Two bits of news last week shone a spotlight on the former Interstate 195 land in Providence, and in one case, what was illuminated was not flattering.
The good news concerned the submission of a proposal to build a 1 million-square-foot, mixed-use, life sciences project on two parcels near the proposed Pawtucket Red Sox stadium site. This project is exactly what Gov. Gina M. Raimondo and company are looking to attract to the area. It plays off the intellectual firepower located there, while injecting more activity into the street-level feel of the neighborhood.
The less-than-flattering news concerned the vote of the Interstate 195 Redevelopment District Commission to grant a third extension to a Dallas-based developer to reach a tax-stabilization deal with the city that would facilitate the creation of a $50 million student-housing project on a separate parcel.
The developer is experienced and successful. But he should not be expected to wait around until the city decides it is good and ready to come to an agreement.
Previous PBN reporting has shown that developing in the city does not happen in as great a volume (or speed) as in other cities. At issue is the unpredictable nature of dealing with the city bureaucracy, as well as the low return on investment here.
If Providence wants to see the I-195 corridor remain fallow for decades, by all means, it should stay on a business-as-usual course. But if it wants to create something positive, then it needs to start making things happen. Now. •