News: Rhode Island

Quonset is a good neighbor: Jobs, open space and millions in tax relief - by Steven J. King

Steven J. King

Quonset Business Park is New England’s premier business park, one of the largest in the Northeast and recognized as being among the top 10 in the nation. Home to 239 companies, over 14,000 people work at Quonset in a variety of industries earning $1.7 billion in annual household income for Rhode Island families. Managed by the Quonset Development Corp. (QDC), the business park stretches across more than 3,200 acres in North Kingstown, and is committed to being a good neighbor.

That commitment begins with the financial benefits Quonset provides the host community of North Kingstown. Last month, the town approved a $136 million annual budget - approximately $10 million of which came from Quonset via taxes and payments in lieu of taxes (PILOT). Quonset also hosts a town fire station and the town DPW garage while the administrative offices for town schools are in the Gateway Office complex. Meanwhile, the town’s transfer station is on property formerly controlled by Quonset, and the park’s water system provides the town with a backup supply, if necessary.

Many North Kingstown residents join their fellow Rhode Islanders in enjoying the amenities at Quonset. Hundreds of acres at Quonset are dedicated to recreation, preserving our rich history and protected open space. Four public beaches with free parking allow town residents to experience the beauty of Narragansett Bay – Blue Beach, Compass Rose Beach, Spink’s Neck Beach and Calf Pasture Point each offering a unique natural habitat and stunning views of Narragansett Bay.

Quonset also hosts the town-owned and operated North Kingstown Golf Course, one of the best 18-hole public courses in the state. The business park offers two connected bike paths: the 2.3-mile-long Quonset bike path and the 1.25-mile-long North Kingstown bike path. These paths take riders from Post Rd. all the way to the serene Calf Pasture Point nature area. Several years ago, the QDC donated four public multi-use athletic fields on 22 acres to the town for use by North Kingstown’s youth leagues.

The Seabee Museum and Memorial Park features Quonset’s history as a formal naval base and home of the Fighting Seabees.

In addition to offering public recreation areas, Quonset goes to great lengths to mitigate impacts on the surrounding community. We enforce measures (no trucks, no lights, no noise, no emissions) for entire sections of the business park to provide a buffer between the surrounding neighborhoods. Quonset has also planted hundreds of trees and shrubs on top of a 10-ft. earthen berm to create additional buffering and green space for our next-door neighbors.

Quonset is the region’s leading engine for economic development and job growth, but we remain committed to being a valued member of the community and a good neighbor in North Kingstown.

Steven J. King, PE, is the managing director of the Quonset Development Corp., North Kingstown, R.I.

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