9 developers submit proposals for Parcel 5 in the 195 district

PROVIDENCE – 9 companies are vying to develop one of the crucial outstanding remaining parcels within the 195 Redevelopment District, a 1½-acre plot on the east aspect of the Windfall River between South Essential and South Water streets. 

The proposals vary from as small as 104 residential models to as large as 259 models, some with one constructing deliberate, others with two, and buildings as excessive as six flooring, with industrial area on the bottom ground.

The I-195 Redevelopment District Fee is predicted to listen to pitches Wednesday from the companies for his or her visions of Parcel 5, which is now a grassy plot throughout Wickenden Road from the mix-used growth 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 industrial area. 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 connect with the riverfront park alongside South Water Road and the Fox Level neighborhood.

The companies embrace 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 Dad or mum + Diamond Actual Property Improvement 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 area 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 growth on Parcel 28 with 249 residential models and floor ground retail area.

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

CranLake LLC’s proposal contains two buildings – one known as “The Wharf Constructing” and the opposite “The Vessel” with a connector in between. Plans for the six-story growth embrace 201 residential models with as much as 10% put aside for workforce housing together with roughly 25,000 sq. ft of retail and workplace area. 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 business and retail area, 57,600 sq. ft for a resort on the second by means of fourth flooring and 40,700 sq. ft for condos on the fifth and sixth flooring. Plans additionally embrace spots for a studying middle, rentable area, a restaurant, co-working, a health middle and a rooftop deck. The developer notes within the plans the proposal is supposed to be a life-style growth the place residents can “Stay, Work and Prosper.”

Design Heart Companion’s proposal is titled, “The Windfall Artwork & Design Heart,” with 200 residential models – together with 5% of inventive workforce housing – and a 50,000-square-foot artwork and design middle. In accordance with the plans, builders have an settlement in precept with OPEN Tasks to create an exhibition area and with Angel’s Kitchen for a meals and beverage idea. There are additionally no 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 embrace 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 area, spots for a bakery, restaurant and occasional or ice cream store.

Cabot, Cabot & Forbes’ proposal is a six-story growth with 259 residential models with no 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 buildings. Plans additionally embrace 7,800 sq. ft of retail area.

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

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

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., contributors also can 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 workers author. Chances are you’ll contact her at [email protected].