Home Real Estate Housing I-195 Commission to consider updated plans for parcels 14, 15

I-195 Commission to consider updated plans for parcels 14, 15

By

Katie Castellani

-

05/14/2024

New195 — A YEAR after being selected as the developer for Parcels 14 and 15 in the I-195 District, CV Properties’ vision for the property has shifted. A spokesperson for CV Properties told PBN Tuesday that the updated proposal has approximately 7,000 square feet of additional space to make way for the added residential units. /COURTESY CV PROPERTIES LLC

PROVIDENCE – A year after being selected as the developer for Parcels 14 and 15 in the I-195 District, CV Properties’ vision for the property has shifted. In May 2023 CV Properties, a commercial real estate development and investment company, unveiled its proposal to anchor the parcels on Dyer Street with an 11 story, 149-unit

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PROVIDENCE – A year after being selected as the developer for Parcels 14 and 15 in the I-195 District, CV Properties’ vision for the property has shifted. In May 2023 CV Properties, a commercial real estate development and investment company, unveiled its proposal to anchor the parcels on Dyer Street with an 11 story, 149-unit residential building spanning 189,300 square feet, including 8,000 square feet of commercial space on the first floor. The two-phase proposal also included plans for a parcel that is owned by Brown University. Updated plans, with the project name “Dyer Wharf,” that are set to be presented during the I-195 Commission meeting Wednesday show 49 additional residential units, for a total of 198, and the same amount of commercial space as the original renderings. A spokesperson for CV Properties told PBN Tuesday that the updated proposal has approximately 7,000 square feet of additional space to make way for the added residential units. The mix of residential units has also changed so there are no three-bedroom units, but instead there will be 89 studios, 97 one- and 12 two-bedroom units. The original proposal had a mix of 37 studios, 75 one-, 30 two- and seven three-bedroom units, with 10% that would be committed to workforce housing. The updated proposal includes 45 surface parking spots, according to a spokesperson, and the original plans included 56 spots of underground parking spots. Also, the original rendering for the building depicted a slightly curved facade and what appeared to be a rooftop garden and balconies on the south side. New plans show a rectangular building with a blue and gray color palette with no balconies or a rooftop garden. A year ago, the commission’s consultant, Tim Love of Utile Architecture and Planning, recommended the commission select CV Properties as the preferred developer for the property because of the “strength of the initial proposal.” In a memo prepared on the updated proposal, Love outlined recommendations for the next phase of the project’s concept design, noting the materiality and texture suggests “... a scale more comparable to commercial or life science buildings rather than a residential building.” Love also said Utile and the commission has provided feedback to the developer during several meetings and appreciates the development team’s response to comments so far. A spokesperson for CV Properties said the developer has been updating its proposal to “reflect both feedback and cost considerations.” “The updated design maintains the overall scope of the residential project,” a CV Properties spokesperson said. “The team looks forward to sharing an updated design that we believe will support continued forward progress on a project that both adds new housing units and activates an important part of our community.” The I-195 District Redevelopment Commission is scheduled to hear from Utile, CV Properties and host a public hearing on the proposal’s concept design during its meeting at 5 p.m. Wednesday. The meeting will be held on the second floor of District Hall at 225 Dyer Street in Providence and there is an option to attend virtually via Zoom. Katie Castellani is a PBN staff writer. You may contact her at Castellani@PBN.com.