New Markets Tax Credit Coalition

Search

Providence Public Library

Providence Public Library used NMTC financing a $25 million renovation of its library in Providence.

Investment

  • NMTC Amount: $15,500,000
  • Total Project Cost: $25,000,000

IMPACT

  • 80 FTE jobs
  • 144 construction jobs
  • 83,000 sq. ft. of real estate

Investor

Project Description

Providence Public Library announced Sept. 13 $4.2 million in NMTC equity and $1.6 million in C-PACE financing for the $25 million renovation of the Providence Public Library, in Providence, R. I. Funding addresses required life safety systems upgrades while making major infrastructure improvements to downtown buildings. The 83,000-sq. ft. project transforms the library’s 1950s wing, auditorium and special collection areas to provide 21st-century library services.

MAP

Address: 150 Empire Street, Providence, RI 2903

Census Tract: 44007000800

PDF Profile

Site Visits

Other Rhode Island Projects

The project is an adaptive reuse of the American Locomotive Works site in Providence, RI.
Financing supported the rehabilitation of a 45,000 sq. ft. building into hospital, office, and clinical space.
Completed in 2010, the Mercantile Block in Providence, RI is the third of arts organization AS220’s development projects in Providence’s Downcity Arts District.

Construction of a new 22,700 sq. ft. community center and music education facility with practice rooms, sound lab, music performance hall, lobby/cafe and lounge. The project will create cohesive urban