News: Rhode Island

Citizens Financial Group holds groundbreaking for 420,000 s/f

Groundbreaking of new Citizens Bank corporate campus - Johnston, RI Groundbreaking of new Citizens Bank corporate campus - Johnston, RI

Johnston, RI Citizens Financial Group held a groundbreaking ceremony at the site of its new corporate campus. The company made plans in March to build a new campus for 3,200 colleagues, primarily from a Cranston location with a lease set to expire in 2018.

Citizens Bank executives were joined by governor Gina Raimondo, mayor Joseph Polisena, Sen. Jack Reed, Sen. Sheldon Whitehouse, Rep. Jim Langevin, Rep. David Cicilline and other state and local officials, community partners and colleagues to break ground and unveil plans for the campus.

The campus will feature collaborative work space, dining and fitness facilities for colleagues, and ball fields, tennis, and basketball courts and trails that will be available for use by the local community. The name of the street leading to the campus was also announced. Nearly 1,000 Citizens Bank colleagues took part in a survey in which “Citizens Bank Way” was chosen.

“We are excited about this new campus, which will be a state-of-the-art facility designed to foster collaboration among colleagues and to deliver an efficient and productive workplace,” said Bruce Van Saun, chairman and CEO, Citizens Financial Group.

The planned project includes infrastructure improvements along Greenville Ave. like the extension of sewer lines into the area by the Narragansett Bay Commission and the construction of a new exit for I-295, the estimated cost of which will be split by the Rhode Island Department of Transportation and Citizens.

“Citizens’ remarkable corporate campus here in Johnston will contribute significant short and long-term economic activity that will add to Rhode Island’s comeback, as well as provide key infrastructure improvements that will directly benefit state and local residents,” said governor Raimondo.

The property is being designed to preserve more than 60 acres of trees and wetlands to pay homage to the natural environment of the area. As part of the project, Citizens has remediated the decades old landfill that was on the property, and plans to integrate wildlife paths for habitat circulation. The bank has also incorporated into the design an extensive storm water system for protection of wetlands and sensitive areas, as well as rainwater harvesting for irrigation of the landscape.

“This is an exciting time for our town and our state. Citizens Bank’s new corporate campus will be a staple in our community,” said mayor Joseph Polisena.

Citizens plans to open the doors at the new, 420,000 s/f corporate campus in mid-2018. It will house colleagues serving a wide range of activities, including various corporate functions and a call center. The Citizens headquarters will remain in Providence. As of now the project team includes: Dimeo Construction, general contractor; Elkus Manfredi, architect; and DiPrete Engineering, engineer.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
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