General Assembly OKs bill to facilitate I-195 project
STATE HOUSE — The General Assembly today passed legislation to alter the boundaries of a parcel within the I-195 Redevelopment District. The change is necessary in order for a potential construction project to move forward.
President of the Senate Dominick J. Ruggerio (D – Dist. 4, North Providence, Providence) and House Majority Leader K. Joseph Shekarchi (D-Dist. 23, Warwick) sponsored the legislation, (2018 S-2556, 2018-H 8356).
New York developer Jason Fane has worked with the I-195 Redevelopment Commission on a proposal to construct a 46-story high-rise tower on Dyer Street. The proposal, known as Hope Point Tower, represents a reported investment of about $250 million by the developer.
The envisioned parcel reconfiguration would allow for greater depth and better positioning of the project in order to allow access and visibility for the proposed building from Dyer Street. The Commission has worked with The Fane Organization to develop a preliminary site layout.
The Federal Highway Commission has confirmed that the envisioned parcel change complies with other necessary land use limitations in the vicinity. The legislation amends the enabling statute so that the I-195 Redevelopment Commission can make the change needed for the construction project to proceed.
The measure now moves to the governor’s office.
For more information, contact:
Daniel Trafford, Publicist
State House Room 20
Providence, RI 02903