9 developers submit proposals for Parcel 5 in the 195 district

PROVIDENCE – 9 corporations are vying to develop probably the most outstanding remaining parcels within the 195 Redevelopment District, a 1½-acre plot on the east facet of the Windfall River between South Important and South Water streets. 

The proposals vary from as small as 104 residential models to as massive as 259 models, some with one constructing deliberate, others with two, and constructions as excessive as six flooring, with business house on the bottom ground.

The I-195 Redevelopment District Fee is anticipated to listen to pitches Wednesday from the corporations for his or her visions of Parcel 5, which is now a grassy plot throughout Wickenden Avenue from the mix-used improvement anchored by a Dealer Joe’s grocery retailer.

The property is attracting extra consideration than the abutting Parcel 2 land being developed by Urbanica Inc., which is slated to assemble two buildings with 170 residential models and business house. Parcel 2 initially drew three proposals.

The 9 plans submitted for Parcel 5 are available response to the request for proposals issued by the district fee. Builders have been inspired to submit pedestrian-friendly plans with mixed-use developments that hook up with the riverfront park alongside South Water Avenue and the Fox Level neighborhood.

The corporations embody EQT Exeter; Transom Actual Property; CranLake LLC; Bluedog Capital Companions, LLC; Design Heart Companions; The Parcel 5 JV; Cabot, Cabot & Forbes; Greylock Property Group; and Toll Brothers.

The Parcel 5 JV is a three way partnership involving Mum or dad + Diamond Actual Property Growth and City Areas LLC, in keeping with the paperwork submitted to the 195 District Fee. The 2 corporations had labored collectively on an unsuccessful mixed-use proposal for Parcel 2.

EQT Exeter’s proposal is a six-floor constructing with 210 residential models – together with 21 models of workforce housing and 12 live-work models. There may be additionally 10,000 sq. ft of retail house and a parking storage on the primary and second flooring with 110 areas. Residents may transfer in as quickly as August 2027 if the design, approval and building processes go to plan, in keeping with  EQT Exeter paperwork. This isn’t the developer’s first time working within the district because it constructed Emblem 128, a mixed-used improvement on Parcel 28 with 249 residential models and floor ground retail house.

Transom Actual Property is proposing a six-story constructing with 220 flats, 1,200 sq. ft of gallery house, 2,100 sq. ft of pop-up retail together with house for a restaurant and bar, and health heart. Plans present the massing can also be designed in a method that creates courtyards that confide in the park, waterfront and Fox Level neighborhood.

CranLake LLC’s proposal contains two constructions – one referred to as “The Wharf Constructing” and the opposite “The Vessel” with a connector in between. Plans for the six-story improvement embody 201 residential models with as much as 10% put aside for workforce housing together with roughly 25,000 sq. ft of retail and workplace house. There may be structured parking with 118 areas and 15 on-street customer spots in addition to 120 bike parking areas.

Bluedog Capital LLC’s proposal, named “Very important on the River”, contains 41,700 sq. ft of economic and retail house, 57,600 sq. ft for a lodge on the second by means of fourth flooring and 40,700 sq. ft for condos on the fifth and sixth flooring. Plans additionally embody spots for a studying heart, rentable house, a restaurant, co-working, a health heart and a rooftop deck. The developer notes within the plans the proposal is supposed to be a way of life improvement the place residents can “Stay, Work and Prosper.”

Design Heart Accomplice’s proposal is titled, “The Windfall Artwork & Design Heart,” with 200 residential models – together with 5% of artistic workforce housing – and a 50,000-square-foot artwork and design heart. In line with the plans, builders have an settlement in precept with OPEN Initiatives to create an exhibition house and with Angel’s Kitchen for a meals and beverage idea. There are additionally not less than 70 underground parking areas included within the plans.

The Parcel 5 JV’s proposal has two buildings with a courtyard in between them. Plans embody 104 residential models, together with 4 reserved as workforce housing, and 75 parking areas in a structured storage in addition to 55 bike areas. There may be additionally 8,000 sq. ft of retail house, spots for a bakery, restaurant and occasional or ice cream store.

Cabot, Cabot & Forbes’ proposal is a six-story improvement with 259 residential models with not less than 13 reserved as privately sponsored workforce housing, 81 parking areas and 137 bike areas. If chosen, plans present the developer expects the constructing to be move-in prepared in March 2028. The massing is damaged up with two rooftop decks on the second ground, giving the constructing the looks of getting three separate constructions. Plans additionally embody 7,800 sq. ft of retail house.

Greylock Property Group LLC’s proposal is 2 buildings with 160 residential models, 13,100 sq. ft of retail and restaurant house, and 6,000 sq. ft of workplace house and a rooftop deck. The six-story improvement is made up of two L-shaped buildings with a courtyard and out of doors eating house in between. 

Toll Brothers’ proposal is a six-story improvement with 227 residential models, 114 bike areas and 130 parking areas. There may be additionally 11,650 sq. ft of retail and restaurant house. Much like Cabot, Cabot & Forbes’ proposal, the massing is break up up with two rooftop decks above the retail house.

Builders are scheduled to current their proposals through the fee’s assembly Wednesday at 5 p.m. The assembly will happen at District Corridor at 225 Dyer St., members may also attend the assembly nearly on Zoom.

(Up to date so as to add details about The Parcel 5 JV, one of many entities that submitted a proposal.)

Katie Castellani is a PBN employees author. You could contact her at [email protected].