WPRO News
Two firms are making a joint bid to build a million square-foot, mixed use development on two parcels of the I-195 land.
According to Governor Gina Raimondo’s office, Wexford Science and Technology and CV Properties LLC have made an undisclosed, multi-million dollar bid on parcels 22 and 25 to accommodate laboratory, office, hotel, and retail spaces. In a statement, Governor Raimondo said this is the type of project which can help kick-start the economy.
““This is an exciting preliminary proposal that could begin the transformation of the I-195 land from vacant lots to a thriving innovation district that highlights the potential of partnering with our outstanding research institutions and our proximity to Boston and Cambridge,” said Raimondo.
“As I’ve said many times before, there’s no one solution to spark the state’s comeback, but I believe that strengthening our innovation economy – combined with a comprehensive jobs plan – is a great way to get started.”
The initial draft would see the parcels developed in stages and built over several years.
Providence Mayor Jorge Elorza also released a statement voicing his excitement over the deal.
“We look forward to reviewing the developer’s proposal and will work closely with the Governor’s office, the I-195 commission and all stakeholders to ensure that the I-195 land is put to the best possible use.”
The I-195 Commission will be evaluating the proposal over the next several weeks.
