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Wexford Science & Technology / CV Properties enter purchase agreement for 195 parcels

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Wexford/CV proposal rendering. Eddy Street bottom, Ship Street left, Dorrance Street right. Click image to enlarge.

Baltimore-based Wexford Science and Technology and real estate developer CV Properties have signed a purchase and sale agreement for two parcels of land and plan to develop a three-phase project on the vacant former highway land with research and development space, offices, hotel and residential space and other attractions.


Phasing is not really allowed by the 195 regulations, one is not allowed to land-bank. Something like this can’t really be built any other way than in phases though, so I guess we’re just ignoring that for reality. Also, I better not see any ‘temporary’ surface lots anywhere between phases.


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I-195 Redevelopment District Commission Meeting – January 11, 2016

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Suite 101, Providence, Rhode Island, on MONDAY, JANUARY 11, 2016, beginning at 3 P.M., for the following purposes

195-roundPublic Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Presentation by HR&A Advisors, Inc. on their economic development report regarding the I-195 Lands.
  3. Approval of the Minutes of the Commission Meetings Held on December 14, 2015.
  4. Executive Director’s Report.
  5. Vote regarding adoption of the final rules and regulations for the I-195 Redevelopment Project Fund.
  6. Chairman’s Report/Agenda for February 15, 2016 meeting.
  7. Vote to Adjourn.
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Two 195 District projects advance

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Two renderings of Parcel 8 by Kite Architects

The 195 Commission made approvals on two projects at their meeting earlier this week. Providence Business News reports on Parcel 8:

The I-195 Redevelopment District Commission has approved the design plan for a mixed-use development that will occupy a one-third acre parcel in the Fox Point neighborhood.

The project, pursued by Royal Oaks Realty LLC, will occupy Parcel 8 in the former I-195 lands. The development will include the renovation of a historic building, part of the former Fuller Iron Works, as well as new construction of a seven-story building that will include apartments, office space and retail space.

The 195 Commission (in Executive Session) decided to enter a purchase and sale agreement with the much larger Wexford proposal on parcels 22 and 25, also reported by PBN:

The I-195 Redevelopment District Commission moved closer Monday to securing the sale of five acres of land for a biological sciences and mixed-use development.

In a vote taken in executive session, the commission agreed to authorize its executive director and chairman to execute a purchase and sale agreement for parcels 22 and 25, according to chairman Joseph F. Azrack.

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195 Redevelopment District Commission Meeting – December 14, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on MONDAY, December 14, 2014, beginning at 5 P.M., for the following purposes

195-roundPublic Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Approval of the Minutes of the Commission Public Session Meeting Held on November 16, 2015.
  3. Executive Director’s Report.
  4. Presentation by Robert Azar, City of Providence Department of Planning, regarding proposed Royal Oaks project on Parcel 8; vote regarding approval of project plan and design.
  5. Discussion and vote regarding the 2016 Commission meeting schedule.
  6. II. Executive Session

    To consider and act upon such matters as may be considered at a meeting closed to the public pursuant to Rhode Island General Laws, Section 42-46-5(a) (the Open Meetings Law), specifically matters permitted to be so considered under subsection (5) (disposition of public property).

  7. Review of Status of Proposals to Purchase and Develop District Property.
  8. Vote regarding authorization to execute purchase agreement for District Parcels 22 and 25.
  9. III. Public Session

  10. Chairman’s Report/Agenda for January 11, 2016 meeting.
  11. Vote to Adjourn.
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I-195 Redevelopment District Commission Meeting – November 16, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on MONDAY, November 16, 2015, beginning at 3 P.M., for the following purposes

195-roundPublic Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Approval of the Minutes of the Commission Public Session Meeting Held on October 19, 2015.
  3. Executive Director’s Report.
  4. Discussion on the Commission’s granting of Development Plan Review Approval Following Downtown Design Review Committee.
  5. Presentation on Development and Projects within the City of Providence by Bonnie Nickerson.
  6. Discussion on City Walk Study by Phoebe Blake of the Jewelry District Association and Dan Baudouin of The Providence Foundation.
  7. Chairman’s Report/Agenda for December 2015 Meeting.
  8. Vote to Adjourn.
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Downtown Design Review Committee Meeting – November 16, 2015

Downtown Design Review Committee
Monday, November 16, 2015 – 4:45pm
Department of Planning and Development, 1st Floor Conference Room 444 Westminster Street, Providence, RI 02903

drc-roundOpening Session

  • Call to Order
  • Roll Call
  • Approval of Meeting Minutes of September 21, 2015

New Business

1. DRC Application No. 15.19: 39 Pike Street (Eastside I-195 Overlay District) – Public Hearing – The subject of the hearing will be an application by Royal Oaks Realty, LLC requesting a development incentive in the form of a height bonus for the proposed mixed-use building to be constructed at 39 Pike Street, Providence, RI. The applicant is seeking one additional story above the maximum height allowed in the zone. The applicant is also requesting final approval. (The project received conceptual approval at the 9/21/15 DRC meeting)

PowerPoint Presentation

2. DRC Application No. 15.18: 342 Eddy Street – Review of exterior concrete color samples and request for final approval for the construction of a new National Grid Substation Switchgear and Control Building. (The project received conceptual approval and waivers at the 9/21/15 DRC meeting)

Other Business

3. Downtown Design Review Committee Rules and Regulations – Approval of amended DDRC Rules and Regulations.

Adjournment

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Downtown Design Review Committee Meeting – September 21, 2015

Downtown Design Review Committee
Monday, September 21, 2015 – 4:45pm
Department of Planning and Development, 1st Floor Conference Room 444 Westminster Street, Providence, RI 02903

drc-roundOpening Session

  • Call to Order
  • Roll Call
  • Approval of Meeting Minutes of June 15, 2015 and August 17, 2015

New Business

1. DRC Application No. 15.18: 342 Eddy Street (Public Hearing) – The subject of the hearing will be an application by The Narragansett Electric Company requesting waivers from D-1 Design Regulations for non-conforming new construction. The applicant is proposing to construct a new Substation Switchgear & Control Building at 342 Eddy Street, Providence, RI. The applicant is seeking waivers from the requirements for building height and fenestration.


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Proposed building for Parcel 8, image from Kite Architects.

2. DRC Application No. 15.19: 566 South Water Street and Parcel 8 (Eastside I-195 Overlay District) – Proposal by Royal Oaks Realty, LLC to construct a new mixed-use building on the property. The DRC will review the project and make a recommendation to the I-195 District Commission.

Adjournment

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195 Redevelopment District Commission Meeting – August 17, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on MONDAY, AUGUST 17, 2015, beginning at 5 P.M., for the following purposes

195-roundI. Public Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Approval of the Minutes of the Commission Public Session Meeting Held on June 15, 2015.
  3. Executive Director’s Report
  4. Presentation by Royal Oaks Realty, with Kite Architects, of their development project for Parcel 8.
  5. Discussion and Consent to Memorandum of Understanding with the City of Providence Planning Department.
  6. II. Executive Session

    To consider and act upon such matters as may be considered at a meeting closed to the public pursuant to Rhode Island General Laws, Section 42-46-5(a) (the Open Meetings Law), specifically matters permitted to be so considered under subsection (1) (personnel matters) and subsection (5) (disposition of public property).

  7. Discussion and Vote regarding engagement of a new Executive Director.
  8. Review of Status of Proposals to purchase and develop District property.
  9. III. Public Session

  10. Chairman’s Report/Agenda for September 21, 2015 meeting.
  11. Vote to Adjourn.

See Also:

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Downtown Design Review Committee Special Meeting – August 17, 2015

Downtown Design Review Committee Special Meeting
Monday, August 17, 2015 – 12noon
Department of Planning and Development, 1st Floor Conference Room 444 Westminster Street, Providence, RI 02903

drc-roundOpening Session

  • Call to Order
  • Roll Call

New Business

  • Memorandum of Understanding between the I-195 Redevelopment District Commission and the Downtown Design Review Committee with respect to design review.

Adjournment

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I-195 Redevelopment District Commission Meeting – June 15, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on Monday, June 15, 2015, beginning at 5pm, for the following purposes

195-roundI. Public Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Approval of the Minutes of the Commission Public Session Meeting Held on May 18, 2015.
  3. Executive Director’s Report.
  4. Discussion and Consent to Reschedule Date of December’s Commission meeting.
  5. Presentation by CV Properties and Wexford Science and Technology of their proposed mixed use development on Parcels 22 and 25.
  6. Discussion and approval of I-195 Tax Stabilization strategy.
  7. II. Executive Session

    To consider and act upon such matters as may be considered at a meeting closed to the public pursuant to Rhode Island General Laws, Section 42-46-5(a) (the Open Meetings Law), specifically matters permitted to be so considered under subsection (5) (acquisition and disposition of public property).

  8. Discussion Regarding Status of Proposals to Acquire and Develop District Property.
  9. III. Public Session

  10. Vote to Adjourn.
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ProJo: R.I. Senate Majority Leader Ruggerio wants state control of taxes on former Rt. 195 land, tax-stabilization deal

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Senate Majority Leader Dominick J. Ruggerio expects to submit legislation Thursday that would establish state control over the taxes to be paid on former Route 195 highway parcels in the capital city, creating a 20-year tax-stabilization agreement for private developers and removing the city’s control over what taxes would be paid.

Ruggerio led work in 2011 to create the I-195 Redevelopment District Commission, which now owns 26 acres of former highway land and seeks to develop the land in a way that stimulates the state’s economy. The land panel just last week extended the deadline for a private developer seeking to build on the land to get a tax-stabilization agreement with the city.

“The administration and the I-195 commission have repeatedly stated they cannot successfully encourage development without the City of Providence creating tax-stabilization standards. Unfortunately, the establishment of clear and predictable tax rates for the I-195 district have not come to fruition,” Ruggerio said in a statement. “We cannot afford to wait any longer. The development of I-195 is critical to Rhode Island’s economic recovery and this legislation will encourage investment, job creation and economic growth.”

I think the City has not been fast enough in moving on their part of getting the land developed. However, I think the administration and the City Council are waiting to hear from the State how we’ll be reimbursed for creating these incentives that theoretically are boosting the economy of the entire state, not just Providence.

Providence carries a heavy burden of hosting so many jobs and so much infrastructure that makes the very existance of this state possible, but doesn’t get very much back for its trouble.

Ruggerio said he last met with Elorza probably in February, but he hadn’t shared his legislation with Elorza before releasing it today.

Well that is just rude. If you’re representing my city, and you’re moving to take away my taxing authority, a phone call or a text, maybe a fax, is in order.

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WPRI: Major life-sciences complex proposed for 195 land

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Life-sciences complex proposed for Parcels 22 and 25. Image from Google Maps.

Two private developers – Wexford Science & Technology LLC and CV Properties LLC – submitted a proposal last week to the I-195 Redevelopment District Commission seeking approval for a million-square-foot-plus multi-use project on parcel 22 and parcel 25 of the vacant former highway land, WPRI.com confirmed Wednesday.

“It is a major life sciences complex that includes lab space, academic research space, a hotel with meeting space and residential and retail components,” Eric Cote, a spokesman for CV Properties, told WPRI.com.

“It is a very large proposed complex,” he said. “The size that it may ultimately be will depend on our discussions with the 195 Commission, so it could change, but it’s currently envisioned as a project in excess of 1 million square feet.


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I-195 Redevelopment District Commission Meeting – May 18, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on MONDAY, MAY 18, 2015, beginning at 5 P.M., for the following purposes

parcel-28-rendering-003

Parcel 28 preliminary rendering by The Architectural Team.

195-roundPublic Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. Review and approval of the Minutes of the Commission Public Session Meetings Held on April 6 and 27, 2015.
  3. Executive Director’s Report.
  4. Discussion and Affirmation of Appointment of Commission Officers.
  5. Vote to consent to the 2014 City of Providence Zoning Ordinance with conditions as presented by Commission Counsel.
  6. Review and Consideration of the Request by Phoenix Lincoln, Contract Purchaser of Parcel 28, to Extend Time Periods to Complete Due Diligence and Obtain Tax Stabilization Agreement and Vote.
  7. Review and Consideration of the Request by Commonwealth Ventures, developers of South Street Landing, on behalf of National Grid, to have a long term easement over the southern tip of Parcel 4, and Vote.
  8. Vote to Adjourn.
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Johnson & Wales University begins work on 195 parcel

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As reported in PBN and editorialized about in the ProJo, Johnson & Wales University has begun site work on their new academic building. This will be the first thing built on former Route 195 land.


Providence Business News: JWU begins site prep for $40M academic building downtown

Construction is expected to be completed by July 2016 and is expected to be the first development on the former Interstate-195 lands in Providence, which were made available following the relocation of the highway. The university purchased the site in 2012.

The project will place a 71,000-square-foot building at the corner of Friendship and Chestnut streets, and will house the university’s School of Engineering and Design, and College of Arts and Sciences biology program.


The Providence Journal: Editorial: Breaking new ground

This activity on the former highway land, coupled with nearby plans for a University of Rhode Island/Rhode Island College nursing education center and administrative space for Brown University in the former South Street Power Station, provides a ray of hope for a city and state that are looking to turn around the local economy and give college graduates and young professionals a reason to stay here. Add a new AAA ballpark, if feasible, and that neighborhood would be an extraordinary economic force.

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I-195 Redevelopment District Commission Meeting – April 27, 2015

A meeting of the I-195 Redevelopment District Commission will be held at Rhode Island Commerce Corporation, 315 Iron Horse Way, Providence, Rhode Island, on Monday, April 27, 2015, beginning at 4pm, for the following purposes
The 195 Commission was scheduled to discuss the PawSox stadium proposal with the team’s ownership in closed door, “Executive Session,” at this meeting. That discussion is now open to the public according to The Providence Journal.

195-roundI. Public Session

  1. Welcoming Remarks by Chairperson Joseph Azrack.
  2. II. Executive Session

    To consider and act upon such matters as may be considered at a meeting closed to the public pursuant to Rhode Island General Laws, Section 42-46-5(a) (the Open Meetings Law), specifically matters permitted to be so considered under subsection (5) (acquisition and disposition of public property).

  3. Presentation Regarding Acquisition and Development of District Property.
  4. III. Public Session

  5. Vote to Adjourn.
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PawSox Baseball Stadium News

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Proposed site of PawSox stadium. Image from Google Maps

PBN reports on PawSox President James J. Skeffington’s tour of the riverfront land in the Jewelry District he proposes to build a new home for the PawSox on:

In a tour of the site, overlooking College Hill and the Providence skyline, attorney James J. Skeffington said consultants had determined the seven-acre proposed site will support the baseball park that team owners want to build.

In addition, he said, team owners have reached an agreement to use the parking garage planned for the South Street Landing project, now under construction on an adjacent site. Under the plan, the parking garage will be enlarged to 750 spaces, to accommodate the baseball traffic, he said, and the PawSox owners will contribute financially to its construction.

The parking garage at South Street Landing has sought relief from City Zoning requiring ground floor retail uses in parking structures. With the increased size of the structure and the increased diversity of visitors (they won’t mostly be Nursing School students presumably) there should be no reason for the garage developers not to conform to City zoning regulations.

ProJo also has a report:

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