Tech complex developers get $20M in state incentives

By: The Associated Press

news@abc6.com

PROVIDENCE, R.I. – Developers of a proposed technology complex in Providence have been awarded more than $20 million in state incentives.              

Democratic Gov. Gina Raimondo said Tuesday the new innovation center will be a catalyst for economic development.              

Two major tenants have already signed up to lease most of the future Wexford Science & Technology complex: the Cambridge Innovation Center, which offers workspace for startup entrepreneurs, and Brown University’s School of Professional Studies.             

The I-195 Redevelopment District Commission on Monday night approved the funds.              

The facility, proposed by Baltimore-based Wexford and developer CV Properties LLC, would break ground in 2017. It’s expected to cost $150 million to build.              

The complex would include an Aloft hotel. The development is proposed on acres of land freed by the relocation of Interstate 195 south of downtown.

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