A historic four-unit multifamily property at 35 Kay St. in Newport sold for $3 million, the city’s highest multifamily sale of 2026 to that point. The 4,300-square-foot, 1880-built residence sits on 0.54 acres in the Kay Street neighborhood and includes five bedrooms, five bathrooms, original architectural details, a garage and off-street parking. The property was assessed at $1.5 million for fiscal 2025, and Alexandra Thursby of Mott & Chace Sotheby’s International Realty represented both sides of the transaction.

A waterfront single-family home at 585 Seaside Drive in Jamestown Shores sold for $2.6 million, ranking among the eight highest residential sales in Jamestown this year. The 2,760-square-foot, three-bedroom custom ranch sits on a 0.62-acre waterfront lot overlooking West Bay and includes multiple garages, a deck and possible mooring opportunities. The property was assessed at $1.8 million for fiscal 2025. Residential Properties Ltd. represented the sellers, Dominic and McKenzie Montazemi, while Stay Newport Real Estate represented buyers Ratan Hoan and Tithdaranet Lim.

A newly constructed 17,500-square-foot industrial building at 109 Western Industrial Drive in Cranston, Rhode Island, sold for $3.1 million. Located on approximately 1.28 acres in the Western Industrial Complex, the warm-shell facility includes 30-foot ceilings, four overhead doors and substantial three-phase electrical capacity, and is zoned for warehouse, distribution, contracting and manufacturing uses. 109 Western Industrial Realty LLC sold the property to Western Industrial Hoffco LLC, while Sweeney Real Estate & Appraisal represented the seller.

Real estate adviser Jonathan Kaufman says Providence has seen increased multifamily inventory as investors await greater clarity on rent stabilization. He argues that local investors with detailed knowledge of Providence are finding opportunities amid reduced competition. Kaufman discusses his transition from restaurant-business ownership to real estate, advises new investors to build strong local teams and identify undervalued properties, and highlights his role in bringing The Nitro Bar to 134 Ives St. in Fox Point. He expects technology, online content and creative property marketing to reshape the profession, rewarding agents who adapt to higher buyer and seller expectations.

The average U.S. 30-year fixed mortgage rate rose to 6.58% from 6.55% the previous week, its highest level in nearly a year, while the 15-year rate increased to 5.96%. Higher borrowing costs are reducing homebuyers’ purchasing power and contributing to sluggish home sales. Rising oil prices linked to escalating conflict in Iran have fueled inflation expectations and pushed up long-term bond yields, including the 10-year Treasury yield, which rose to 4.7%. Although mortgage rates remain below their level a year earlier, their recent upward trend could continue to pressure housing demand and influence Federal Reserve policy.

The Woonsocket Education Center received a $50,000 Citizens Bank Champions in Action grant to launch an AI Readiness Training Program for Rhode Island nonprofits. The initiative will help organizations use artificial intelligence for fundraising, grant writing, communications, administrative work and data analysis, serving two cohorts totaling 40 nonprofits. Rhode Island College and the Rhode Island Office of the Postsecondary Commissioner will partner in delivering the program, while WJAR-TV NBC 10 will provide promotional support and Citizens employees will volunteer. The grant is part of Citizens' broader program, which has distributed more than $13 million to over 420 nonprofits since its launch.

Rhode Island Hospital, Newport Hospital, The Miriam Hospital and Saint Anne’s Hospital, all part of Brown University Health, received gold-tier American Heart Association Get With The Guidelines–Stroke awards after meeting at least 85% of seven performance measures over 24 months. The hospitals also made the Target: Type 2 Diabetes Honor Roll by achieving at least 90% compliance with required measures for 12 months, and all earned placement on the Target: Stroke honor roll. The recognitions reflect performance in timely treatment, medication management, discharge planning and smoking-cessation counseling.

Viola Davis and Julius Tennon’s Davis-Tennon Foundation is donating $1.2 million to create the Mary Alice Davis Family Engagement Center at 325 Illinois Ave. in Central Falls. Named for Davis’ mother, the hub will house the foundation’s headquarters and provide food assistance, family resources, workforce development, financial literacy programs, educational workshops and community events. The foundation plans to collaborate with Rhode Island nonprofits, building on its existing work addressing food insecurity, housing stability, education, youth development, domestic violence prevention and community wellness.

Stonewall Studios, a national architecture practice based in Lafayette, Louisiana, acquired Cranston-based Saccoccio & Associates Architects. Financial terms were not disclosed. Founded in 1973, Saccoccio provides architecture, planning, restoration, interior design and sustainable design services across Rhode Island and southern New England. Principals Mark Saccoccio and Steve Guglielmo said the partnership will create new opportunities and expand client services, while Stonewall co-founder Ben Moody said the firm’s reputation, regional relationships and project portfolio made it a strong fit. Stonewall has 12 locations and more than 180 employees.

Rhode Island Energy has proposed higher Last Resort Service electricity rates for residential, commercial and industrial customers for the coming winter, citing increased New England wholesale market, natural gas, grid-reliability and renewable compliance costs. The residential rate would rise to 17.03 cents per kilowatt-hour, while commercial and industrial rates would also increase, subject to Public Utilities Commission approval. Gov. Daniel J. McKee responded by declaring an emergency and seeking $28 million from Regional Greenhouse Gas Initiative reserve funds to provide roughly $61 in credits to each of the state’s more than 450,000 residential electric customers.