The City’s waterfront at present, represents one of the most exciting growth opportunities in the State of Rhode Island. Established by the State Legislature as a Special Waterfront District in 2003, the formation of the City’s Waterfront District has led to its transformation from an aged industrial waterfront into a burgeoning mixed use district with an emerging mix of commercial, residential and public open space opportunities that will surely redefine the City for decades to come. To learn more about the exciting opportunities for development within the City’s Waterfront District, visit the East Providence Waterfront District’s website at www.eastprovidencewaterfront.com.
For more information on our City's exciting waterfront opportunities, contact the Waterfront District Commission office at 401-435-7530.
Aspen Aerogels, a nanotechnology company headquartered in Northbridge, Massachusetts, selected a property in the Dexter Road sub-district of the Waterfront District as the site of its new manufacturing facility in 2005. Aspen spent $30 million to retrofit an existing 140,000 square foot industrial plant to meet the growing needs of its commercial, military and aerospace customers. Aspen is a leading manufacturer of high performance insulating materials and has expanded numerous times, both on- and off-site sites its establishment in East Providence. The recently completed new production line is Aspen’s first step in its long-term strategy to expand production capacity and increase the facility’s capacity by 25 percent to meet growing customer demand.
EATON AEROSPACE CORPORATION
Eaton Corporation, a critical manufacturer of components used in the aerospace industry, is currently leasing approximately 145,000 square feet of the existing 340,000 square foot building at 10 New Rd.
Eaton employs more than 200 people at its East Providence facility and expects to add an additional fifty new employees within the next 3-5 years. Eaton Corporation opened in the East Providence Waterfront District in May of 2013. In September 2013, Eaton “adopted” the new Oldham School in East Providence, providing volunteers and funding for on-going school projects. The East Providence Waterfront Development District Commission was awarded $5 million in funding from the US Department of Commerce Economic Development Administration for renovations to the building that houses Eaton. The funding was part of a pool of funding that Senators Reed and Whitehouse helped to create to assist RI businesses that were hurt by the floods that devastated Rhode Island in March of 2010.
Kettle Point is being developed by Kettle Point LLC on Veteran's Memorial Parkway in the Southern Waterfront District. The 40-acre site will have a total of 290 residential units: 228 for-rent apartment units, which will average one thousand square feet; and 62 for-sale, 3-bedroom residences in duplex townhouses that will average 2,100 square feet. There will be parking provided for the public to access the East Bay Bike Path, public open space, and direct access to the waterfront with a kayak launch. The $78 million project includes $8.75 million in public improvements and the site will be completely remediated.
Ross Commons has the distinction of being the first of the City’s waterfront projects to receive City and State permits, including approval from the Waterfront District Commission. The approximately $6 million project was developed by the Peregrine Development Group and New England Construction. The development project consists of 54 one and two bedroom condominiums, as well as 4,000 square feet of office space on four acres of land. Six of the condominium units are priced as “affordable,” as required by the Waterfront Development District Plan. The development is now fully occupied and helped to serve as a model for muti-family residential development projects in the Waterfront District.
SKY ZONE INDOOR TRAMPOLINE PARK
Jump City Providence, LLC is a 25,000 square foot indoor trampoline park located in an existing building at 70 Pawtucket Ave. It features linked trampolines for open jumping, fitness classes, corporate events, team play and birthday parties. Sky Zone has hired approximately forty-six full- and part time employees, including four managers. The project received approval from the Waterfront Commission and opened in December 2012. Since opening, Sky Zone has donated hundreds of free passes to local youth and community groups and has spent tens of thousands of dollars on services provided by other East Providence businesses.
TOCKWOTTON ON THE WATERFRONT
Tockwotton on the Waterfront is a 156-unit assisted living facility with the look and feel of a seaside resort adjacent to Bold Point Park in the southern portion of the Waterfront District. The $52.2-million nursing and assisted living center replaces its existing 140-year old building in the Fox Point neighborhood of Providence. The five-story structure has three components: an assisted living area, a separate component for residents with Alzheimer’s or impaired memory problems, and a skilled nursing care unit. The Tockwotton Home is 138,000 square feet and employs 100 people on a budget of $8 million. Construction was completed in January of 2013.
Please see the Tockwotton website www.tockwotton.org or call 401/272-5280 for more information.
University Orthopedics has been approved for an 82,500 square foot medical office building in the Waterfront District. The building, currently under construction will be located at Kettle Point on Veteran's Memorial Parkway and will consolidate several existing University Orthopedics Rhode Island offices. There will be approximately one hundred employees relocating to the new office building, with plans to add more workers in the future. The services offered will include outpatient doctor’s appointments, physical therapy, hand therapy, orthopedic urgent care, MRI, and outpatient surgery.
VILLAGE ON THE WATERFRONT/CHEVRON
Chevron Land Development Corp. is in the process of transforming Chevron’s former light products terminal on Veteran’s Memorial Parkway into a mixed-use community called “Village on the Waterfront.” The 26-acre site will have a mix of residential units and commercial uses.
The team is currently seeking permits from State and Federal agencies. VOTW also received assistance from the City through developer-backed tax increment financing (TIF).