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Pawtucket – Today, at the newly renovated and revitalized Festival Pier, Mayor Donald R. Grebien announced that the City’s evaluation team is recommending that the City move forward with a development proposal for the long-vacant parcel of land situated at the intersection of Division Street and Water Street on the City’s riverfront.
The proposal, by Peregrine Group, LLC includes a mix of market-rate residential apartments, commercial and retail space. Under this proposal, this property, long considered a vital economic development priority for the City, will finally be transformed into a beautiful mixed-use development with riverfront views and public access. It also calls for a public river walk that connects to newly renovated and revitalized Festival Pier. The preliminary program would see approximately 8,000 square feet of commercial/office space. Additionally, 214 residential apartment units totaling 26,000 square feet would also be implemented along with surface and garage parking to accommodate over 500 vehicles.
Initially, the City put out a request for qualifications (RFQ) to the private development community to gauge interest in the parcel and ensure that the eventual successful bidder would be duly qualified. The RFQ resulted in three qualified bidders responding. The city then issued a request for proposals (RFP) to the three bidders. Pawtucket’s economic development team met with each bidder to discuss the City’s goals and priorities at the site. At the end of the process, the Peregrine Group submitted a qualified proposal for the property.
In order to ensure a thorough analysis of the proposals, the City put together a four-member evaluation team composed of: Barney Heath, Director of Planning and Redevelopment for the City of Pawtucket, Aaron Hertzberg, Executive Director of the Pawtucket Foundation, Peter Hayes, Partner at Hayes & Sherry; and Paul Greisinger, President of Capstone Properties. This team reviewed all of the information in the proposal and did extensive work examining the economic impact that this project would yield for the City of Pawtucket. After the completion of this process, the evaluation team has recommended the City move forward with the proposal.
“This transformational proposal has the potential to serve as a catalyst to drive future economic growth along the Pawtucket riverfront,” said Mayor Grebien of the proposal which will go before the City Council for review. “I am truly excited by the proposal that we are forwarding to the Council today and its implications for our City. This development proposal is indicative of the sweeping positive change happening in the City of Pawtucket right now,” Grebien continued.
The preferred developer, Peregrine Group, shares that vision and commitment to the City of Pawtucket. “We look forward to working with our partners in the City of Pawtucket, the Pawtucket Foundation, the Pawtucket Redevelopment Agency, and our nearby neighbors to create a lively campus that is a great place to live, work and play, while also enhancing public access to the waterfront and supporting Downtown businesses by adding population. The site is beautifully situated on the Seekonk River within walking distance to the newly renovated Festival Pier, an increasingly dynamic Downtown, and Memorial Hospital, with the added bonus of quick access to Interstate 95. We are thrilled to be working in a pro-business city with strong and capable leadership,” said Colin P. Kane, Principal of Peregrine Group.
The proposal will now be handed to the Pawtucket City Council for their review and approval in accordance with the City Charter.
This development is the latest in what has proved to be a very active time for property situated on the City’s riverfront. City, State and Federal officials, including Senator Jack Reed, recently held a ceremony celebrating the reconstruction of the river wall behind City Hall that was damaged as result of the historic flooding in March of 2010. Alongside the reconstructed wall, the City also cut the ribbon on the first phase of bike path that it will seek to expand in the future. In June, the revitalized and renovated Festival Pier was dedicated in a ceremony featuring Governor Gina Raimondo. Finally, adjacent the new proposed development site, a brand new medical facility is scheduled to open its doors and begin accepting patients soon.
- Mayor Donald R. Grebien