This agreement provides up to $19 million in reimbursements for public infrastructure improvements supporting the Providence Square redevelopment. The project includes 225,000 square feet of commercial space, 125 townhome units, and 879 market-rate multifamily units, with 108 units reserved for affordable housing. Public improvements feature enhanced connectivity, greenways, and parkland. The reimbursement is funded through a 15-year, 45% Tax Increment Grant (TIG) and includes income restrictions for affordable units.
This decision promotes sustainable mixed-use development, enhances public infrastructure, and supports affordable housing in a rapidly growing area.