PROVIDENCE — The proposed new multi-purpose shoreline venue in city gained a boost from the state recently when it was one of 15 projects to receive monies through Governor Gina Raimondo’s Site Readiness Program.
Rhode Island Waterfront Enterprises in East Providence will have access of up to $100,000 for its effort to construct a mixed-use facility on the South Quay, which the company purchased in 2019.
The development on approximately 40 acres would include a permanent entertainment amphitheater to replace the temporary one currently being used by the company for its events schedule at Bold Point Park, a hotel, retail space and a dock for both commercial and recreational boating.
The Site Readiness Program grant will be used to conduct the planning study to analyze the potential for South Quay as a general port facility and how it can achieve a permanent position with ProvPort and coastal Rhode Island in the constellation of port facilities.
"I'm thrilled to announce the first round of our site readiness awards," said Governor Raimondo. "These projects will spur economic growth and make nearly 300 acres of land across our state ready for potential development."
The Site Readiness awards are allocating over $800,000 for projects across 11 municipalities. A total 22 entities applied for the program. The projects chosen were based on the readiness to proceed, the potential catalytic impact and the extent of additional private investments or matched funds are attached.
"We are very pleased that, across our state, eleven cities and towns will soon be unlocking economic activity through the Governor's new site readiness program," said Rhode Island Secretary of Commerce Stefan Pryor. "With a series of modest but important investments, this initiative is helping to prepare sites for a range of development -- from industrial to residential to wind energy-related projects. We thank Governor Raimondo for her leadership and the General Assembly for their support."