PROVIDENCE – A ribbon-cutting for the Wexford Innovation Center was held Wednesday afternoon, officially marking the completion of the landmark I-195 Redevelopment District project.
The 196,000-square-foot building has anchor tenants of Cambridge Innovation Center, Brown University and Johnson & Johnson.
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“The Wexford Innovation Center is a … symbol of our progress,” said Gov. Gina M. Raimondo in a statement. “Over the last four years, we’ve brought dozens of new businesses to Rhode Island and created thousands of good-paying jobs. Today, what was once nothing but dirt becomes an integral part of our capital city’s Innovation & Design District.”
The total cost of the Innovation Center was approximately $88 million, according to the governor’s office. The project will receive $18.8 million in incentives from the I-195 Redevelopment Fund and $15 million in Rebuild Rhode Island Tax Credits.
“Since breaking ground on this project almost two years ago, we have seen an incredible transformation in the Providence Innovation & Design District, from the completion of the River House apartment project and the redevelopment of Davol Square just down the street, to an incredible waterfront park and several new planned projects on former I-195 land,” said Jim Berens, CEO of Wexford Science & Technology.
The property is located at 225 Dyer St. Berens said that Wexford Science & Technology now calls the building Point225.
“Today marks one of the biggest milestones yet for the I-195 project that has been decades in the making,” said U.S. Sen. Sheldon Whitehouse. “The Wexford Complex will be a new signature for the Jewelry District and the anchor of Rhode Island’s innovation economy.”
