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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