CENTRAL FALLSâ€”A century-old weaving mill that once depended on the Blackstone River to operate is now using the waterway as a scenic and recreational lure of potential tenants.
With the river gleaming brightly in the background, state and local officials on Monday gathered to break ground on 90 new residential units at M Residential on 521 Roosevelt Ave. This housing will join an already existing 70 units and represents the final stage in the second phase of a residential mill rehabilitation that spans a city block.
The M Residential project is being undertaken by the Tai-O Real Estate Group, whose primary owners are longtime local businessmen Louis Yip and Sunny Ng. Among those speaking at the groundbreaking were Congressmen Sheldon Whitehouse and David Cicilline, State Reps. Elizabeth â€śBettyâ€ť Crowley and James McLaughlin, Central Falls Mayor James Diossa, Cumberland Mayor Dan McKee, and Cranston Mayor and gubernatorial hopeful Alan Fung. Central Falls City Councilors Tia Ristaino-Siegel and Tammi Johnson were also in attendance.
Yip, who rarely makes public speeches, said he is often asked what the â€śMâ€ť in M Residential stands for. He said that while it means â€śmillâ€ť for the historical building it occupies, it can also symbolize â€śmoney,â€ť adding, â€śYes, it is also true we have put a lot of money into this development.â€ť
Read the full story in Tuesday's Times.