Warwick, RI Washington Trust’s Commercial Real Estate Group provided $23.626 million in financing to Union Mill, LLC, for the mixed-use redevelopment of Pontiac Mills.
Originally constructed in 1863, Pontiac Mills is a 368,472 s/f former textile mill comprised of 24 buildings across a 15-acre site. The redevelopment of the property will convert the buildings into 130 loft-style residential units and 46,009 s/f of commercial space. The apartments will include 11 studio, 109 one-bedroom and 10 two-bedroom units.
“Union Mill, LLC has brought the long anticipated redevelopment of Pontiac Mill to fruition, and Washington Trust is pleased to be a part of this exciting project,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s commercial real estate group.