R.I. Commerce OKs $730K grant for downtown Providence apartment project

Updated at 12:30 p-.m. on April 23

THE R.I. COMMERCE BOARD OF DIRECTORS approved $730,000 in incentives for the New York-based developer seeking to convert the historic Lauderdale building at 136 Westminster St. into a mixed-used site./COURTESY NORTHEAST PRIVATE CLIENT GROUP

PROVIDENCE – The R.I. Commerce Corp. board of directors on Monday unanimously approved a $730,000 grant for the New York-based developer seeking to convert the historic Lauderdale Building at 136 Westminster St. into a mixed-used site with three commercial spaces and 24 market-rate apartments. The grant comes from the First Wave Closing Fund, a discretionary

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2 COMMENTS

  1. It’s heartbreaking to see the state giving 3/4 of a million dollars to a private developer from New York to create retail and market rate apartments in a city where there are hundreds of men women and children living on the streets! That money could have made those units affordable. `

  2. It’s great to see the RI Commerce Corp. helping a New York developer come in and save and repurpose a building that is an important piece of our urban fabric downtown. The use of this money in this way is exactly the way a commerce corp. should be spending it.