MIDDLETOWN, R.I. — The Rhode Island town of Middletown has officially purchased the site of a former Navy Lodge.
The Newport Daily News reports town leaders met with Navy officials Tuesday to complete the $1.3 million deal. The 3.25-acre site had been declared surplus property by the Navy and was made available for purchase in 2008.
Officials have discussed redeveloping the site along with another larger parcel of land into a mixed residential-commercial development. Council President Robert Sylvia says the site will help the town with taxes.
Town tax assessor George Durgin says the lodge property is worth about $1.23 million.
Sylvia says town officials will take suggestions from residents and the business community before moving forward with any kind of development.
Information from: The Newport Daily News.