PROVIDENCE – A development of modern residential apartments on a small parcel of the Interstate 195 Redevelopment District won preliminary approval on Monday, and will move forward to negotiation of a purchase and sale agreement.
The Chestnut Commons project is presented by Waldorf Capital Management LLC. The principals are Zachary Darrow and Brian Poitras.
The project would involve new construction on the six-tenths-of-an-acre site, and development of a six-story building. The project would include 91 apartments, as well as 5,200 square feet of retail and an interior courtyard, among other amenities.
The construction cost is estimated at $27 million, and could potentially begin in the second quarter of 2017, according to an I-195 Redevelopment Commission fact sheet.
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