PROVIDENCE, RI?- In the lead-up to his 2025 State of the State Address, Governor Dan McKee and the I-195 Redevelopment District Commission are highlighting the significant progress made in 2024, including the start of construction on the 195 District Park Pavilion, the closing on a new mixed-income housing development, and the ongoing construction of the 200,000-square-foot life science complex, which will include the new state health lab, private lab space, and a life sciences incubator funded in part by the 195 Commission.

"2024 was a year of action for the 195 Commission, as significant progress was made on our new State Health Lab and other key infrastructure projects,” said Governor Dan McKee. “Now more than ever before, it’s vital we maintain this momentum so that we complete this work, which will bolster the economy and support the health and well-being of all Rhode Islanders.”

“We hit our stride in 2024 and the 195 District is continuing to grow as a destination for businesses and Rhode Islanders who are looking for a great place to live, work, and play,”?said Marc Crisafulli, Chair of the I-195 Redevelopment District Commission.?“Our progress would not be possible without the work of this administration, and we truly appreciate Governor McKee’s efforts, particularly in moving our life sciences projects forward.”

195 District by the numbers: 

• 13 projects totaling 2.1 million square feet have been completed, planned, or are under construction.
• Approximately 1,000 new housing units were built or are in the pipeline, with another 1,000 units planned within five years.
• The Cambridge Innovation Center at Point225 is currently 87% occupied by more than 240 client companies – and more than 30 of them are in the wind energy space.
• Over 150 events were held in 195 District Park in 2024, including the Providence Flea, which relocated to the park in May of 2024.
• Over 1.7?million visits were made to the 195 District Park in 2024.

195 District highlights in 2024 include:

• Construction began on the 195 District Park Pavilion, a facility that will feature year-round dining operated by the Guild PVD in partnership with Seven Stars Bakery, as well as public bathrooms and support space for park operations. In addition to the approximately 3,200-square-foot building, the project will include infrastructure upgrades to the park including Wi-Fi service, grading and drainage improvements, and electrical upgrades.
• Construction continued at 150 Richmond Street, the future home of the Rhode Island State Health Lab and PVD Labs. The 195 District marked several development milestones on this project in 2024 and the building continues to be on track for completion in 2025. In collaboration with the Rhode Island Life Sciences Hub and Brown University, the 195 Commission is providing startup funding for Ocean State Labs, a 29,000-square-foot state-of-the-art biotech and medical incubator currently under development by Ancora L&G on one floor of 150 Richmond Street.
• The I-195 Redevelopment District Commission received a record nine proposals for the development of Parcel 5. Finalists were selected and a preferred developer will be selected in early 2025.
• The 195 District joined Brown University and Wexford Science & Technology to mark the new research laboratories now open at Point225. The event featured a panel discussion, research talks, and laboratory tours, highlighting the cutting-edge research being conducted by Brown faculty and students. With the entire sixth floor of the building designed for both individual and team discovery, the new laboratories are providing start-of-the-art space and technology for researchers in Brown’s Center on the Biology of Aging, the new Brown RNA Center, and biomedical engineering.
• The I-195 Redevelopment District Commission launched an innovative financing initiative, the?Ground Floor Commercial Space Improvement Loan Program, which will support the tenancy of ground floor commercial spaces in and adjacent to the District. The program will provide below-market interest rate loans to building owners to reduce the cost of the initial fit-out of commercial spaces. This will lower the cost of occupancy to tenants and make the spaces more attractive to businesses.
• The real estate company Pennrose closed on Phase 2 of its Parcel 9 mixed-income housing development. The first phase will be completed in early 2025 and includes 66 mixed-income units, a childcare center, a retail space, a public plaza and playground, and resident amenity space.