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Development Consultant Onboard to Accelerate Development Around the Ballpark at Slater Mill

Development Consultant Onboard to Accelerate Development Around the Ballpark at Slater Mill

City and Pawtucket Redevelopment Agency Introduce Sterling Project Development

  

PAWTUCKET – The Pawtucket Redevelopment Agency (PRA) today voted to engage Sterling Project Development to assist in the preparation for ancillary development around the proposed Ballpark at Slater Mill and throughout the downtown district. The PRA issued a request for proposals last month seeking qualified consultants to assist the Agency and the City of Pawtucket as they work to maximize the development potential in Pawtucket’s downtown and riverfront district

 

“The PRA received a number of great proposals,” said Roger Lemoie, Chair of the Pawtucket Redevelopment Agency, after the vote. “We were blown away by Sterling’s presentation and their thoughts about how they can build upon the groundwork we’ve already laid. They really got Mayor Grebien’s vision and the PRA Board is confident that they will be excellent partners to assist us in attracting large-scale development.”

 

The opportunity exists to attract private sector investment into the Slater Mill area and riverfront to further build upon the momentum created with the future Ballpark at Slater Mill and the train station development. Sterling Project Development will provide technical assistance as Pawtucket moves forward with this important project.

 

“We're fired up and ready to go,” said Mayor Donald Grebien. “I've had the opportunity to review the presentations and speak with members of the evaluation team, and it’s clear that Sterling is all in on Pawtucket. They see the value and they're ready to help us make the Ballpark at Slater Mill an incredible success for Pawtucket, the Blackstone Valley and all of Rhode Island. Sterling has a great record working on development projects that serve as centerpieces of revitalization and energize cities. We look forward to working with the PRA and Sterling to move our great city forward.”

 

“Sterling’s proposal really exceeded all of our expectations,” Jeanne Boyle, Commerce Director for the City of Pawtucket, said. “We know this is a special project, and clearly this nationally and internationally recognized firm has an equal level of excitement about and confidence in this once-in a lifetime opportunity to revitalize Pawtucket’s downtown and riverfront.”

 

“Sterling Project Development is honored to have been selected to work with the Pawtucket Redevelopment Agency and the City of Pawtucket on their planning and development efforts. We look forward to working with the PRA and other stakeholders in putting forth a clear and comprehensive framework for the redevelopment of Pawtucket’s downtown and riverfront,” said Michael Cantor, Senior Project Advisor with Sterling Project Development.

 

“We made the decision to make Pawtucket our home because we saw an opportunity to invest in the city and invest in the happiness of our employees,” said Michael Baker, President and CEO of Pet Food Experts, host for today’s event. “Keeping the PawSox in Pawtucket and reinvesting in a new stadium would not only pump new life into the area, but it would enhance the lives of the residents and professionals that call Pawtucket home.”

 

Across the country, stadiums have been built and renovated as centerpieces of urban revitalization and a way of energizing cities. Columbus (O.H.), Birmingham (A.L.), Toledo (O.H.), and Durham (N.C.) are prime examples of redevelopment projects anchored by a minor league ballpark that led to public benefits such as increased revenue, jobs, and investment in their host communities. The public-private partnership between the State, the City, and PawSox continues that successful model, and flips the industry financing standard on its head with the team investing over 50 percent of the project cost.

 

“The Ballpark at Slater Mill, proposed more than a year ago, is part of the City’s goal for the revitalization of our downtown,” said Janet Marie Smith, PawSox Advisor on Planning and Development. “We remain inspired by the vision of Mayor Grebien, and hope that this step, in addition to the scheduled transit-oriented development, will result in growth and vibrancy for the Blackstone Valley and downtown Pawtucket.”

 

Mayor Grebien added, “Governor Raimondo, Lieutenant Governor McKee, Treasure Magaziner, Attorney General Kilmartin, Senate President Ruggerio, Senate Finance Committee Chair Conley, Pawtucket Senators Nesselbush, Crowley and Cano – as well as a supermajority of their colleagues in the Rhode Island Senate – Mayors Diossa, Murray, Lombardi, Polisena, Avedisian, Baldelli-Hunt, and Elorza, as well as the Pawtucket City Council and the Board of the Pawtucket Redevelopment Agency all support this opportunity that can’t be ignored. Pawtucket’s riverfront and downtown district is as critical to our state’s future as the 195 land in Providence. Together, we can continue to move Rhode Island forward by investing in our local communities and the quality of life amenities that help make our state so great.”

 

The Senate’s legislation authorizing the Ballpark at Slater Mill project is currently being reviewed by the House of Representatives and the House Finance Committee. Antonio J. Pires, recently retired Director of Administration for the City of Pawtucket and former House Finance Chair concluded, “If the General Assembly does not take action this legislative session, they will be pushing the PawSox out of Rhode Island. The Blackstone Valley should not be discounted or discarded by the General Assembly. Missing out on this development opportunity and losing the PawSox would be one of the most significant losses to our great city and state in my lifetime.”

 

Background on Sterling Project Development:

Sterling Project Development (SPD) is a full service development management and advisory firm with local, national, and international experience across all project types. The company is currently involved in more than $15 billion of development projects throughout the United States and Europe.  SPD is an affiliate of Sterling Equities, a 50-year-old real estate owner/manager and developer based in New York. SPD. They will provide technical assistance for this important project, including: defining the project goals; presenting a variety of scenarios for land-development structures and identifying opportunities for experiential retail and commercial spaces for innovative firms; identifying incentives for private investment; reviewing and assessing timelines for construction and development; making project recommendations; and other services.

 

Sterling has experience working on development projects that serve as centerpieces of revitalization and energize cities, such as Citi Field home of the New York Mets and surrounding Willets Points, Target Field home of the Minnesota Twins, Titletown development area around Lambeau Field, and mixed use development around the Sacramento Kings arena.

 

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