Site / Project Name |
Paragon Mills |
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Brownfield Site Address |
39 Manton Avenue, Providence, Rhode Island |
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Site Owner |
Olneyville Housing Corporation d/b/a ONE Neighborhood Builders |
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Clear Title |
No |
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Owner Contaminator |
No |
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Former Use |
Textiles (Worsted Wool), Cording |
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Land Use |
The mill is currently partly occupied with light industrial and educational uses. The surrounding area is commercial to the south, east and west, and residential to the north. The mill is located on the Woonasquatucket River, an American Heritage River. |
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Infrastructure |
The site is within one mile of state highways 6 and 10, and within 2 miles of Interstate 95. There is an Amtrak line about .5 mile to the east; the Amtrak station is in downtown Providence, about 2 miles away. |
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Assessment Level |
Phase 2 |
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Contaminants |
As stated in the Phase I Environmental Site Assessment report completed in December 2011 by Woodard & Curran, the property is currently listed as a State Hazardous Waste Site and a US Brownfield site. Environmental investigations identified semivolatile organic compounds (SVOCs), total petroleum hydrocarbons (TPH) and metals in soil above RIDEM Residential Direct Exposure Criteria, and in some cases, above Industrial/Commercial Direct Exposure Criteria. There is an active fuel oil UST where TPH was detected in soil and groundwater in the immediate vicinity. |
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Cleanup Program |
Yes
The owner has secured EPA and RI DEM funds to remediate the site. Remediation planning and permitting is in progress. Remediation is scheduled for spring-summer of 2016. |
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Remediation |
Yes
Asbestos has been removed from pipes and mechanical equipment in the building. The boiler system has been decommissioned, so the UST closure is under application and will be completed within 3 months. |
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Developer |
Yes
ONE Neighborhood Builders |
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Future Use |
Mixed Use |
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Financing Tools: Federal Programs |
EPA cooperative agreement (secured); Federal historic tax credits (approved); New Market tax credits (eligible) |
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Financing Tools: State Programs |
RI DEM TBA program (completed); RI DEM Brownfields Redevelopment grant (secured); State Historic tax credits (reserved); Rebuild RI tax credits (eligible); CDBG (verbal approval, awaiting agreement) |
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Financing Tools: Funds Committed |
Yes, $1.25 million is committed through four sources. |
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Challenges |
Financing
Securing a commercial tenant. In order to get construction and permanent financing to layer with the incentive financing, we need a credit-worthy tenant who will commit to a market rate rent for approximately 30,000 sf of space. (Total square footage is 115,000) |
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Technical Assistance |
New Markets Tax Credits |
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