PROVIDENCE, R.I. – Rhode Island Infrastructure Bank (Infrastructure Bank) today announced the approval of a $400,000 loan from the Brownfields Revolving Loan Fund to finance environmental remediation work as part of the larger Nexus Lofts redevelopment project located at 49 North Union Street, in downtown Pawtucket. The redevelopment will include 27 affordable market-rate apartments with ground floor office and/or retail.
“Many commercial redevelopment sites in Rhode Island require some form of brownfield remediation, and that’s precisely what the Brownfields Revolving Loan Fund program is for,”
“This brownfields loan is a critical part of our overall project financing and site redevelopment plan,”