PAWTUCKET – A long-delayed plan to build a hotel along the Blackstone River near downtown Pawtucket is in jeopardy after the developer missed a key deadline in July, meaning the city may seek new development proposals for the 7.5-acre parcel on Division Street.
The $20 million project, first considered at least nine years ago, by Johnston-based Carpionato Properties Inc. included an agreement with the city to build a Hampton Inn along the river and required that the first 100 rooms be completed by July 10, 2009, complete with certificates of occupancy.
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However, the only work done so far at the site, formerly an automobile dealership, has been a limited amount of earth-moving and clean-up.
John Kokot, project leader for Carpionato, which acquired the site from the city four years ago for $1, told Providence Business News the delay was caused by the poor economic climate both nationally and especially in Rhode Island, which is not conducive to construction of a new hotel in Pawtucket. Kokot would not say if Carpionato is ready to abandon the project, nor how long an extension the developer may need.
The developer’s agreement with the city includes a reverter clause that allows Pawtucket to take back the land if the July 10 is missed. Michael D. Cassidy, the city’s director of planning and development, said the decision lies with the City Council, which is expected to act within 30 days after meeting with its attorney. If the city does take back the parcel, new development proposals will be sought, Cassidy said.
Plans had called for the hotel to have 175 to 200 rooms, in the medium-price range of $99 to $150 a night. The new facility was the centerpiece of Pawtucket’s plans to redevelop the waterfront and has been in the works since at least 2000. Carpionato Properties took over the project about four years ago after an earlier developer’s financing fell through.
The Pawtucket Foundation, a nonprofit organization that focuses on economic development, is urging the city to take back the land and seek new proposals for this “incredibly valuable property,” according to a statement issued by Thomas A. Mann Jr., the group’s executive director.
“The citizens of Pawtucket deserve a landmark that contributes to our vibrant community and a stable tax base,” Mann said.
