Waterfire Arts Center

Nonprofit Behind Iconic Arts Display Finds Home With Tax Credit Help

Investment

  • NMTC Amount: $10,350,000
  • Total Project Cost: $14,115,156

IMPACT

  • 7 FTE jobs
  • 100 construction jobs
  • 35,000 sq. ft. of real estate

Investor

Voices from the Community

New Market Tax Credits were critically important to WaterFire Providence in creating the WaterFire Arts Center which is transforming the underserved Valley/Olneyville neighborhood of Providence into a vibrant arts corridor.

-Peter Mello, Managing Director and coCEO, WaterFire Providence, Providence, Rhode Island

Project Description

Redevelopment of a 35,000 sq. ft. warehouse building in Providence, RI. The building provides an art center for the community and is occupied by WaterFire Providence.

MAP

Address: 475 Valley Street, Providence, RI 2908

Census Tract: 44007002500

Site Visits

Other Rhode Island Projects

The renovation and expansion of the existing 36,346 sq. ft. Boys and Girls Club.
Providence Public Library used NMTC financing a $25 million renovation of its library in Providence.
Blackstone Valley Prep Mayoral Academy High School is the third school developed in the partnership between Civic Builders and the BVP charter network.
A new $15-million community health center projected to more than double the number of residents served in Rhode Island’s smallest and poorest city.