With Pawtucket’s Centreville Bank Stadium nearly open -- Rhode Island FC plays its debut USL Championship match at the $130M stadium on May 3 -- Rhode Island FC owners Fortuitous Partners announced today that the second phase of their Tidewater Landing project will be developed with national real estate companies Wood Partners and Pennrose.
The project’s second step will deliver market-rate and affordable housing, and public amenities and commercial spaces near the stadium, which sits on the Seekonk River. New England regional financial institution Centreville Bank was announced last week as the stadium’s naming rights partner.
Centreville Bank Stadium’s design left it open to the Seekonk River, which the club and its owners plan to activate on match days and for other events hosted at the 10,500-capacity venue. Having residents on both sides will help those efforts and Fortuitous Partners founder and partner Brett Johnson has mentioned in the past plans to build a pedestrian bridge crossing the river.
Wood Partners will develop two residential buildings, one on each side of the river just south of downtown Pawtucket. The east side building (across the river from the stadium) will be developed first and include roughly 300 market rate units, while the west side building next to the stadium will have 250 units and commercial space fronting the new stadium plaza and riverfront. Atlanta-headquartered Wood Partners owns more than 80 properties nationally, representing more than 25,000 units.
And Penrose will develop 72 mixed-income housing units on School Street on the east side of the river, across from the stadium. That project is being reviewed for state and federal tax credit funding through Rhode Island Housing.
