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PawSox Propose Private-Public Funded $83 Million Ballpark at Apex Site

Rendering of The Ballpark at Slater Mill from the PawSox

The Pawtucket Red Sox yesterday released plans to build an $83 million ballpark at the Apex site along Route 95 in Pawtucket. The plan envisions funding for the ballpark coming from the team, the State, and the City of Pawtucket.

The Pawtucket Red Sox and the City of Pawtucket, with substantial advice and direction from the leaders of the Rhode Island Commerce Corporation, have reached agreement on a proposal that would keep the team in Pawtucket until at least 2050 with a 30-year lease extension if a plan for a ballpark that is designed to revitalize downtown and the riverfront is approved by the Governor and the State Legislature. The plan is today being presented to the Governor, the Speaker of the House, and the President of the Senate for further review and consideration.

The PawSox would pay $45 million, the largest private investment in the history of Pawtucket, according to city officials. The ballpark is estimated to cost $73 million; thus, the club would pay 61.6% of ballpark construction costs. In addition, the minority investment by the State of Rhode Island would be paid back by revenues that are generated by the ballpark and the ballclub, enabling the project to proceed with no new taxes or increases in tax rates. The project will effectively pay for itself from the revenue that it generates. Taxpayers also will be protected by the PawSox, who will take on all ballpark construction cost overruns.

A “Ballpark at Slater Mill” will be part of a larger downtown re-development project. Together, the ballpark and land are expected to cost $83 million; thus, the PawSox would pay about 54% of the entire ballpark and land cost. Even so, the public would own the ballpark and the land, continuing the city’s 75-year practice of providing a public facility. In turn, the PawSox would then pay the highest rent in the International League, increasing their rent in 2020 to $1 million, with annual increases, and devote $500,000 annually from naming rights to help finance the ballpark.

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News & Notes – PawSox Edition

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PawSox dugout at McCoy Stadium. Photo (cc) Eric Kilby

WPRI: Lucchino responds to skepticism over proposed Providence ballpark

Lucchino, one of the team’s new owners, said the project is a clear economic engine for the local economy, and not just through baseball.

“We have to build a ballpark that has multiple uses, that can attract football and could attract concerts, that can have some art events at the thing,” he said. “Make it an major civic center for Providence.”

[…]

Lucchino believes the new park will not only boost the economy, but also revitalize downtown Providence. He hopes to bring a million people to the capital city by generating small businesses and jobs.


PBN: Pawsox greeted by skeptical I-195 commission and audience

Owners of the Pawtucket Red Sox presented a detailed plan for moving the AAA team to downtown Providence Monday, earning a skeptical if not critical reception from the commission that controls the site the team wants for its new ballpark.

In questions posed during the meeting of the Interstate 195 Redevelopment District Commission, commissioners questioned both the public cost and the tax benefits of the proposed development, and whether the state could find a more effective use for the site to attract highly desirable high-tech or life sciences development to the I-195 lands.

The question of other uses seems odd, so far as I know we still haven’t found a way out of the federal requirement for park land at this location.


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PawSox Providence Stadium Proposal

Updating…

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ProJo: Raimondo administration steps up role on I-195 land

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State officials are looking at the wisdom of adding to the land that falls under control of the I-195 Redevelopment District Commission and the feasibility of allowing a stadium on the vacant state property in downtown Providence.

[…]

The Rhode Island Commerce Corporation, which Pryor leads as commerce secretary, last Friday began the search for a consultant to help devise a real-estate development strategy for the land opened by the highway relocation project.

The agency released a request for proposal that contemplates the highway commission controlling development of property adjacent to the highway corridor in downtown Providence, as well as evaluating “special purpose uses” for the land, including “athletic/stadium/entertainment facilities, structured parking, etc.” The request was made in conjunction with the commission and the City of Providence.


It is good that this Governor is actively working to develop this land. I do however worry about the State’s involvement in developing downtown. I don’t have too much faith in the understanding of urbanism and what makes a good city at the State level (Exhibit 1: State House surface parking).

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News & Notes

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Chattanooga, Tennessee. Photo (cc) Dave Lawrence.

CityLab: Why Housing Is Key to Chattanooga’s Tech-Hub Ambitions

Chattanooga is aiming to build on the reputation it’s earned from its world-class broadband service. The goal is to make the city a sustainable innovation hub, showing that it’s a well-rounded city rather than a one-trick pony. Evidence of this forward-thinking strategy can be seen in an ambitious expansion of housing downtown—known locally as the City Center—which is aimed at attracting young professionals that value walkable urban cores.

The latest downtown housing effort began in 2013, three years after the city’s gigabit Internet was first introduced. The community was of course enthused by the changes they were seeing in the city. But to local policymakers, the level of housing density in downtown Chattanooga was far from ideal. Over 50,000 people showed up to work there each day, but a dearth of adequate housing prevented many of them from moving there. Over the course of several months, more than 70 local stakeholders came together to identify 22 downtown buildings that needed to be remodeled (some razed) to make room for new housing.


The Boston Globe: A new age for an old town

There have been three great ages of development in modern Boston. The first began after the Back Bay was filled in the late 19th century, a radical change that triggered a historic construction boom. The second came in the 1960s and ’70s, when a “high spine” of office towers — stretching from the financial district to the Pru — began to rise over an old town.

The third is now.

Its businesses and population on the rise, Boston is in the midst of a building spree whose enormity, pace, and geographic sweep are redefining the skyline faster than any period since the early Industrial Age.


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WPRI: Sources: New PawSox owners want to move to Providence

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McCoy Stadium in Pawtucket. Photo (cc) Drew Bennett.

The new owners of the Pawtucket Red Sox want to move the team to a privately-financed stadium in Providence, according to multiple sources with direct knowledge of the situation.

The stadium would be paid for by the new owners, but they would require the state to give them land at no cost, according to sources. The owners are eying the vacant former I-195 land downtown, which the state borrowed $38.4 million to buy back in 2013. The money, plus interest, is supposed to be repaid with the proceeds from selling the land.

On Twitter there was speculation of them wanting to use the West Side 195 park, I would say absolutely not to that, we were promised parks, not ballparks.

“We were briefed last night,” [Pawtucket Mayor Don] Grebien said Monday. “It knocked the wind out of us.” The new owners told Grebien they want the team to play in an “urban district with transportation,” he said.

They said ‘urban’ and ‘transportation,’ :swoon: But wait, this needs lots of vetting, don’t try to trick me!

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Red Sox World Series trophy coming to Providence

red-soxMayor Taveras’ office announced today a celebration of the Red Sox’ World Series Championship in Providence on Wednesday, November 20th.

The World Series Trophy will be on display at the Rhode Island Convention, a rally will take place at 3:30pm. From 4pm to 7pm the public will be invited to have their photo taken with the trophy. Photo opportunities are first-come, first-served.

The events are free and hosted by Mayor Angel Taveras, House Speaker Gordon Fox, and Senate President Teresa Paiva Weed.

Red Sox Rally and photo opportunity with Red Sox World Series Championship Trophy
Wednesday, November 20, 2013 – 3:30pm-7pm
Rhode Island Convention Center
1 Sabin Street, Providence, RI
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