Ballpark at Slater Mill Already Generating Development Interest
PAWTUCKET ??? The City of Pawtucket announced that interest in the proposed public Ballpark at Slater Mill is growing. As the General Assembly considers its commitment to invest in the revitalization of Pawtucket, the proposal is already generating interest from private sector developers who have contacted the City about opportunities near and around the proposed site. This is the type of ancillary development that will breathe new life and new revenue into Pawtucket. These two development opportunities have the potential of generating an excess of $600,000 in new, annual revenue.
The Ballpark at Slater Mill is an opportunity to bring year-round entertainment and events, expand access to our waterfront and create a world-class destination to attract 500,000 visitors and patrons from around the country to our state. With that activity is the ability to draw hotels, restaurants, businesses, shops, and residential development. Pawtucket is an urban district with limited revenue growth potential without new development. The City needs the State to step-up to support this economic development project along with keeping the PawSox in Pawtucket.
???The Ballpark at Slater Mill is the catalyst that Pawtucket, the Blackstone Valley and Rhode Island need to continue to move forward,??? said Mayor Donald R. Grebien. ???Pawtucket is a business-friendly city and investors and developers are already expressing support for the ballpark project. However, the private sector cannot wait forever. They will look elsewhere to invest. That is why it is so critical that the General Assembly act prudently and expeditiously to enact the enabling legislation and move our great state forward.???
Mayor Grebien added, ???A $45 million private investment from the Pawtucket Red Sox to build a public park will ignite development, bring life back to Pawtucket and generate additional revenue for the state. These opportunities will not be realized unless we capitalize on this commitment.???
In addition to businesses and developers who have reached out informally, one developer has submitted a letter of interest expressing enthusiasm for the development climate in Pawtucket and their strong desire to move forward with a project on the Tidewater site if the ballpark comes to fruition ??? joining the PawSox and Peregrine Group who have already committed to the project development area. The City also expects a letter of interest in the coming weeks from another developer interested in constructing and operating a hotel proximate to the ballpark.
Churchill and Banks, a well-known developer, has expressed interest to explore residential development on the Tidewater riverfront property across from the Ballpark at Slater Mill. Another well-known, local hotel group has expressed interest verbally and committed to submit a formal letter of interest to open a hotel and restaurant on or near the ballpark property.