PROVIDENCE, R.I. (AP) — Developers of a proposed technology innovation building in Providence have been awarded more than $20 million in state incentives.
The I-195 Redevelopment District Commission on Monday night approved the funds to developers of the Wexford Science & Technology complex.
The Baltimore-based Wexford and developer CV Properties LLC, are proposing a 191,000-square-foot facility that would break ground in 2017. It's expected to cost $150 million to build.
The Providence Journal reported the developers have two secured major tenants for proposed innovation facility: the Cambridge Innovation Center and Brown University's School of Professional Studies.
The facility is part of a $150 million project that would also include an Aloft hotel. The development is proposed on acres of land freed up by the relocation of I-195 south of downtown.