Waldorf Capital Management to pay $1.2M for I-195 parcel

Amy Anthony

01/24/2017

THIS 3-D RENDERING shows the proposed plan for Chestnut Commons, a development of modern residential apartments in the Interstate 195 Redevelopment District. It would include 91 apartments, as well as 5,200 square feet of retail and an interior courtyard. / COURTESY NORTHEAST COLLABORATIVE ARCHITECTS

PROVIDENCE – Waldorf Capital Management LLC plans to pay more than $1.2 million for a parcel of land in the city’s I-195 Redevelopment District.

That’s according to the purchase and sale agreement, which was made available Monday. The I-195 Redevelopment District Commission approved the agreement for Parcel 30 on Dec. 13.

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The $27 million project, called Chestnut Commons, will include 91 residential apartments within a new six-story building. The building will also have 5,200 square feet of retail space at street level. The project was designed by Northeast Collaborative Architects.

Construction on Chestnut Commons is expected to begin in the second quarter of 2017.

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