Complex Financing

FALL RIVER – Developers ceremonially broke ground Wednesday on a $55 million shopping center on the site of the former Quaker Manufacturing plant on Brayton Avenue in Fall River.

Developers First Bristol Corp. and Marshall Properties Inc. said the region’s first Walmart supercenter would anchor the complex also expected to include shops, a restaurant and a gas station.

The developers have coined the 330,000-square-foot complex Crossroads at 24 because it is located near the intersection of Route 24 and Interstate 195.

“We clearly recognized the importance of this location as one of the most dynamic retail locations in the South Coast, at the intersection of two major regional highways,” First Bristol Corp. President James Karam said. “We’re eager to get to work and deliver a destination center that creates jobs, adds value and becomes a true focal point for the city of Fall River.”

First Bristol and Marshall said they expect the project to create 200 construction jobs and, once open, 600 full and part-time jobs.

Construction is set to begin Aug. 1 and the first tenant scheduled to open its doors at the end of next year. Crossroads is expected to generate approximately $7 million annually in sales tax for the state as well as more than $600,000 in annual property taxes to Fall River.

“We are looking forward to the economic vitality that this project will bring the city,” Mayor William A. Flanagan said. “This is a boon for the community and proof that the public and private sector can work together for the benefit of its residents.”

The developers said they also expect to undertake more than $2 million in improvements to nearby roadways and sidewalks.

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