Construction begins on new apartment building in Jewelry District

Mary MacDonald

10/04/2018

A GROUNDBREAKING CEREMONY was held recently for Chestnut Commons, a mixed-use development that will include 92 apartments and 6,000 square feet of retail space at the intersection of Chestnut Street and Friendship Street in Providence. From left: Mayor Jorge O. Elorza; Gov. Gina M. Raimondo; Zach Darrow, of Waldorf Capital Management; Secretary of Commerce Stefan Pryor; R.I. Commerce Corp. President Jesse Saglio; Peter McNally, executive director, I-195 Redevelopment District Commission; and Paul Pisano, of Marshall Properties. / COURTESY OFFICE OF GOV. GINA M. RAIMONDO

PROVIDENCE – A groundbreaking ceremony for Chestnut Commons was held recently, signaling the beginning of construction on the $33 million project.

The mixed-use development will include 92 apartments in a six-story building, along with 6,000 square feet of retail space on the ground floor.

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The project by developer Waldorf Capital Management LLC is on one of the parcels of the Interstate 195 Redevelopment District. It is located on Chestnut Street at Friendship Street.

The project received state and city tax incentives, including $3.1 million in Rebuild Rhode Island tax credits, which are designed to leverage investment in both new construction and rehabilitation projects.

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Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.