News: Rhode Island

Innovative Newport nears completion: $8 million office space project

Newport, RI Construction of Innovate Newport, a 34,000 s/f, three-story office space located on Broadway, is nearing completion. Formerly the old Sheffield Elementary School, the building is being repurposed and transformed to provide high-tech office suites, co-work space, shared conference and huddle rooms, a café, and a large event space with the latest technology available.

The $8 million project will create newly developed office space producing opportunities for both new and established companies. Innovate Newport provides a high-quality collaborative environment and is targeted towards existing companies in the marine sciences and underwater technology sectors. The co-work space is available to entrepreneurs and start-ups in all industry sectors.

The Innovate Newport project is a partnership between the City of Newport, Newport County Chamber of Commerce, and the Economic Development Foundation of Rhode Island (EDFRI). EDFRI is the city’s preferred developer for the project. The project design team includes Northeast Collaborative Architects overseeing the overall project and exterior design, Studio TROIKA providing interior design services, and DiPrete Engineering providing parking and stormwater improvements, as well as landscape design. The project is being constructed by Pezzuco Construction.

The co-work and office spaces are located on the first and second floors with a complete build-out of the ground floor on hold for possible future development. Utility rooms, equipment, and a mailroom area for accepting deliveries are also on the ground floor along with the main entrance and wheelchair accessibility to a new elevator. 

“This has been a really exciting project to be a part of,” said Molly Titus, project manager at DiPrete Engineering. “The addition of a state-of-the-art office building will add to Newport’s growing technology sector.”

Innovate Newport is scheduled to open this month.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary