Schochet and RHF finalize $36 million acquisition deal to preserve 265 affordable housing units in North Kingstown

Schochet Associates, Inc., owners and managers of nearly 4,000 apartments located throughout New England, today announced that it has completed the $18 million acquisition of 265 apartments located in North Kingstown, RI.

The developer of Newport's Brick Marketplace, who owns 100 acres off Route 116 here, is among a number of business-oriented leaders about to unveil their vision for the creation of two new villages in town.

Recent months have seen a second wind for the historic Brick Market Place, thanks to the ongoing renovation efforts of Schochet Associates, a development and property management company located in downtown Boston. Boasting over four acres of retail along America's Cup Ave., Brick Market Place has long been a treasured shopping destination in the city, and now sees a bright future as a centerpiece to the economic revitalization of the city's historic downtown area.