PROVIDENCE – The Procaccianti Group has received final approval from Providence to both demolish the vacant John E. Fogarty Memorial Building and build its new hotel, with interior remediation scheduled for early January.
The demolition work is expected to begin in early February, said Ralph Izzi, a spokesman for the Cranston-based hotel management and development company.
Razing and removal of the concrete, Brutalist building at 111 Fountain St. will take several weeks. New construction is scheduled to begin in early March, Izzi said, in an emailed response to the Providence Business News.
The $40 million project will replace the 1968-era Fogarty building with a Marriott Residence Inn. The address of the new hotel will be 100 Sabin St., placing its main entrance directly across from the Rhode Island Convention Center.
Demolition of the Fogarty building will likely require periodic closure of parking lanes on Sabin and Fountain streets downtown. The final traffic control program will be prepared by the demolition contractor, Izzi said.
The new construction will involve a nine-story hotel with 176 rooms and retail at street level. The general contractor is Gilbane Building Co. The building design is by Vision 3 Architects, according to the building permit.
The building permit review was completed Nov. 3.
The City Council in December 2015 authorized a 12-year tax stabilization agreement to help facilitate the project, which will phase in the full tax burden of the improvements over a nine-year span. For the first three years of construction, the project will pay a baseline amount. The R.I. Commerce Corp., in turn, approved a partial reimbursement of the TSA costs to be absorbed by city taxpayers.
Since obtaining these incentives, the Procaccianti Group has spent the past year pursuing design approval for its hotel and completing plans for the Fogarty building demolition, according to Izzi.
“The progress of this project is well-within a reasonable timeline for an urban demolition/new build of this complexity,” he said. “Now that much of the pre-development process is complete, we are looking forward to commencing substantial activity on the site very soon and the positive energy it is sure to generate in the city of Providence and throughout the entire state.”