One of the biggest development projects in the history of Pawtucket, Rhode Island, appears to have cleared its last economic hurdle due to the generosity of a “mystery millionaire.”
After struggling to completely fund Tidewater Landing — a $284 million mixed-use complex with a $124 million soccer-specific stadium at its center — an unidentified multi-millionaire investor has guaranteed to financially back the stadium’s completion, according to the Providence Journal.
Investment firm Fortuitous Partners has already invested over $30 million in private money into the project.
Tidewater Landing’s stadium will eventually be home to Rhode Island FC, scheduled to begin playing in the USL Championship in 2024. Because Tidewater will not be complete by then, the club will play its inaugural season at Bryant University’s Beirne Stadium.
The stadium will have at least 10,000 seats and be used for concerts and other community gatherings.
The complex will cover 25 acres on both sides of the Seekonk River, connected by a pedestrian bridge. The east bank across from the stadium will feature new shops, restaurants, office space, and 200 apartments.
New public transit is also part of the plan, with a $63 million Pawtucket/Central Falls Transit Center going in for easy access to the stadium. There will also be riverfront trails for walking, running, or biking.
It’s unclear when the project will be complete, but the first construction phases are underway.
