One of the Largest Developments in Providence in a Decade Moves Forward - $27M
Tuesday, September 20, 2016
One of the largest proposed residential development projects in years came before the I-195 Commission on Monday. This is one of the few new development residential project proposed in Providence in more than a decade.
Chestnut Commons is a 116,000 square foot mixed-use, but primarily residential development in the Jewelry District.
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It is the second phase of Waldorf Capital Management’s redevelopment of the gateway location entering the neighborhood.
“The development brings a vibrant, dynamic mix of modern residential, urban streetscape retail, and open green space to the corner of Chestnut Street and Friendship Street,” said the development team in its presentation.
Zachary Darrow, founder and CEO of Waldorf told GoLocalProv.com in a phone interview on Monday night, “This is a substantial investment of private funds in Providence. In total this is a $27 million project and will be transformational to this area of Providence.”
Details of the project
• Chestnut commons is an approximately 116,450 SF mixed-use development that will include
• 89 modern residential housing units, comprised if 1- and 2-bedroom units
• Approximately 6,000 square feet of streetscape retail
• Approximately 30 covered parking spots, and
• Over 5,000 square feet of open green space
“We are pleased with the process and believe this is a great addition to the I-195 development," said Darrow.
