Providence – On behalf of The Armory Revival Company (TARC), CBRE/New England announced the significant recapitalization of Rising Sun Mills, a ±313,000 SF mixed-use complex with 135 residential units and ±130,000 SF of commercial space located at 166 Valley Street in Providence, RI.
On-site management by The Armory Management Company will oversee new construction commencing immediately with lobby renovations. Significant funds were also secured for anticipated tenant improvement projects, accounting for ±90,000 SF of available commercial space.
“It is very exciting that TARC has secured this financing and recapitalized Rising Sun Mills,” added CBRE/NE’s Galvin. “The rich brick and beam mill character of the building, combined with the residential lofts, café, river walk and bike path, make the property a true mixed-use development. With ±90,000 SF available, there is flexibility from 1,500–60,000 SF, allowing the project to meet the needs of most tenants in the Providence Office market.”
Located two miles from the heart of downtown Providence, Rising Sun Mills is easily accessible from Routes 6 and 10 as well as Interstate 95. The campus has 135 residential units and offers office tenants a parking ratio of 4.0/1,000 SF. The well-landscaped site features a waterfall, walking and bike paths along the Woonasquatucket River that also includes a fish ladder. In addition to the on-site Café at Easy Entertaining, there is an incredible selection of local and regional foods in Olneyville Square, Atwells Avenue and on Broadway.