Regency Plaza owners plan new addition to apartment complex

PROVIDENCE – The owners of the Regency Plaza Apartments in downtown are planning to build a new 134-unit rental building on the Broadway side of the complex.

Richard Lappin, co-owner of Regency Plaza LLC and president of Lisco Development, said the new building would be either five or six stories, but declined to go into more detail because of the early stage of the project.

To build the new mid-rise building, Regency is asking the city to abandon a “portion of the width of Broadway between Dave Gavitt Way and Greene Street,” according to the City Plan Commission, which is slated to review the request Tuesday afternoon.

Co-owned by Chestnut Hill Realty of Brookline, Mass., Regency Plaza includes three towers housing 444 apartments and 40,000 square feet of commercial space on 5.9 acres.

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Built by Gilbane Building Co. as part of the Weybosset urban-renewal district, One Regency Plaza was finished in 1968, Three Regency was completed in 1972 and Two Regency in 1974.

Between 2007 and 2012, ownership invested $14.5 million to renovate the existing three buildings. In the fall of 2012, Lappin said the apartments were 98 percent occupied.

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