Among the project’s major features are rich gardens and landscaping, designed to maximize climate resiliency at the elevated site areas. The top of the building includes a green roof and rooftop amenity deck. The proposed residential project would have immediate economic benefits, including the creation of 375 construction jobs and nearly 30 permanent jobs.

The broader long-term master plan would incorporate the 198-200 Dyer St. site owned by Brown, currently home to a two-story building used for administrative offices and parking. Bundling the Brown site with Parcels 14/15 offers the potential to create more than 500,000 square feet of total development in phases, with over 400,000 square feet of planned commercial office and laboratory uses.

Together with the initial residential project and retail/restaurant uses, these uses would improve a currently underutilized site and create the potential for more than 1,500 additional construction jobs and 1,600 high-skill permanent jobs. The multi-phase commercial project would provide important tax revenue to Providence, support city and state development goals for the former I-195 land, and play a powerful role in advancing the economic well-being of the region and its residents.

For Brown, providing its land for CV Properties’ long-term master plan would add to $341 million in investments to date the University has made in the Jewelry District, which is now home to significant academic, research, administrative and residential space. Brown’s investments have brought new life to the neighborhood, sparked public-private partnerships that led to the development of its most prominent projects — including South Street Landing, developed by CV Properties in collaboration with Wexford Science + Technology — and helped to attract Ancora L&G, the Cambridge Innovation Center and many other private partners to the state.

“As a close neighbor to these 195 parcels, we recognize the opportunity they offer to create better connections between this growing area of Providence and public assets like the park and waterfront, enhance the value of the neighborhood for all who work, live, learn, play and relax in the area, and expand access to housing and jobs for Rhode Islanders,” said Russell Carey, executive vice president for planning and policy at Brown. “The 195 Commission has been an outstanding advocate for maximizing these spaces to improve the lives of local residents, and we look forward to the opportunity to play an additional role in achieving this important objective.”

CV Properties has successfully developed several projects in Providence, including South Street Landing and the IGT Building, and they recently opened Aloft Hotel, developed on land adjacent to the site for this proposed new project. The residential phase of the project would include design and construction partners Spagnolo Gisness and Associates (SGA) and Shawmut Design and Construction, who have developed other Rhode Island projects with CV Properties.