Key 195 parcel getting ready for development - receives grant
The I-195 land has the potential to unlock significant redevelopment opportunities. We've put in a lot of work in readying the land for development, from obtaining master permitting, building new roads, putting in new utilities.
I am pleased to announce that we have received a EPA Brownfields Clean Up Grant that will assist in preparing one of our key parcels for development.
Known as Parcel 30, the site is adjacent to Johnson & Wales University's new construction and has frontage on both Friendship and Clifford Streets. It is a highly visible parcel with prime walking transit and driving connections to Downcity, the Jewelry District and Highways A soil analysis and investigation funded by an earlier Rhode Island Department of Environmental Management grant showed Parcel 30 had some soil contamination dating back to its historic use in the 1950s as stores, residences and a jewelry manufacturer.
Governor Gina Raimondo noted, "Cleaning up this parcel of the valuable I-195 land is a critical step not only to protect our environment, but also to attract businesses and catalyze economic growth in Rhode Island."
The $200,000 Brownfields Grant will be used for remediation and preparing Parcel 30 for development and capping.
Not only will this federal investment help protect public health and the environment, but it will also allow the community to work in partnership to revitalize the area and strengthen the local economy.
" I am pleased to see these federal funds flowing to Rhode Island in support of this important project," said U.S. Senator Jack Reed, a member of the Appropriations Subcommittee that oversees federal funding for all EPA programs.
In 2002, Reed helped pass legislation making this federal Brownfields funding possible. I'd also like to recognize the Environmental Engineering firm of Fuss & O'Neil for its critical help in obtaining the grant.
EPA's Brownfields Program provides direct funding for brownfields assessment, cleanup, revolving loans, and environmental job training. To facilitate the leveraging of public resources, EPA's Brownfields Program collaborates with other EPA programs, other federal partners, and state agencies to identify and make available resources that can be used for brownfields activities.
Jan Brodie is executive director of I-195 Redevelopment District Commission, Providence, R.I.
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 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!
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 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