Providence, RI – The Rhode Island Commerce Corporation has approved a package of tax incentives for a $55.2 million hotel proposed for the I-195 Redevelopment District.
The new 6,300sf, seven story Aloft brand hotel – as part of the Wexford Innovation Complex – will provide 169 guestrooms.
The developer is CV Properties.
This district development looks to open up the Providence waterfront and signal the resurgence of technology and innovation in the city.
The project is expected to create 347 construction jobs and 118 permanent jobs, add $9.3 million to the state’s annual gross domestic product, and boost state revenues by $14 million over the next 10 years.