surgical and orthopedic rehabilitation facility for University Orthopedics; AR Builders’ 200+ unit residential apartment complex; a 60+ unit residential townhouse development by Churchill & Banks; and open space, including a bike path, along the Providence River.
Watch the video: https://vimeo.com/499259036
To learn more about the redevelopment at Kettle Point, please contact Rick Mandile at [email protected].