Providence, Rhode Island seeks a public-private partner for master planning, feasibility, construction, and financing of an intermodal transportation center.
The Rhode Island Department of Administration, Division of Purchases, on behalf of the Department of Transportation (“RIDOT”) is seeking a master developer to partner with RIDOT to construct an intermodal bus hub and public parking facility near or adjacent to the Providence Train Station as part of a Transit Oriented Development (TOD) public private partnership (P3).
It is the intention of RIDOT to work in collaboration with a highly experienced firm to construct the Providence Intermodal Transportation Center (“PITC”) that includes a bus terminal and public parking along with a residential, retail, office, and/or commercial overbuilds/adjacent development.
RIDOT is interested in pursuing an aggressive timeframe for the project. In 2014, the voters of the State of Rhode Island approved a $35 million state bond to support the construction of transit hubs such as PITC. While RIDOT is open to a multi-phased approach, the near-term construction of the bus facility is an essential element of any initial phase. RIDOT has been charged with relocation of bus terminal facilities from their existing location at Kennedy Plaza to a site near or adjacent to the Providence Train Station.
While federal funds are being used for planning, RIDOT does not contemplate using federal funding for design and construction. The State of Rhode Island will be responsible for acquiring any real estate that is required
for the project.
To encourage Transit Oriented Development at the site, the State of Rhode Island recently established a number of economic incentive programs aimed at attracting new businesses to the state and encouraging economic development. These include tax credits for qualified new jobs, new development and Tax Increment Financing (TIF). Many of these programs offer transit specific incentives. Finally, the State of Rhode Island has an ongoing need to lease private office space to accommodate the state’s work force. Respondents should indicate the degree to which such tenancy could facilitate their participation.
In addition to state incentives, the City of Providence offers tax stabilization in the Capitol Center District where the train station in located. It is RIDOT’s intent that this Request for Qualifications (RFQ) serve as a pre-qualification for a future Request for Proposals (RFP) limited to those successful respondents to this RFQ.
The setting for this project is Providence, Rhode Island, a remarkable urban community that offers the perfect combination of stability and opportunity for the right developer willing to invest and partner with the State to build a transit-oriented development along the Northeast Corridor. Along with the unique assets of a growing innovation economy, historic residential and commercial neighborhoods, a high concentration of nationally recognized colleges and universities, an internationally acclaimed food and restaurant scene, vibrant cultural and arts destinations and abundant retail shops, the City is unquestionably poised to enter an accelerated phase of new development. Providence also offers a quality of life that will increase in demand as residents and businesses continue to be outpriced from cities like Boston and New York.
Submission Deadline: Tuesday August 30, 2016 at 11:00 am (Local Time)
Photo of Providence Station by Julio Berroa.