(Updated, Dec. 13, 4:07 p.m.)
PROVIDENCE – The I-195 Redevelopment District Commission on Monday approved a purchase and sale agreement for Parcel 30, which will be developed by Waldorf Capital Management LLC.
The $27 million project will include residential apartments within a new, six-story building. The site is adjacent to the Irons & Russell Building, a historic renovation now being completed by the same development team.
The Chestnut Commons project, designed by architect Northeast Collaborative Architects, will have 91 apartments and 5,200 square feet of retail at street level.
A waiver approved by the commission on Monday will allow the developers to place parking at the street level without installing glass or transparent materials as required under Providence zoning.
The purchase and sale agreement was not released following the meeting. A commission spokeswoman said all parties had not signed the document.
Construction is expected to begin in the second quarter of 2017.
