PROVIDENCE – The I-195 Redevelopment District has grown by a sliver, with the acquisition of an adjacent property on the East Side that is expected to spur more development interest in Parcel 2.
Lot 589, with just 2,247 square feet, was acquired to provide frontage on James Street for Parcel 2, which has almost 47,000 square feet. Parcel 2 has attracted interest from developers, according to I-195 Redevelopment District Commission Executive Director Caroline Skuncik.
The commission plans to issue a request for proposal for developers on the enlarged parcel in the coming weeks.
The parcel was purchased from the R.I. Department of Transportation in March.
“It enhances significantly the [development potential] of Parcel 2, both in terms of the density, the amount you can build, but also for important design considerations,” Skuncik said. “It allows a building to be built to the corner, which is very important, especially at that location.”
The purchase price was $235,000, according to an I-195 Commission spokeswoman. The acquisition came through a public auction.
Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.
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