Richmond Advances Redevelopment Plans for Richmond Commons and Chariho Plaza

Town officials in Richmond are moving forward with redevelopment plans for two significant commercial properties that have remained underutilized for decades. GFI Partners has proposed a 246-acre mixed-use project for the Richmond Commons site, while the upcoming expiration of a Stop & Shop lease at Chariho Plaza is expected to clear the way for a unified redevelopment strategy. These projects represent a strategic shift toward modern mixed-use and community-focused commercial spaces, signaling a new phase of economic growth for the region.

Boston-based GFI Partners recently presented a master plan for the 246-acre Richmond Commons, a Planned Unit Development - Village Center (PUD-VC) located near the intersection of Route 138 and I-95. The proposal marks a significant departure from previous "big box" retail concepts, which town officials now deem economically unviable. Instead, the developer aims to create a mixed-use village featuring a combination of residential units, retail opportunities, and light industrial elements. The plan also incorporates indoor and outdoor recreational spaces, reflecting a broader effort to align new development with the town's Comprehensive Community Plan and its state-designated growth center.

Simultaneously, the town is preparing for the revitalization of Chariho Plaza at 1190 Main Street following a major leasing update. Stop & Shop, owned by Ahold Delhaize USA, announced it will not renew its lease on a portion of the shopping center when it expires on July 31. The plaza’s anchor space has been vacant for nearly two decades since the closure of Cycle Brothers Motor Sports. Previous attempts to renovate the property were stalled by a complex ownership structure where Stop & Shop controlled half of the parking lot while a separate entity owned the building, creating significant barriers to subletting or retrofitting the site.

Town Councilors Jim Palmisciano and Daniel Madnick emphasized that these developments are central to Richmond’s long-term economic strategy. By facilitating dialogue between property owners and community stakeholders, the town has identified specific needs for the area, including urgent care facilities and daycare centers. The decision by Stop & Shop to exit its lease is viewed as a positive step, as the company noted the property is better suited for redevelopment under a single, cohesive vision. These projects are expected to transform dormant land into multi-generational assets, balancing the town's rural character with modern commercial and industrial requirements.