News Summary
The I-195 Redevelopment District Commission has authorized the sale of a 1-acre parcel to Hasbro for $1, enabling the construction of a new corporate headquarters in Providence. This move aims to retain the toy company in Rhode Island amid concerns of relocation to Massachusetts. The proposed 300,000-square-foot office would feature an open floor plan, parking, retail space, and potentially a toy museum. Community engagement is encouraged before the formal vote, highlighting the balance between economic growth and local interests.
Providence, Rhode Island – The I-195 Redevelopment District Commission has approved a significant proposal designed to retain the Hasbro corporate headquarters in Rhode Island. The commission authorized the sale of a 1-acre plot known as Parcel 42 to Hasbro for just $1, allowing the toy company to construct a new corporate office on the thriving west side of the Providence River along Dyer Street.
This strategic move by the commission will grant Hasbro the exclusive rights to develop its new headquarters on this prime location. A detailed plan has already been drafted, which outlines the construction of a 300,000-square-foot building featuring an open floor plan. The proposal includes on-site parking and designated retail space, with the potential addition of a toy museum that celebrates the company’s heritage and its impact on the toy industry.
The offer to Hasbro allows for negotiations and will remain active for at least six months. The commission has emphasized the urgency of this proposal in light of Hasbro’s reported interest in relocating to Massachusetts, potentially jeopardizing its long-standing ties to Rhode Island. The I-195 District, where the parcel is located, boasts modern amenities that include residential options, restaurants, coffee shops, and a downtown park, all conducive to a vibrant community. Such features align with the needs of today’s workforce, as highlighted by Marc Crisafulli, the commission chair.
During a recent commission meeting, which did not feature any Hasbro executives, the body discussed the proposal with the aim of garnering public support. Prior to a formal vote on the proposal, the commission plans to open the floor for public comments, ensuring community engagement in this crucial decision.
Hasbro, known for its iconic lines of toys and games, has deep roots in Pawtucket, Rhode Island. However, recent developments suggest that the company has been exploring alternative locations, raising concerns about its future in the state. The commission is hopeful that this proposal will encourage Hasbro to remain in Rhode Island and continue its contributions to the local economy and community.
Should the development proceed as planned, the new headquarters would not only solidify Hasbro’s presence in Providence but also enhance the surrounding area, drawing in visitors and potentially creating new jobs. This initiative reflects a broader commitment by the I-195 Redevelopment District Commission to foster economic growth and attract innovative companies to Rhode Island.
The I-195 Redevelopment District Commission, established to oversee redevelopment efforts in the area, looks forward to presenting this proposal as part of its mission to revitalize the district and ensure it becomes a bustling hub for businesses and residents alike. As discussions move forward, the commission’s commitment to supporting Hasbro’s growth remains clear, setting the stage for potential development that could significantly impact the local landscape.
Providence residents and stakeholders remain poised to engage in the discussions surrounding the proposal, emphasizing the importance of balancing economic development with community interests.
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Additional Resources
- Rhode Island Current
- Wikipedia: Hasbro
- Turn to 10
- Google Search: Hasbro Headquarters Rhode Island
- Providence Journal
- Encyclopedia Britannica: Toy
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- Google News: Hasbro Rhode Island
