Gilbane, Next Wave Rhode Island Partners Approved for Phase 1 Contract with RIPTA for State-of-the-Art Transit Center in Providence, RI
Providence, RI – (January 31, 2024) – Gilbane, as Lead Member and Lead Design-Builder of Next Wave Rhode Island Partners (“Next Wave Partners”), will soon get underway on Phase 1 of a progressive public-private partnership (“P3”) to design and construct The Rhode Island Public Transit Authority’s (“RIPTA”) new Downtown Transit Center project. RIPTA’s Board of Directors voted to approve a contract with Next Wave Rhode Island Partners on January 30, 2024.
Next Wave Rhode Island Partners is a consortium comprised of Gilbane Development Company, Marsella Development, Plenary Americas, Gilbane Building Company, CUBE 3, and Jacobs. The new transit center will serve as RIPTA’s central bus depot, providing millions of trips annually, and considering anticipated growth, the transit center will feature a state-of-the-art temperature-controlled passenger arrival and seating area, staff break areas, and amenities including multi-modal accommodations for bicyclists.
This project is unique in that it uses a progressive P3 model, which allows Next Wave Partners and RIPTA to work together in two phases to complete the new transit center. This model is commonly used for larger infrastructure projects. Next Wave Partners will be designing and developing the transit center alongside RIPTA and opening each stage of the process to public input. This approach will ensure RIPTA has input at all stages of the development and can access the private-sector funding and expertise needed to successfully deliver a project of this scale.
“Along with our development partners, Marsella Development and Plenary Americas, we are thrilled to get this progressive P3 underway with RIPTA to deliver a state-of-the-art transit center that will enhance mobility, connectivity, and accessibility for the riders, residents, and visitors of Providence,” said Russell Broderick, executive vice president of Gilbane Development Company and principal-in-charge of the Next Wave Rhode Island Partners consortium. “This project highlights the P3s ability to facilitate a comprehensive process to advance essential community infrastructure projects that meet the needs and expectations of the public sector partner, the facility users and the broader community. We look forward to collaborating with project stakeholders through a robust public process in the months ahead to bring this vision to life.”
“The Providence Transit Center Project is transformative for the state and highlights our team’s unique ability to offer vertically integrated solutions, such as public-private partnerships, to advance important community infrastructure projects,” said Mike Busam, business leader for Gilbane Building Company in Rhode Island. “We’re proud to be a Next Wave Partner and look forward to collaborating with the entire team to deliver this exciting project for Rhode Islanders.”
In the first phase, Next Wave Partners and RIPTA will complete site studies and assessments, engage with the public, seek permitting and any third-party approvals, and develop 30% and 60% conceptual designs. Following input and development of designs, Next Wave Partners will develop cost estimates for the project and financial structuring and advising. Upon successful completion of the first phase of the project, the parties would negotiate a contract for a second phase of the contract for financing and constructing the project. Phase 1 is estimated to occur over the next year and a half.
Next Wave Partners and RIPTA will also explore mixed-use transit-oriented development, such as first-floor retail and residential housing on the upper floors, offering economic development opportunities for the city. In contrast to the current sprawling footprint of Kennedy Plaza, which is spread out across an urban park, the new transit center will provide a single central location. Kennedy Plaza will continue to serve a reduced number of routes.
A comprehensive public comment period will be launched to gather input from stakeholders regarding the designs for the new transit center, in the coming months. For more information about the project and the organizations involved, please visit RIPTA.
About Gilbane
Gilbane, Inc., a private holding company with a more than 150-year history, is one of the oldest and largest family-owned construction, investment and real estate development firms in the world. Gilbane Development Company is the project development, financing and ownership arm of Gilbane, providing a full slate of real estate development and property management services. Gilbane Building Company is a full-service construction services firm providing preconstruction, general contracting, construction management, and design-build services on some of the nation’s most complex projects.
Gilbane’s Public Private Partnership Group has delivered or has underway more than $4 billion in P3 projects for healthcare, higher education, K-12 schools, and federal/state/municipal clients. To learn more, visit www.gilbaneco.com.For more information, visit www.gilbaneco.com.