Ballpark project a boon
Real estate investor comments on PawSox project
BRISTOL – The cofounder of an East Providence-based real estate development firm told the Senate Finance Committee on Thursday night that if an investment made is made to the area surrounding the proposed PawSox ballpark site at the Apex department store, it will be developed.
If there is no new ballpark, Pawtucket stands to miss out a vital cycle that would further stunt the city’s economic growth.
“As pretty as the Blackstone River is, the Apex area is not. In fact, it’s a giant wasteland. Regardless if it’s a ballpark or not, something has to happen to get that condition changed because it’s the center of the city,” said Colin Kane at the Rogers Williams University Law School on Thursday night. “If something doesn’t happen, Pawtucket will continue to drift.”
According to Kane, a brand new $83-million ballpark would replace 75-yearold McCoy Stadium and serve as a catalyst to attract businesses. Kane told the committee that it’s distinctly possible to see upwards to 100,000 square feet of new investments around the area.
“In terms of construction, the ballpark has its own timeframe. But if that was a known quantity, the private market would respond pretty quickly, knowing that it was coming,” said Kane, formally the chairman of the I-195 Redevelopment District Commission. “The impact of this investment extends well beyond the parcels immediately adjacent to the ballpark. They would extend to Central Falls and include Division Street.”
Asked by Sen. James Seveney when it’s fair to expect the fruits of this potential development, Kane said that 8-10 years is the bestcase scenario.
“I’m confident in that schedule assuming the state of Rhode Island continues to be fiscally stable and it’s a decent economy,” said Kane.
As part of the proposed ancillary development, Kane said it’s important to see a population increase in downtown Pawtucket.
“We need to have people living there and working there,” Kane said. “That would also spur additional businesses to come in.”
Senate Finance Chairman William J. Conley Jr. broke up Kane’s hour-long testimony by saying, “Investment in great public spaces is important to our economic and cultural development.”
Pawtucket Redevelopment Agency chairman Roger Lemoie’s testimony included the agency’s full support of the PawSox proposal and an interesting tidbit. When the agency sold the Apex site in the late 1960s, the cost was $240,000. Lemoie explained that the PRA holds monthly meetings and is fully supported by the city’s planning and development department.
“Despite what the PRA has achieved for our businesses, our downtown area continues to decline,” Lemoie said. “The PRA is of the belief that the PawSox stadium project will successfully revitalize the downtown. It’s an exciting gateway project.”
Pawtucket Commerce Director Jeanne Boyle sat next to Lemoie and told the Senate Finance Committee that the city joining forces with the R.I. Convention Center, “certainly makes a lot of sense.” The topic was first broached at Wednesday’s hearing at New England Tech.
A total of 30 people addressed the committee during public testimony, which was once again limited to three minutes per person. Pawtucket resident John Arcaro concluded his testimony with “Let the people vote on it” – a sentiment that has been expressed with great frequency in recent weeks.
Of the 30 people who spoke, 24 were in favor of the proposal. John Rosado, a student at Classical High School, received a round of applause after his testimony. Jan Brodie, Executive Director the Pawtucket Foundation, told the committee, “Pawtucket needs this support to flourish.”
The sixth of seven scheduled hearings before the Senate Finance Committee will take place next Thursday at Bryant University at 6 p.m.