Four restaurants, new retail store proposed at Quonset Gateway

NORTH KINGSTOWN — A development agreementhas been approved by the Quonset Development Corporation’s Board ofDirectors for four restaurants and a retail store on 6.9 acres in theQuonset Gateway shopping center, adjacent to the Marriott TownePlaceSuites hotel.

As part of theagreement, NK Hospitality Sites LLC will pay a $65,000 development feeand lease the land for 25 years at $15,000 per acre for each of thefirst five years – with a 10 percent increase in rent every five years.The deal was approved last week.

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