A newly proposed mixed-use project in the I-195 Redevelopment District would combine two parcels with an adjacent property owned by the University, according to an April 12 University press release.
The project — proposed by Boston developer CV Properties — includes an initial residential building and long-term plans for two other mixed-use developments on 195 Parcels 14 and 15 as well as the adjacent University property at 198-200 Dyer Street, according to the release.
According to a letter of support from the University to the I-195 Commission, the University has endorsed the project, offering its property for the project contingent on the selection of CV Properties’s proposal.
“Brown already has significant investments, academic, research and administrative activity in this area of Providence,” the letter from Executive Vice President for Planning and Policy Russell Carey ’91 MA’06 reads. “Therefore, Brown is extremely interested in the outcome of the RFP and is aligned with the Commission in its commitment to furthering the positive development of this neighborhood.”
According to the release, the proposed residential property — which would stand on Parcel 14 and a piece of the University property — would create 375 construction jobs and 30 permanent jobs. The master proposal could create at least 1,500 construction jobs and 1,600 high-skill permanent jobs. The project would also provide new space for commercial and laboratory use.
CV Properties’ proposal states that the project team would include architecture firm SGA, engineering and design group VHB and Shawmut Design and Construction, which has constructed a number of University buildings including the soon-to-open Lindemann Performing Arts Center.
The project’s first phase would be the residential building — an 11-story building across Parcel 14 and a portion of the University’s property. The first floor would include retail space, and the remaining 10 floors would encompass 149 units, along with a rooftop amenity deck and green roof. Of the 149 units, CV Properties committed to 10% workforce housing — affordable units for middle-income workers.
“This would be a private residential/commercial development led by CV Properties, not student housing,” wrote University Spokesperson Brian Clark in an email to The Herald.
The long-term master plan includes two additional buildings on land that would encompass Parcel 15 and the rest of the University's Dyer Street property for a total of 512,000 square feet: 159,000 square feet of residential space, 120,000 square feet of office space and 233,000 square feet of lab space. The design conforms to city zoning and the I-195 Commission’s resiliency goals, and all properties will be added to the commercial tax roll despite the inclusion of property owned by the University, according to the release.
Beyond project approval, CV Properties is seeking a tax stabilization agreement under the TSA city ordinance for the I-195 District.
“This phased project offers immediate housing benefits and long-term potential to significantly advance the economic development, land use and job creation goals of both the 195 Commission and the City of Providence,” said Founder and President of CV Properties Richard Galvin in the release. “Together with Brown University, we are able to create a more holistic parcel that has flexibility to support this mix of uses. I am grateful to Brown for their partnership and their vision for an improved public experience in the 195 District and nearby neighborhoods.”
“Brown has long intended to redevelop the property at 200 Dyer St. as part of the Jewelry District’s continued transformation,” wrote Clark. Currently, 198-200 Dyer Street houses administrative offices and a parking lot, including the Office of College Admission at 198 Dyer Street.
The plan will not create any University spaces, Clark wrote.
“Our participation is not focused on creating Brown space, but rather helping to propel a broader project that would bring additional life to the neighborhood and support city and state goals,” he wrote.
“Our goal is to help enable a project that would make use of a currently underutilized site in a way that supports city and state goals for the former 195 land, provide important tax revenue to Providence and continue the positive transformation of the neighborhood to one that is thriving, both culturally and economically.”
The project would combine properties under different ownership, but since it is currently in the form of a proposal, “the specific approach to ownership has not been determined,” Clark wrote.
“A distinct real estate LLC would likely be established as the owner of the entire site,” through which the University would “provide its 198-200 Dyer St. property to the project.”
“Specific details of all transactions would be determined with CV Properties if the proposal is approved,” Clark wrote.
The proposed project will be presented by representatives from CV Properties at the Commission’s April 19 meeting, according to the release.
Rhea Rasquinha is a Metro Section Editor covering Development and Infrastructure and also serves as Co-Chief of Illustrations. She previously covered the College Hill, Fox Point & the Jewelry District and Brown & Beyond beats. Rhea is a junior from New York studying Biomedical Engineering and loves dark chocolate and penguins.
