PROVIDENCE – The I-195 Redevelopment District Commission is asking the board of directors to approve the designation of a vacant parcel of district land for Hasbro Inc. to relocate its corporate headquarters.
An agenda item posted for the Nov. 6 meeting includes a potential vote to give the company the exclusive rights to build a new corporate headquarters on Parcel 42, the site that for six years was under a purchase agreement with the Fane Organization, which planned to build a 550-foot, $300 million luxury tower that would have become the tallest building in the city.
“We’ve done our due diligence and a new Hasbro headquarters is a perfect fit for the 195 District, for Providence, and for Rhode Island,” said Marc Crisafulli, chairman of the I-195 Redevelopment District Commission. “We’re putting the pieces in place in advance of a meeting with Hasbro to show that we are committed and ready to move forward with this site for their new corporate headquarters.”
A rendering of the 300,000 square foot building features a open floor plan, on-site parking, ground floor retail space, and a toy museum opening onto 195 District Park. There is also show a fabrication lab visible from the park.
Meanwhile, Gov. Daniel J. McKee, Pawtucket officials, and the administration of Mayor Brett P. Smiley have been working on separate proposals to present to Hasbro, which should be done in the coming weeks, according to Smiley spokesperson Josh Estrella.
Last month, it was revealed that Hasbro CEO Chris Cocks and Mass. Economic Development Secretary Yvonne Hao had been discussing a potential move to Massachusetts for six months.
In an Oct. 23 memo to staff, Cocks said employees should expect another update on the “location strategy” sometime in the first quarter of 2025.
The company employs about 1,000 people locally, but confirmed on Oct. 24 that it plans to cut fewer than 100 jobs, with roughly half based in Rhode Island.
In a statement Friday, Hasbro spokesperson Andrea Snyder declined to comment on the I-195 proposal directly, but said "It’s early and we continue to explore options."
Crisafulli said he hopes the 195 District, which “has all the assets and amenities that today’s workforce wants in a neighborhood,” remains in the running.
“We’re excited for the opportunity to share our vision and hope that Hasbro is as excited about it as we are,” he said.
(UPDATE: Comment and more detail from Crisafulli added in 3rd, 4th and 10th paragraphs.)
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
