Alfred Carpionato

Inducted: 2017
Alfred Carpionato started his life in humble circum- stances working for his fathers single family residential con- struction business when he was merely a teenager. As a very young man, he had traveled to Boston, Florida, and California where he gained invaluable expe- rience working with the top developers of that era. Taking everything he learned in the field, Carpionato took a promi- nent position in the family business. At just fifteen-years-old Carpionato bought his first building in the Smith Hill neigh- borhood of Providence, renovat- ing the units into apartments and transitioning the family business into a commercial real estate firm. By the age of twenty- one Carpionato became a self- made millionaire. Carpionato is a natural-born businessman with astute vision to see potential when others can- not. Combined with a natural gift with numbers and financial savvy, he has grown his company into a premier one-stop service provider which includes leasing, acquisitions, brokerage, tenant representation, and property management, together with con- struction and marketing divi- sions. Cultivating a team of excel- lence, Carpionato has established a brand unlike any other, insti- tuting a new benchmark in property development. His port- folio currently exceeds several million square feet of hotels, office parks, shopping centers, lifestyle centers, luxury apart- ments and condominiums, restaurants, and several thousand units of affordable housing throughout New England. With two million square feet currently under construction or on the drawing board, the breadth of his company knows no bounds. Carpionato takes pride in his home state of Rhode Island. Positioning his headquarters here and employing over 1,000 workers, he has provided steady growth and security for their families for the past 50 years. A devout Christian, Carpionato is equally distinguished as a phi- lanthropist gifting generously to charity, both locally and abroad. He has made considerable dona- tions to help build a school in Haiti for impoverished children. Fred is constantly trying to help those who are less fortunate and living in insufferable circum- stances. True to his roots, Carpionato has strategically revamped the Rhode Island and southern Massachusetts landscape adding tremendous value to each city and town where he develops. Although most of his properties are built from the ground up, Carpionato does not shy away from perseveration. In 1996 he purchased the 100+ year-old, badly neglected Anglesea Mansion, located adjacent to the Breakers in the historic district of Newport along the Cliff Walk. After a decade of careful restora- tion, while donating lavishly towards the rehabilitation of the Cliff Walk, Fred has made Anglesea a focal point for Newport tourism. Similarly, Carpionato transformed the once-destitute remains of the Sockanosset Training School in Cranston into a vibrant lifestyle community becoming a signa- ture property that has been high- ly praised by several reputable publications including the New York Times. Carpionato resides in Cranston, his hometown of 50 years, with his longtime signifi- cant other, Sheryl Costantino. He has two sons, Domenic and Louis. A civic-minded leader in his community, he has served on the board of Rhode Island Hospital and was a member of the Rhode Island Commodores. A “maverick” developer with a keen eye for value, Carpionato continues to lead his company to achieve excellence as one of the largest independently-owned and operated property develop- ment companies in the Northeast.
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