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Boston & New England  + New England  + Hospitality  | 

Washington Trust Finances Reconstruction of Block Island Landmark

The Washington Trust Company has provided $8.5 million in financing to VVO Real Estate Holding, LLC for the reconstruction of the Harborside Inn, a landmark hotel with retail space located at 41 Water St. in New Shoreham, RI. The building, directly across from the Block Island Ferry terminal, was destroyed in a fire in August 2023.

VVO Real Estate Holding is undertaking the redevelopment of the property, which will include a 33-key full-service hotel, a leased restaurant space and 10 leased retail spaces. Construction is being managed by The Haynes Group in West Bridgewater, MA, with May 2027 completion expected.

“The Harborside Inn has long been a significant part of Block Island’s waterfront and its history,” said David Kmetz, VP and team leader of commercial banking, Washington Trust. “I’ve worked with the owners since they purchased the property in 2002 and know how committed they have been to restoring it.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing