Southcoast Health has acquired approximately three acres of waterfront property in Fall River for a total of $6 million. The purchase, made through its affiliate Southcoast Ventures Inc., involves two adjacent parcels and is part of a plan to potentially develop a major healthcare facility in the area.
This strategic land acquisition positions the healthcare provider as an early investor in the redevelopment of the Davol Street corridor, a significant urban renewal project expected to transform the city's waterfront.
Key Takeaways
- Southcoast Health, through an affiliate, purchased two adjacent land parcels on the Fall River waterfront for a combined $6 million.
- The total area acquired is approximately three acres, located at 223 Remington Ave. and 1148 Davol St.
- The proposed development is a non-residential healthcare facility, aimed at establishing Fall River as a regional healthcare hub.
- This purchase is an early move in the broader redevelopment of the 22-acre Davol Street corridor, with major construction scheduled for completion in 2026.
Details of the $6 Million Transaction
The acquisition was completed in two separate transactions. On August 28, Southcoast Ventures Inc. purchased the property at 223 Remington Ave. for $925,000, according to public records from the Registry of Deeds.
A larger, adjacent parcel at 1148 Davol St. was acquired on September 9 for $5 million. Together, these properties create a contiguous three-acre site for development, situated just north of Commonwealth Landing and Barrett’s Waterfront Restaurant.
The land currently includes a three-family residential building and several old commercial repair garages. According to local officials, these existing structures will likely be demolished to clear the site for new construction and necessary parking facilities.
Who is Southcoast Ventures Inc.?
Southcoast Ventures Inc. is a nonprofit corporation that operates as an affiliate of Southcoast Health. Its primary function is to manage real estate activities, such as renting and acquiring office space and other properties, to support the broader mission of the healthcare system.
A Vision for a Regional Healthcare Hub
Local economic development officials have expressed strong support for the project. Ken Fiola, Executive Vice President of Bristol County Economic Development Consultants, described the proposed facility as a significant step for the city's economy.
“We’re excited about the proposed expansion of Southcoast Health along the waterfront,” Fiola stated, calling the development “a complementary use” for the ongoing Route 79-Davol Corridor project.
Fiola emphasized the importance of the healthcare sector to the local economy, noting it is the city's fastest-growing area for employment. He believes this expansion would help “solidify Fall River as the healthcare hub in the SouthCoast.”
In an official statement, Southcoast Health confirmed its interest in expanding its services in the region. Tom Rovine, the organization's Manager of Corporate Communications, said they are evaluating opportunities to meet patient needs.
“We are actively evaluating development opportunities that would best serve the healthcare needs of patients in greater Fall River and our southeastern Massachusetts and Rhode Island region,” Rovine said. He added that Southcoast Health was “excited to continue to play an integral role in the city’s economic prosperity.”
Part of a Larger Waterfront Transformation
The Route 79-Davol Corridor Project
This land purchase is an early component of a much larger initiative: the Route 79-Davol Improvement Project. This state-led construction project, set to conclude in early 2026, will free up 22 acres of prime real estate along the waterfront for mixed-use development.
The overall vision for the corridor includes a mix of residential and commercial spaces. Projections suggest the area could accommodate up to 1,500 new apartments alongside various commercial businesses, creating a vibrant new neighborhood designed to serve residents and attract tourism.
Waterfront Development by the Numbers
- 22 acres: Total developable land in the Davol Street corridor.
- 2 million sq. ft.: Estimated total square footage of new development.
- $2 million per acre: Estimated value of the land, suggesting billions in potential private investment.
- 12 years: Projected timeline for the staggered development phase.
Managing Future Development
A key question is who will control the sale and development of the remaining state-owned parcels. A legislative effort is underway to transfer stewardship of the land to the Fall River Redevelopment Authority (RDA).
State Representative Carole Fiola has petitioned a bill, H.4071, which would authorize the Massachusetts Department of Transportation (MassDOT) to convey the land to the RDA. This move is intended to ensure that revenues generated from land sales are reinvested directly into the city.
Ken Fiola stressed the importance of moving forward with a clear plan. “We don’t want that land sitting idle,” he commented, expressing hope that a final decision on land control will be made by the end of the year.
Next Steps for Southcoast Health
While Southcoast Health has confirmed the purchase and its general intentions, specific details about the new facility remain under wraps. The organization has indicated that plans are still in the evaluation phase.
“We look forward to sharing more details at a later date as they’re defined,” spokesperson Tom Rovine concluded in his statement. The organization thanked Mayor Paul Coogan and other local officials for their support of the initiative.
The development represents a significant private investment in Fall River's future, aligning with public efforts to revitalize the waterfront and strengthen the regional economy through the expansion of the vital healthcare sector.
