PAWTUCKET – Fortuitous Partners has selected Providence-based Dimeo Construction Company as the construction managers and general contractors for the Tidewater Landing stadium project, following a competitive request for proposals bidding process.
The stadium will break ground this fall and be completed in 2023, one year later than the 2022 opening that was once announced, say those behind it.
“Fortuitous Partners is excited to advance to the construction phase of Tidewater Landing,” said Brett Johnson, founder of Fortuitous Partners. “We could not be more excited to make Tidewater Landing a reality for Pawtucket, the Blackstone Valley and Rhode Island.”
Dimeo Construction Company has local roots here in Rhode Island and New England, as well as national expertise in complex construction projects, said Johnson.
“We are looking forward to working with them to transform Pawtucket’s riverfront and create thousands of jobs and hundreds of millions of dollars of positive social and economic impact.”
“We are thrilled to join the Fortuitous Partners team and honored to lead the construction of the critical stadium project at Tidewater Landing,” said Brad Dimeo, president of Dimeo Construction Company. “This development offers a once in a generation opportunity for catalytic economic transformation, and will bring professional soccer, along with countless other sports and entertainment options to our state.”
National Grid has been doing ongoing site work at the planned stadium site, an effort that officials have said has gone about as expected. Some local approvals around the site plan are expected over the next month or so.
“The Tidewater Landing development is a great example of the benefits of a public-private partnership,” Dimeo said. “We are excited to be part of the construction team for the new stadium and confident the project will be transformational for the city of Pawtucket and all of Rhode Island for decades to come.”
The multi-use stadium, designed by ODELL in association with JCJ Architecture, will be home to Rhode Island’s new United Soccer League Championship soccer club kicking off in 2023. The stadium, on Pawtucket’s riverfront, will also include restaurants, retail space, and public plazas to enhance the fan and visitor experience.
The initial phase 1 will consist of a mixed-use development of 435 residential units with a 150-space garage, 60,000 square feet of commercial space, 56,750 square feet of retail and restaurant space along with the stadium and its accompanying 750-space parking garage. The stadium will contain a minimum of 7,500 seats and may be designed to accommodate up to 11,000 seats.
Phase 1 will also include infrastructure and public space improvements, including the development of more than 4,000 linear feet of riverwalk and a pedestrian bridge across the Seekonk River. Also included in Phase 1 will be utility and stormwater improvements, roadway and streetscape improvements, off-site infrastructure improvements, surface parking and public plaza spaces. Phase 2 will likely consist of an indoor entertainment and event venue, as well as a hotel.
New revenues from the city and state are planned to go into public infrastructure improvements.
Dimeo Construction Company operates throughout New England as construction managers and general contractors and is ranked among the top builders in the nation by Engineering News Record. Its work includes such projects as the University of Rhode Island’s new Colleges of Engineering, General Dynamics Electric Boat production facilities at Quonset, the new Citizens Bank Johnston campus, Rhode Island Rapid Response Hospitals, and Hasbro Children’s Hospital renovations among other projects.
The more than $284 million Tidewater Landing project, developed by Fortuitous Partners, will be built on six parcels on both sides of the Seekonk River consisting of two sites covering 25 acres of property. Both the Tidewater site on the western side of the river and the Division Street site will be developed in two phases. The project will support more than 2,000 direct and indirect construction jobs and 940 direct and indirect ongoing jobs, according to the developer.
In February, the R.I. Commerce Corporation Board of Directors approved a financing plan for the Tidewater Landing, with public investment centered on public infrastructure improvements and not the stadium itself.
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According to officials, the investment is expected to more than pay for itself and is slated to be the largest economic development project in Pawtucket’s history.
The General Assembly passed legislation in 2019 to enable this type of economic development project for downtown Pawtucket to be viable.
The state in February approved:
• The use of defined district-specific revenues to enable financing a $36.2 million (combined city and state) Super TIF (Tax Increment Financing) bond as outlined in the General Assembly’s enabling legislation.
• And an investment in the form of a rebate on sales and use taxes related to construction materials on the project and Rebuild Rhode Island Tax Credits estimated at up to $14 million ($10 million net)
The public’s share (state and city combined) of the project’s cost is about 17 percent, or $46.2 million. As agreed upon by the state, city and Fortuitous, the public parties will not be required to increase incentive amounts as a result of cost overruns.