Greater City Providence

ProJo: R.I. state aid approved for planned Providence hotel

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Construction may begin this summer on an extended-stay hotel on a vacant, triangular lot in Providence’s Capital Center Commission district because the Rhode Island Commerce Corporation agreed Monday night to give the developer as much as $4.8 million in taxpayer assistance over 20 years.

The Commerce agency’s board of directors unanimously approved the incentive for a Homewood Suites by Hilton, with 120 suites at 5 Exchange St. This is the first project to take advantage of a new state-level Tax Increment Financing program proposed last year by the Raimondo administration and approved by legislators.

[alert type=”muted”]See previous posts about the proposed Providence Homewood Suites[/alert]

Greater City Providence

Promoting the smart urban growth of the Greater Providence region.

3 comments

  • I’d like to see them add balconies overlooking WaterFire and the river. Is this still possible? Or has the time come and gone?

  • Great to see more development downtown. This parcel is s great gateway from college hill/providence river into downtown/burnside/Kennedy plaza. I’m so sick of seeing that unused parcel everyday on my way to work. Will add more life to the area too. This is awesome.

  • It’s better than nothing, and maybe someday a renovation will bring balconies or something else to make it more appealing.

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