Construction on “Waterplace,” the mixed-use residential development planned for the Capital Center district in downtown Providence, was expected to officially begin at this morning.
The site, Waterplace Park bounded by Exchange Street and Park Row West, will be developed into a luxury condominium and retail development. The project, on parcel two in the Capital Center District, will consist of two residential towers – 19 and 17 stories high – that will be home to 193 luxury condominiums, a 475-space underground garage and ground-floor retail space.
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Boston-based Intercontinental Real Estate Corporation is behind the project. Waterplace is the first residential project to break ground in the Capital Center District in the last 15 years. Gilbane Building Company of Providence is handling construction. Collaborative Companies of Boston is marketing the property.
