“Topping Off” of Providence’s Newest Hotel Marks Major Construction Milestone and Progress Downtown

176-room Residence Inn is on schedule to open in 2019

PROVIDENCE – Governor Gina Raimondo, Mayor Jorge Elorza, labor, business and community leaders joined executives from the Procaccianti Companies and Gilbane Building in downtown Providence today to celebrate the “topping off” of the new 9-story hotel marking the completion of construction of the steel structure. Leaders signaled the construction crew to raise the ceremonial tree, an ancient tradition, marking the installation of the building’s highest beam.

“The new Residence Inn is a physical symbol of how far Rhode Island has come in the last four years, and I’m thrilled to celebrate its topping off today,” said Governor Gina M. Raimondo. “Our economy is growing, and it’s no surprise that people want to be here. This hotel will accommodate visitors from all over the world who come to explore our beautiful capital city.”

The new Residence Inn Providence is part of the Marriott family of hotels and focuses on an ‘extended stay’ experience. The hotel will offer 176 rooms, with each suite having separate living and sleeping areas allowing guests to work and relax. Standing more than 100 feet tall, the hotel will include a street-accessible restaurant and retail which will be open to the public.

“Providence is a City on the rise. Our economy is surging and our diverse culinary and cultural offerings are as vibrant as ever,” said Mayor Jorge O. Elorza. “People from all over the world are coming here to experience our creativity firsthand and the Residence Inn will help accommodate even more visitors during their stay.”

The development effort has been championed by the team at the Procaccianti Companies, a nationally-recognized privately-held real estate firm headquartered in Cranston, Rhode Island. For more than 50 years and through nearly 1,000 transactions, the Procaccianti Companies have owned, developed, or managed hundreds of assets coast to coast, surpassing 50 million square feet of real estate.

“We are extremely proud of the successful collaboration of our construction and development teams, with all the City and State officials who worked to advance this showcase project. Unlike many developments currently underway, this required a particularly cohesive vision to address the myriad of unique circumstances and extreme complexities of this major construction project in the heart of Providence’s Convention Center District,” states James A. Procaccianti, President and Chief Executive Officer of the Procaccianti Companies. “Topping off this project is a milestone worthy of celebration and we look forward to delivering an exceptional hotel to this high-profile location.”

Procaccianti Companies have engaged Northstar Project & Real Estate Services to serve as project manager and Gilbane Building Company as the general contractor.

“Gilbane is excited to celebrate this important milestone,” said John Sinnott Vice President and RI Business Unit Leader from Gilbane Building Company. “This intricate hotel project is taking shape thanks to the tremendous efforts of everyone involved and the hard work of the men and women building this exceptional property.  Gilbane is employing innovative construction techniques using advanced planning and prefabrication methods to ensure that the opening date next summer is achieved.”

The project is supported through the Rhode Island Commerce Corporation’s Rebuild Rhode Island and Tax Increment Financing programs. Other project partners include Marriott Corporation, Country Bank, Harbor One Bank, Aztec Group, BlueDog Capital, Posner Group, DiPrete Engineering, Vision 3 Architects and Local 271 Building Trades.

“We are pleased to celebrate this exciting milestone,” said Rhode Island Commerce Corporation President Jesse Saglio. “Our economic development toolkit is helping to catalyze more than 5 million square feet of new real estate development representing approximately $2 billion in private investment in the state, and creating more than 8,000 direct construction jobs. Congratulations on the advancement on this important project, and we look forward to the ribbon cutting in the future.

“From hotels to corporate headquarters, our skilled tradesmen and women are building throughout Providence and Rhode Island, bringing our economy back to life,” said Michael F. Sabitoni, President of the Rhode Island Building & Construction Trades Council. “We look forward to the successful completion of this project in the heart of the capital city.”