PROVIDENCE – Johnson & Wales University has completed the purchase of two parcels of land from the state Rhode Island to expand its downtown campus, the school announced Friday.
The two parcels of land, created by the relocation of Interstate 195, were purchased for the state fair market value of $3.9 million. Earlier this year, Johnson & Wales signed an agreement with the city for payments in lieu of taxes in connection with the parcels.
JWU’s expansion plans include construction of a new academic building, which is set to being after the area’s infrastructure, including streets, are already in place.
According to JWU spokesperson Lisa Pelosi, no final decisions have been made on what academic program the new building will house.
“Johnson & Wales University appreciates the persistence and hard work of all involved… to put all of the elements of this purchase in place so we can move forward on our master plan for our Downcity Campus,” JWU Chancellor John Bowen said in prepared remarks.
“This area is integral to the future economic development of our city and state, and I am very pleased our plans for these parcels of land will bring jobs and activity to the old Route I-195 corridor and serve as a catalyst for other private development to follow,” added Bowen.
The land, known as Parcel 31 and Parcel 36, abuts current JWU property along Pine and Friendship streets.