PROVIDENCE – The board of directors of R.I. Commerce Corp. voted Monday to award $1 million in redeemable tax credits to Marsella Development Corp. for its plans to open a first-of-its-kind food hall in the lower level of the Union Station building.
The tax credits are part of the Rebuild Rhode Island program, which awards projects with redeemable tax credits covering up to 20% of project costs.
“The food hall is an incredibly important investment in Rhode Island, and we are looking forward to the positive impact it will have by providing business opportunities for local restaurateurs, reinvigorating downtown Providence, providing additional jobs and revenue in the city, and ensuring the viability of an important historic property for generations to come,” Christopher Marsella, president of Marsella Development Corp., said in a statement. “We are thankful to the Rhode Island Commerce Corporation for its ongoing support of this endeavor.”
Lindsay Russell, an R.I. Commerce spokesperson, said the board is excited about the project and “its potential impact on downtown Providence.”
First introduced in 2021, the project aims to redevelop the lower level of the train station, located at 1 Union Station, to build a food hall that will feature a variety of foods and vendors. Construction will begin this summer and Marsella said it hopes to open in the spring of 2024.
The food hall “will offer an exciting and unique culinary experience within the capital city’s historic Union Station,” according to Marsella, which partnered with the MK Global Hospitality Group to redevelop the property.
Originally slated to be a $23.5 million project, featuring a 19,000-square-foot food hall, the project was scaled down due to “challenges related to the supply chain and those that arise when working with a historic building,” Marsella said.
The new plan will cost approximately $19.5 million and will feature 17,000 square feet of interior space with seven local merchants, vendor carts, a central bar and seating for more than 300 people. The plan also includes a 10,000-square-foot outdoor plaza.
Claudia Chiappa is a PBN staff writer. You may contact her at Chiappa@PBN.com.
Seriously? We’d be better off if they turned the Superman Building or PPM into a food court. How many folks will be hitting the food court during the winter or when temps are in the 90s during the summer?