Development proposed for Pawtucket waterfront

PEREGRINE GROUP LLC is proposing a $50 million development for Pawtucket's riverfront that would include a mix of residential and commercial space. / COURTESY PEREGRINE GROUP LLC
PEREGRINE GROUP LLC is proposing a $50 million development for Pawtucket's riverfront that would include a mix of residential and commercial space. / COURTESY PEREGRINE GROUP LLC

PAWTUCKET – A $50 million project for Pawtucket’s riverfront is being touted by the mayor as a “transformational proposal” with potential to drive future economic growth.
Proposed by the Peregrine Group LLC, the project features 214 apartments in three buildings and four commercial buildings, as well as a parking garage. It also calls for a public river walk connecting to Festival Pier, which just had a $2.1 million renovation.
“The site in Pawtucket is very compelling for a lot of reasons. It’s right on the water. It’s a good opportunity for a mixed-use project,” Sam Bradner, a principal with Peregrine Group in the Rumford section of East Providence, said.
The development along the Seekonk River is bound by Division, Water and School streets.
The city-owned land is vacant, totals 11 acres and last was used as a staging ground for the construction of the I-95 Pawtucket River bridge, according to Dylan Zelazo, chief of staff for the mayor’s office.
He said two previous proposals for a hotel on the property presented over the last 20 years never came to fruition, the second of which resulted in a lawsuit between the city and would-be developer. The city was able to take the land back for non-performance as the hotel construction had not begun after 48 months, Zelazo said.
Two years ago, the city put out a request for qualifications followed by a request for proposals from the three qualified developers that responded to the RFQ for a project on the land, resulting in the selection of the Peregrine Group.
Mayor Donald R. Grebien informed the City Council this week that the Peregrine Group proposal was selected by the evaluation team. That team also included private-sector volunteers. In addition, Camoin Associates evaluated the economics of the plan, Zelazo said.
Bradner said the city has been supportive of the project, which he said could take between two to three years to complete. Bradner added that Peregrine has made an initial offer to buy the property from the city for approximately $1.5 million, but that’s contingent upon discussions with the city.
“Pawtucket has been very aggressive in trying to make things happen,” Bradner said.
Grebien, in his letter to the City Council, wrote that financing options such as tax stabilization and tax increment financing were explored in this process.
“This property, long considered a vital economic development priority for the city, will finally be transformed into a beautiful mixed-use development with river views and public access,” Grebien wrote.
Zelazo said in addition to city approval, the project also will undergo a permitting process with the state Department of Environmental Management. Ground is expected to be broken in 18 to 24 months.

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