PROVIDENCE – The R.I. Economic Development Corporation has hired Beta Group Inc. of Lincoln and (add)ventures of Providence to study and market the Warwick Station District near T.F. Green Airport in Warwick.
Beta Group will be paid $100,000 by the quasi-state agency for a market study of Warwick Station to determine where the strongest demand for the 95 acres of land near the airport is likely to come from.
The firm has already begun work on the study and is expected to deliver a first draft to the state by the end of February. CWS Consulting Group LLC of Newton, Mass. and The Williams Group of Amherst, Mass. are working with Beta Group on the market study.
The analysis will be used by (add)ventures to create a marketing plan for the district – due by the end of April - and then begin implementing it.
The (add)ventures contract is worth $296,000.
Funding for the two contracts comes from a $400,000 Federal Highway Administration grant awarded last April.
State and city leaders hope the Warwick Station district land can be developed into a 1.5-million square foot “urban village” with a mix of commercial and residential uses.
“Warwick Station is one of the state’s key infrastructure and transit-oriented economic growth centers,” said Gov. Lincoln D. Chafee in a news release. “Identifying the best ways to market the development opportunities that exist there is an important building block as we collaborate to form a mixed-use, intermodal gateway to Rhode Island and New England.”