We welcome the news that Providence and the state are working together on the development of the downtown land being freed up by the moving of Interstate 195. It is a vast improvement over the ongoing court battle being waged over the five-acre Providence harbor parcel.
As we have noted, the 40 acres currently covered by the interstate represent an extraordinary opportunity. The waterfront land sits between the increasingly appealing Downcity and Jewelry District areas, which have been attracting new businesses and residents for years.
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But in moving forward, developers and community leaders must wrestle with providing the proper mix of commercial and residential uses. The adaptation of commercial real estate in downtown has gone a long way toward making downtown more livable.
Second, the city must take full advantage of the waterfront – the availability of fresh land along the Providence River puts the city in a very enviable position.
And lastly, as much as the city values Brown University, Lifespan and all of our vital nonprofits, it must come to an equitable agreement that will not put the city at a financial disadvantage as more of the land falls under tax-exempt status. •
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