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October 1, 2007

Developer, Warwick to be new Rocky Point owners

WARWICK -- The court-appointed receiver for the former Rocky Point amusement park has signed a purchase and sale agreement with a Providence developer, it was announced today.

Rocky Point Partners LLC. has agreed to buy the approximately 83 acres while the City of Warwick will buy the other 41 acres, the U.S. Small Business Administration said in a news release.

Before today's announcement, the fate of the former park, well known to generations of Rhode Islanders, was approaching a deadline.

The park was such a fixture in the public's minds that it even became the subject of a recently-released documentary.

The purchase and sales agreement has been submitted to U.S. District Court, Rhode Island, for "review and disposition."

-- With reports from Journal staff writer Cynthia Needham

Posted by Mike McKinney  at 3:02 PM | Permalink

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