Description
The I‑195 Redevelopment District Commission is seeking a qualified developer (or development team) to submit a comprehensive mixed‑use development proposal for Parcels 8 and 8A, two adjacent sites in the 26‑acre I‑195 Redevelopment District in Providence, RI. The proposal must integrate both parcels into a single financially viable project that aligns with the District’s “innovation district” mission, includes high‑quality architectural design, street‑level activation, and may incorporate residential, commercial, institutional, hospitality, or research/knowledge‑based uses. Submissions must include a detailed narrative, design concepts, program tables, a confidential Excel pro‑forma, background‑check release, and references. Financial commitments include a minimum $1 M purchase price per parcel, a $100 k non‑refundable deposit after due‑diligence, escrow and application fees tied to construction cost, and an ongoing park‑maintenance assessment. The Commission will evaluate proposals on mission alignment, design quality, affordability, team experience (including diversity), and financial feasibility, with a decision expected in summer 2026.
• Submit hard‑copy (4 copies) and electronic proposal package by 4 PM, 24 April 2026.
• Required financial commitments: $1 M minimum purchase price per parcel, $100 k deposit, escrow ($25‑$75 k) and application fee ($25‑$75 k) based on construction cost tier.
• Deliverables include narrative overview, design and site‑plan graphics, program tables, sustainability plan, detailed pro‑forma, and background‑check release.
• Evaluation criteria emphasize design excellence, alignment with the innovation‑district mission, inclusion of affordable/workforce housing, team diversity, and demonstrated financial capacity.