Rockland Trust Finances Construction Of Retail, Medical Space In New Bedford

Wednesday, December 11, 2013, 11:41am

Rockland Trust has provided $5.8 million in financing to Coggeshall LLC and Riverside LLC for two construction projects at Riverside Landing in New Bedford.

Rockland Trust provided a $2.5 million construction loan to Riverside LLC for an 11,806-square-foot retail building at Riverside Landing, a 17-acre retail and mixed-use development. The retail space will house Great Clips Salon, Dr. Dental, Little Caesars, Verizon Wireless and Capriotti's Sandwich Shop.

The bank also provided $3.3 million in financing to Coggeshall LLC for St. Anne's Hospital's Urgent Care Center, which recently broke ground on the same site. The new 10,000-square-foot ambulatory care facility is scheduled to open in the fall of 2014. It will provide walk-in outpatient treatment for non-life-threatening illness or injuries when a patient's primary care physician is not available or emergency room care is not required.

The financing is funded through the bank's New Markets Tax Credit program, which promotes job creation and economic redevelopment in economically challenged communities throughout Massachusetts and Rhode Island.

The projects are a joint venture between Mark Dickinson of Quincy-based Dickinson Development Corp. and Mark White of Acushnet-based D.W. Construction Inc.

Riverside Landing is the site of the former Fairhaven Mills in New Bedford, which operated from the early 1900s into the 1980s, and was abandoned for nearly three decades. A Market Basket Supermarket and a Taco Bell that opened earlier this year are currently located at the site.

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Rockland Trust Finances Construction Of Retail, Medical Space In New Bedford