EAST PROVIDENCE — Work has begun dismantling the storage tank yard at the site of the former Getty Fuel terminal in city with an eye towards likely enhancing its sale attractiveness.
The landmark parcel, which has been dormant for some time now, was most recently listed at a sale price of $2,795,000 or $379,755.43 per acre. The total lot size available is 7.36 acres. It is zoned commercial/retail. The parcel was first put on the market last fall under a sealed bid process with no apparent takers.
The location, 230 Massasoit Ave., includes 1,000 feet of frontage space on the busy throughway as well as 400 feet in the rear on Dexter Road. The property is situated in the East Providence Waterfont zoning district, which according to its real estate listing “offers many incentives for redevelopment.”
The land sits at the ramps for the Henderson Bridge, which provides access to the East Side of Providence, as well as the new Waterfront Drive. The listing claims there is a population of 211,000 within three miles of this property and 50,000 households. It has access to electricity/power, water, telephone, cable and gas/propane. Twelve storage tanks need to be razed. There are also five brick buildings on the property.
Getty announced it would begin offering to sell 47 properties located in Connecticut, Illinois, Maine, Massachusetts, New York, North Carolina, Pennsylvania and Rhode Island late last year. The sales were part of a reorganization as the Getty Petroleum Corp., as well as its subsidiaries, emerged from a bankruptcy reorganization started in late 2011.
Said City Planning Director Jeanne Boyle on the site activity, “At this point I do not know what the future use of the site will be after demolition. I presume Getty will be marketing it for development after the demolition is complete.”
— Photos by Richard W. Dionne Jr.
