PROVIDENCE – The I-195 Redevelopment District Commission has finalized a letter of intent with two local firms for the purchase of Parcel 6, on the East Side.
The letter gives Peter Case and Jordan Durham time to negotiate a purchase of the property and to pursue a development proposal. Case, of Truth Box Architects, and Durham, founder of D+P Real Estate, will combine efforts on a project that will include a 13,100-square-foot supermarket or grocery store and 49 residential units.
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Their proposed purchase price for the parcel is $1 million.
Under the timeline contained in the letter of intent, the project leaders will execute a lease with a grocery tenant by Dec. 31. Construction is anticipated to start by April 2020.
The commission approved the letter of intent for the 1.5-acre site in its meeting last week.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
