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Developer Makes $1.3M Bid For Rhode Island Mill

By The Associated Press | Dec 30, 2015 | Reprints | Unlock Link | Print

A company that says it specializes in the redevelopment of historic structures has made a nearly $1.3 million bid for a two-century-old Rhode Island textile mill that’s been in receivership for years.

According to court documents, the receiver took the bid for the Hope Mill property in Coventry and Scituate from BMP LLC, which is registered in Portland, Maine. A Scituate town attorney says BMP LLC is associated with Massachusetts-based Paramount Development Group.

The Providence Journal reports that Hope Mill, built in 1806, sits on a 38-acre island, with the Pawtuxet River on one side and a manmade channel on the other. The mill is empty and dilapidated.

The property has been the subject of litigation for years, with control changing from state receivership to federal bankruptcy, then back.

Commercial & Industrial