We're pleased to share that the Town of Middletown, Rhode Island has publicly announced our joint plan to develop the unused land on West Main Road and Coddington Highway. We've entered into a 99-year lease which will allow us to revitalize 15 acres of land together with Kempenaar Real Estate and First Bristol Corporation. The town has shared on their Facebook page that our partnership will garner approximately $1M per year in taxes which will be used towards public service, roadwork, education and more.

This project has been in the works for years, and we can't wait to dive into all the exciting details with you! Read on for a breakdown of key development plan features and the benefits they will bring to the town.

Those familiar with the Newport County market know that demand for housing is at an all-time high, and supply is low. It's unsurprisingly a strong seller's market, and according to Zillow, the average home value in Middletown, RI is $706,025, up 5.0% over the past year. Newport's average home value is even higher at $837,990! As a small effort to meet incredible housing demands and appeal to the many families and young professionals in the area, we will build and lease 150 new apartment homes, with designated affordable options available. The mixed-use development will also include a hotel, office and retail spaces for rent which will contribute to those tax dollar earnings for the town. Perhaps most importantly, quality of life will be improved with a new dog park, picnic areas and vibrant landscaping.

Interested in learning more about this opportunity? Development planning is still underway, so be on the lookout for future updates to our Current Offerings page.

As always, we'd love to hear what you think! Connect with LREG Investments on LinkedIn today.

Landings Real Estate Group - Equal Housing Opportunity