State considers $43.5 million project on Dexter Street

State considers $43.5 million project on Dexter Street

PAWTUCKET – The Peyser Real Estate Group LLC is seeking an award under the Rebuild Rhode Island Tax Credit program for incentives to aid its development of a $43.5 million mixed-use project at 71 Dexter St.

The latest version of the project, according to a Feb. 21 agenda item for the Rhode Island Commerce Corporation’s investment committee, calls for 20,000 square feet of retail space on the ground floor and 150 residential units above.

The subcommittee approved the project at that meeting and sent it to the full R.I. Commerce board, which is scheduled to vote on it today, Feb. 26, at 4:30 p.m.

The Peyser Group is seeking up to a maximum of $2 million in tax credits for the project.

The Breeze reported last October that the New Jersey-based Peyser was proposing a seven-story mixed project near the Lynch Arena and Centennial Towers, just around the corner from The Guild brewery and a coming new commuter rail station.

A master plan approved by the city calls for demolition of an existing cold storage warehouse and construction of the new structure, which would include structured parking.

The project is within the Conant Thread District, a special zoning district in Pawtucket and Central Falls surrounding the new train station.

At the time of last fall’s report, the project was calling for 25,000 square feet of ground retail space and more than 100 rental residential units.