Pawtucket’s Redevelopment Agency has engaged Sterling Project Development to assist in the preparation for ancillary development around the proposed ballpark at Slater Mill and throughout the downtown district.
Sterling Project Development has extensive experience with sports and entertainment venues and development projects around them, including: Titletown development area around Lambeau Field, Citi Field home of the New York Mets and surrounding Willets Points, Target Field home of the Minnesota Twins, and mixed-use development around the Sacramento Kings arena. Their work also extends to public-private partnerships, commercial and residential projects, such as Time Inc., Bloomberg and Buzzfeed headquarters, the Brooklyn Navy Yard and other projects around the country.
Pawtucket is fired up and ready to go. 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.
The opportunity exists to attract private sector investment into the downtown and riverfront to further build upon the momentum created with the future Ballpark at Slater Mill and the train station development. SPD will provide technical assistance as Pawtucket moves forward with this important project.
Across the nation, stadiums have been built and renovated as centerpieces of urban revitalization and a way of energizing cities. Columbus (OH), Birmingham (AL), Toledo (OH), 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% of the project cost and taking on all construction cost overruns. In addition, the team will develop 50,000 s/f by the end of the first-year in a new ballpark, which will accelerate other development projects in the immediate area.
Governor Raimondo, Lt. governor McKee, treasurer Magaziner, attorney general Kilmartin, senate president Ruggerio, senate finance committee chair Conley, Pawtucket senators Nesselbush, Crowley and Cano – as well as a supermajority of senators in the Rhode Island Senate – seven mayors, as well as the Pawtucket City Council and the city’s PRA 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.
I look forward to continuing to move Pawtucket forward.
Donald Grebien is mayor of the City of Pawtucket, R.I.