Plans Canceled for $70M Development Featuring New BankRI HQ in 195 District

According to the Providence Business News, plans for a $70 million development project on former Interstate 195 land in Providence, anchored by a new headquarters of Bank Rhode Island, have been halted. The project, which was to include 58,000 square feet of office space for the bank, faced challenges due to higher interest rates and rising construction costs. This decision impacts Parcels 8 and 8A, which were intended for the headquarters development.

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