Revitalization of former power station to generate hundreds of new jobs and millions of dollars in economic stimulus and tax revenue


Providence, RI – December 16, 2014 – (RealEstateRama) — Governor Lincoln D. Chafee, Senator Jack Reed, Mayor Angel Taveras, House Speaker Nicholas A. Mattiello, Senate Majority Leader Dominick J. Ruggerio, Brown University President Christina Paxson, Rhode Island College President Nancy Carriuolo and University of Rhode Island President David Dooley joined developer Richard Galvin, Governor-elect Gina Raimondo, Mayor-elect Jorge Elorza and other officials today for a ceremonial groundbreaking of the South Street Landing Project.

The multi-million dollar project will house the Rhode Island Nursing Education Center, Brown University offices, graduate student housing and a parking garage. More than 200 guests joined the elected leaders in celebrating the project as it moves closer to actual construction, which is expected to start in early 2015.

“Today’s groundbreaking is an exciting milestone in this historic project,” said Galvin. “However, the more significant development to be celebrated today is the unprecedented cooperation and partnership among our elected leaders, and public and private institutions of higher education that made the South Street Landing project possible.”

The three college presidents hailed the increasing collaboration under way between their respective institutions and underscored the important economic contributions their schools are making to the state’s economy.

The project is expected to create 500 construction jobs, 375 indirect jobs and generate $5 million in income and sales tax revenue for the State during construction. The project will also generate $5.4 million in net new property taxes for the City of Providence over the next 10 years along with an estimated $2.5 million in permitting and inspection fees over the course of construction.

The Nursing Education Center used by RIC’s and URI’s nursing programs is expected to advance Rhode Island’s role as a regional leader in healthcare and nursing education.

Governor Lincoln D. Chafee said, “This project encompasses education, infrastructure and workforce development—the building blocks of a good economy. The Nursing Education Center will allow public and private institutions of higher learning to partner and forge a path to advance Rhode Island as a regional leader in nursing education. I am proud of the collaborative efforts that have led us to this point, and look forward to the many jobs and opportunities ahead.”

Speaker Mattiello said, “The Nursing Education Center will certainly play a role in the economic recovery of our state. The training that our future nurses and health care professionals will receive at this first-class facility will open the door for good-paying job opportunities. I am so pleased that the state has made this investment in support of three great institutions of Brown, URI and RIC to make this groundbreaking possible.”

Said Majority Leader Ruggerio, “This is an important investment which will pay dividends in many ways. It will preserve a city landmark which is a gateway to the 195 redevelopment district. It reuses a distinctive building in a way that helps Rhode Islanders prepare for the nursing jobs of tomorrow in a state-of-the-art facility. It puts the construction industry to work, and ideally will jumpstart the revitalization of the Davol Square area. It represents a true partnership among higher education institutions, the city, state, and federal governments, and it will help to support economic development efforts in Providence and across Rhode Island.”

Other members of the General Assembly attending the event were Rep. Raymond E. Gallison Jr. (D-Dist. 69, Bristol, Portsmouth), Chairman of the House Committee on Finance; Rep. Grace Diaz (D-Dist. 11, Providence); Rep. Kenneth A. Marshall (D-Dist. 68, Bristol, Portsmouth); Rep. Patricia A. Serpa (D-Dist. 27, West Warwick, Coventry, Warwick); Rep. Lisa P. Tomasso (D-Dist. 29, Coventry, West Greenwich), and Sen. Joshua Miller (D-Dist. 28, Cranston, Providence).

Other elected leaders and officials participating in today’s events offered the following statements on the South Street Landing Project:

Providence Mayor Angel Taveras: “South Street Station represents a true public-private partnership, bringing together three universities, the state, the city of Providence, a private developer, and National Grid to transform an old power station into a critical asset for Providence’s growing meds and eds economy. Together with the Brown University’s medical school, Johnson & Wales University’s physician assistant school, and our surrounding hospitals this new joint nursing school will help to further solidify Providence as a center for health, education and research. This is a collaboration we can all truly be proud of.”

Brown University President Christina Paxson: “Reaching this important milestone in this highly complex project has required the commitment and tenacity of our private and public sector partners. Today, we set the stage to transform a staggering liability into a gleaming asset, providing opportunities for meaningful academic connections that will have lasting benefits for our institutions, our city and our state.”

URI President David M. Dooley: “This day is a testament to the dedication and commitment of RIC, Brown University and URI, state and city leaders, Dick Galvin and his team, and other members of the Rhode Island community.”

Rhode Island College President Dr. Nancy Carriuolo: “Rhode Island College is proud to collaborate on this historic collaboration between the public and private sectors. South Street Landing, and in particular the Rhode Island Nursing Education Center, will help our state grow the educated workforce it needs to meet the changing needs of its number-one industry sector: health care.”

Governor-Elect Gina M. Raimondo: “The South Street Landing Project brings together some of Rhode Island’s best assets to create jobs and opportunity. This project embraces our competitive advantages while fostering our entrepreneurial spirit. I appreciate the effort that has gone into making this groundbreaking a reality and look forward to seeing it through to completion as governor.”

Providence Mayor-Elect Jorge O. Elorza: “I applaud Mayor Taveras for his foresight in identifying this project among his top economic development goals. As Mayor, I look forward to working closely with every stakeholder in this important project to ensure South Street Landing delivers on its great promise to create jobs, catalyze development of the 195 land, and grow our knowledge economy.”

For more information, contact:
Larry Berman, Communications Director for the Office of the Speaker
State House Room 331A
Providence, RI 02903
(401) 222-2466

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