Mixed-use, life sciences project details revealed at I-195 meeting

DETAILS OF a mixed-use and life-sciences project that could cover five acres of former Interstate 195 land were discussed Monday at the I-195 Redevelopment District Commission. The project would feature six buildings in three phases and would include a hotel with a conference center, retail and restaurant space, as well as laboratory and office buildings and a shared parking garage. / COURTESY WEXFORD SCIENCE & TECHNOLOGY
DETAILS OF a mixed-use and life-sciences project that could cover five acres of former Interstate 195 land were discussed Monday at the I-195 Redevelopment District Commission. The project would feature six buildings in three phases and would include a hotel with a conference center, retail and restaurant space, as well as laboratory and office buildings and a shared parking garage. / COURTESY WEXFORD SCIENCE & TECHNOLOGY

PROVIDENCE — The elements of a mixed-use and life-sciences project that could cover five acres of the former Interstate 195 land were revealed Monday in a public overview by the development team.
The project, a joint effort of CV Properties LLC of Boston and Wexford Science & Technology of Baltimore, a subsidiary of BioMed Realty Company, proposes six buildings constructed in three phases, said Richard Galvin, president of CV Properties.
It will include a 175-room hotel with a conference center, several laboratory and office buildings, retail and restaurant space, and a shared parking garage. The idea is to bring together universities and private industry in a vibrant, mixed-use setting, according to team members.
The initial phase would include the hotel, which would be operated as a Le Meridien property, a combined lab and office building of nearly 183,000 square feet, and a retail, restaurant and meeting space.
Galvin presented the proposed phasing and focus of the development in a public session, then later spoke in a closed door meeting with the I-195 Redevelopment District Commission to discuss more specific details.
After the meeting, Galvin would not discuss what kinds of public financing or incentives the project would require, but he has previously said that the development would likely seek a variety of options. In documents released by the commission in advance of the meeting, notes by commission staff indicate the project applicants could either purchase or lease the land.
Several forms of government support could become available for the I-195 redevelopment district, if the proposed House version of the fiscal 2016 budget is approved. The proposed state budget includes a $25 million incentive fund devoted to development in the district, as well job creation tax credits and real estate tax credits.
The innovation project, as described in the public overview for commissioners, would include a mix of retail, residential and hospitality elements, in addition to buildings devoted to laboratory and office space. The first phase would include a combined lab and office building, of 182,768 square feet, as well as a 175-room hotel with a 10,000-square-foot conference center, 100 units of housing and a shared ground-level garage.
“A well-designed, well-run conference space would do well here,” Galvin said. It would complement the existing R.I. Convention Center, he said. The existing convention center facility also has a 10,000-square-foot ballroom, which can be expanded to 20,000 square feet, according to its website.
The first phase would also include a 12,000-square-foot structure described as a district hall and cafe, modeled after a similar facility in Boston’s Seaport District. The hotel would be operated by Starwood hotels, as a Le Meridien property.
The second phase would consist of two laboratory buildings, of 265,130 square feet and 126,832 square feet, according to Galvin, designed for tenants in the university sector.
A third phase, which would be constructed later, involves a combined lab and office building of 220,000 square feet that would appeal to a corporate tenant, he said.
The renderings presented to the I-195 commission revealed that buildings would be clustered near each other, but leave open space for people to gather.
“We’ve tried to create a fair amount of interactive, open spaces within the plan itself,” he said.

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