Officials in Pawtucket, Rhode Island, announced $30 million in lost cost financing for the city’s “Tidewater Landing” downtown waterfront development project.
The first phase of the Tidewater Landing project was split into two parts. Phase 1A included the $126 million construction of Centerville Bank Stadium, a 10,500-seat multipurpose stadium and an accompanying parking garage. The stadium is currently the home of Rhode Island FC and opened for use in May 2025.
The funding, sourced from the Rhode Island Infrastructure Bank, will specifically advance the project to the next phase. Phase 1B, according to city plans, will include the development of 435 residential units with a 150-space garage, 60,000 square feet of commercial space, and 56,750 square feet of retail and restaurant space. The new development will be interconnected by the construction of a new pedestrian bridge over the Seekonk River.
Plans also include stormwater and utility upgrades paired with improvements to lighting and landscaping in the areas of public riverwalk and recreational spaces.
Construction is expected to begin in September and will take several years to complete.
Overall costs for the complete project are expected to total more than $400 million and, in future phases, include the construction of an additional 300 housing units, a new indoor entertainment space and a hotel.
Photo by Quintin Soloviev, CC BY 4.0 https://creativecommons.org/licenses/by/4.0, from Wikimedia Commons
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