PROVIDENCE, R.I. (AP) — The I-195 Redevelopment District Commission has approved design plans for a planned project on former Interstate 195 land now owned by the commission.
The Providence Journal reports Monday’s approval gives Royal Oaks Realty Ventures the green light to seek building permits for the $20 million project.
The design plans include a building with a large panel with white LED lights that would be lit for special occasions.
Commission executive director Peter McNally says the development team has begun the process with the city to get a tax-stabilization agreement.
Projects that cost more than $10 million to build are automatically eligible for taxes to be phased in over 15 years as long as they meet certain requirements.
McNally says Royal Oaks could break ground by the end of the year.
