Financing Plan Approved for Rhode Island Stadium Project, New Renderings Unveiled
TAMPA, Fla. – The Rhode Island Commerce Corporation Board of Directors on Friday approved a financing plan for the Pawtucket Tidewater Landing development project, the centerpiece of which is set to be a new soccer-specific stadium which will become the future home of a USL Championship club.
The public investment will be centered on public infrastructure improvements and not on the stadium itself, which will be privately financed. The venue will be a minimum 7,500-seat capacity but may be designed to accommodate up to 11,000 seats. The investment is expected to more than pay for itself and is slated to be the largest economic development project in Pawtucket’s history, with the overall $284M project being developed by Fortuitous Partners set to take place across 25 acres on six parcels on both sides of the Seekonk River. The project was approved by the Commerce Corporation Investment Committee on Thursday.