Bristol Marine seeks to add jobs with property purchase

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Andrew Tyska of Bristol Marine Holdings LLC submitted a bid to acquire a 14-acre, 490,000-square-foot manufacturing facility in Warren, R.I.

Tyska, who also is president of the Rhode Island Marine Trades Association, is seeking to acquire the facility, which was built for the Warren Manufacturing Co. in 1874 and later was owned by the American Tourister luggage company.

During the last several years the property has been the subject of many discussions, according to the association. There is a master plan approval from the town of Warren for the redevelopment of the property into a mixed-use residential commercial development with as many as 316 residential units. By order of the Rhode Island Superior Court, the receiver is offering the entire property for immediate sale.

Tyska says the plans for the property are simple: “jobs.”

“Our plan is to support small businesses, preserve existing jobs and attract new, exciting employment opportunities and work force training facilities to the Warren waterfront,” Tyska said in a statement. “We will invest in the existing facility through much-needed repair and improvements.”

“There are two factors critical to the needs of small businesses which we focus on,” Bristol Marine Holdings vice president Nick King said in a statement. “First is available space. We will work with existing tenants at the facility, making sure their occupied space is suitable for their operations, and preserve their contribution to the economy. We will make additional space available to new businesses and partner with them to customize their space specific for their needs.”

“Second is navigating the permitting process,” King said. “Our understanding is that the town of Warren has prioritized jobs and economic development. We are looking forward in partnering with the community to ensure the working waterfront supports the many fine restaurants and shops around town. It is exciting to imagine the possibilities.”

In addition to its operations as a full-service marine facility, Bristol Marine has made significant investments in contaminated, blighted and neglected parcels of property in Bristol, according to the company. Successful environmental remediation, development and re-use projects have led to the support of more than 35 businesses and the creation of nearly 300 jobs.

Tyska and King say they will preserve and create 400 jobs in the town of Warren.

“We will leverage our relationships with businesses in the marine industry and educational institutions. We have a vision for expansion of our concept of ‘Education Imbedded in Industry’, providing training for the skills needed by today’s work force alongside successful businesses,” Tyska said in a statement. “We are excited to integrate this marquee property into Warren’s vision of a sustainable working waterfront.”

Comments

One comment on “Bristol Marine seeks to add jobs with property purchase

  1. Vincnet Schimmenti

    Good to see you are investing in the marine Industry,,, We are a commercial Mortgage Brokerage that has relationships with lenders who would fund this type of venture.Also I have been a Yacht Broker for 20 Years and know the boat industry very well which gives me the Knowledge of the boat business to be able to fund such a deal.

    City Commercial Mortgage .com

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