Our Focus: River
River/Roosevelt Ave Corridor Redevelopment
Pawtucket Foundation, Cities of Pawtucket and Central Falls to partner on ambitious riverfront development plan
January 25, 2012
(Blackstone Valley, RI) The Pawtucket Foundation, in partnership with the Cities of Pawtucket and Central Falls, is working collaboratively with property owners and local officials to catalyze future investment on the riverfront. “Thanks to private funding from a number of companies as well as The Rhode Island Foundation and Ocean State Charities Trust, The Pawtucket Foundation is prepared to allocate substantial resources to aid in the economic revitalization of the riverfront,” said Thomas Mann, executive director of The Pawtucket Foundation.
Earlier this year, The Pawtucket Foundation published an organizational strategic plan positioning the business-backed nonprofit to facilitate real estate predevelopment planning activities for mixed-use, retail and recreational use along the historic river and other strategic locations in the City.
“The City of Pawtucket is always looking for ways to unlock the great development potential of our riverfront,” said Mayor Donald R. Grebien. “We know there is a lot of untapped potential there that could be unlocked with the right type of investment, and my planning staff is working closely with our partners so we can brand our riverfront as the Gateway to Rhode Island and the Blackstone River Valley.”
Rhode Island Foundation President and CEO Neil D. Steinberg underscored Mayor Grebien’s enthusiasm for the project. “This is the kind of collaboration we like to support with our grantmaking,” he said, adding, “The study we are funding will help the Pawtucket Foundation and its partners decrease environmental hazards in the community while maximizing the economic development possibilities of these important riverfront land parcels.”
During the last several months, The Pawtucket Foundation and a team of public and private officials, including Gayle Corrigan and Stephen Larrick from the state-appointed receiver’s team in Central Falls, devised a strategy for a public-private venture to coordinate future private land development. The development potential is leveraged by $125M in ongoing transportation-related projects in the area, particularly along the Blackstone River and Roosevelt Avenue Corridor.
Since earlier this spring, The Pawtucket Foundation has been aggressively fundraising and organized a partnership including local government, property owners, Blackstone Valley Tourism Council, John H. Chafee Blackstone River Valley National Heritage Corridor and Slater Mill Museum. The Rhode Island Foundation awarded $38,000 while Ocean State Charities Trust contributed $3,000; other private contributions were also received. The City of Pawtucket is awaiting the outcome of a Statewide Planning Challenge Grant Application submitted jointly with Central Falls and The Pawtucket Foundation.
“With at least six significant sites within the project area primed for redevelopment or infill, the prospect of a new National Park creates the urgency to coordinate future investments,” said Michael Davolio, Director of Planning and Redevelopment at the City of Pawtucket.
The City of Pawtucket and Pawtucket Redevelopment Agency own or control four parcels that will be included in the predevelopment analysis. “This partnership creates a vehicle to look at how we best utilize the property the City controls,” said Davolio, “and we are appreciative of the private sector support to help lead and pay for this important planning work.”
Riverfront predevelopment efforts will likely involve market analysis, urban design, due diligence, environmental stewardship and a public private implementation phase that could potentially create a development district, a package of incentives and expedited permitting process for compatible projects and infrastructure improvements.