Urbanica and its proposed 6-story apartment complex selected by I-195 panel

THE I-195 REDEVELOPMENT DISTRICT COMMISSION unanimously decided Wednesday to select Urbanica Inc. as the preferred developer of Parcel 2, a high-profile property along South Water Street in Providence. The developer plans to build a six-story, 194-unit apartment building on the site. / COURTESY URBANICA
THE I-195 REDEVELOPMENT DISTRICT COMMISSION unanimously decided Wednesday to select Urbanica Inc. as the preferred developer of Parcel 2, a high-profile property along South Water Street in Providence. The developer plans to build a six-story, 194-unit apartment building on the site. / COURTESY URBANICA
PROVIDENCE – Urbanica Inc. was selected Wednesday from a group of three competing firms as the preferred developer for a mixed-use apartment building along the Providence River on an undeveloped one-acre site known as Parcel 2. The I-195 Redevelopment District Commission announced its decision around 6 p.m. after a nearly one-hour, closed-door session, discussing the…

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2 COMMENTS

  1. Of the three proposals, Urbanica’s seemed to be the best. My only question is the mix of apartment sizes, it seems 120 studios out of 194 total units is high and caters to a highly transitory segment of renters. Good planning favors condos versus rental units because ownership provides the roots for a more stable and vested community.

  2. I don’t know if Urbanica’s proposal is the best, but given the price they are paying, it is certainly a good deal for Urbanica. Other than that, I agree with Mr. Rendine’s comments, something I almost never do.
    This is another Providence Arcade in the making. This is prime real estate and, instead of wasting it on affordable housing which will only eventually be turned into Brown dorms anyway (which is probably Urbanica’s exit plan), it should used to build high end condos to attract well paid professionals from Boston. HOPEfully, the presence of these commuters would spur economic development. Low income housing dwellers sure as hell won’t. They’ll do just the opposite, in fact. RI needs high paying jobs not, low income housing.
    When is RI going to realize that they have potential gold mines in Boston / Cambridge waiting to be tapped?
    The smartest thing RI voters could do is to vote to merge RI into MA.