News: Rhode Island

12 month review- Greenprint strategy on the right track

It has been nearly one year since my administration launched Greenprint - a first-ever Providence strategy to build a sustainable community and government and generate a vibrant green economy. Today - just 12 short months later - we have shown our commitment to our goals and begun the globally-important steps of conserving energy and preserving our environment, while building a workforce for tomorrow. Though early, the signs are very promising that we are on the right track. They say competition attracts like business, and industry leaders are learning that we have the resources to make their move - or company expansion - very profitable. From angel investors, to highly-skilled and creative graduates, to nationally-prominent solar and wind manufacturers, to customized workforce training, to financial incentives - Providence is earning a solid reputation as a place that wholeheartedly invites green industry and will work to help it prosper. Along our expansive waterfront, the 105-acre Port of Providence - ProvPort - is transforming itself and many on-site businesses into energy-saving facilities. With plans to install wind and solar equipment to offset rising costs, they are working towards a net-zero energy goal. The city is actively supporting a $39.5 million application to the US Department of Transportation TIGER program and a $6.5 million Economic Development Administration request to expedite job and business development. Along the green Woonasquatucket River Corridor - the birthplace of the American Industrial Revolution - Providence is leading a new industrial revolution of design and manufacturing, and supporting a dozen-plus 'green' businesses with inexpensive and attractive properties, financial and technical support and customized workforce training. And citywide, we are committing ourselves to living and building greener - in our construction of energy-efficient schools through our multi-year Building a Legacy campaign, in the remediation and redevelopment of historic brownfields into active 21st century business sites, in the construction of a green Career and Technical Academy that is training young adults and unemployed residents in higher-paying, higher-skilled trades, and in requiring LEED standards for all new municipal buildings. Just last month, we kicked off a new partnership with the Providence Housing Authority and Groundwork Providence to prepare 30 low-income residents for careers in sustainable landscaping, while offering the math and reading skills remediation and job-placement assistance. Providence has many tools and ample incentives to offer any company large or small that is looking to start a greener future and stronger bottom line here. David Cicilline is the mayor of Providence.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary