Exeter Property Group purchases Parcel 28 in I-195 Redevelopment District

THE EXETER Property Group has purchased Parcel 28 in the I-195 Redevelopment District. Above, the most recent rendering of the project. / COURTESY I-195 REDEVELOPMENT DISTRICT COMMISSION.

PROVIDENCE — Construction of a mixed-use building in the I-195 Redevelopment District is expected to start soon, following the completed sale of Parcel 28. The site will become the location for a $90 million building that will include 248 apartments and 22,700 square feet of ground-floor retail.

The parcel, which covers 1.25 acres, was sold by the I-195 Redevelopment District for $100,000, according to the purchase and sale agreement.

The project by the Exeter Property Group will take shape on a site bordered by Clifford, Richmond, Friendship and Chestnut streets. It will be called Emblem 125.

The architects are Torti Gallas and ZDS Architecture and Interior Design, of Providence.

- Advertisement -
THE SALE of Parcel 28 in the I-195 Redevelopment District has been completed. / COURTESY I-195 REDEVELOPMENT DISTRICT COMMISSION /GOOGLE INC.
THE SALE of Parcel 28 in the I-195 Redevelopment District has been completed. / COURTESY I-195 REDEVELOPMENT DISTRICT COMMISSION /GOOGLE INC.

In a statement, the Exeter Property Group’s principal said the development team is “thrilled to play a part in the continued growth of the Providence innovation district.”

A groundbreaking ceremony will not be scheduled due to the new coronavirus pandemic.

The ‘first dig’ of an excavator was expected to take place Monday morning.

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

No posts to display