PROVIDENCE, RI - GMH Capital Partners, headquartered in Newtown Square, PA, announced the groundbreaking of River House, a 174-unit luxury apartment community situated along the Providence River, in the Jewelry District of Providence, Rhode Island. River House will be conveniently located to Brown's Alpert Medical School, the Main College Campus of Brown University, Johnson and Wales University, University of Rhode Island-Providence Campus and the Rhode Island School of Design.
River House will consist of two newly-constructed seven story buildings and approximately 5,000 square feet of retail/restaurant space fronting Point Street and the Providence River and will service the housing needs of graduate, medical and upper level nursing students. The property is scheduled to open May 2019.
"GMH is excited to be developing a premier residential property in the city of Providence," stated Gary M. Holloway Jr., President of GMH Capital Partners. "We look forward to serving Brown and the other institutions that have located to South Street Landing with a water-front housing project that delivers great accommodations and amenities. I am also enthusiastic about our partnership with Wexford and look forward to delivering River House as a key component of South Street Landing and the growing Jewelry District and to executing similar projects with them across their portfolio," concluded Holloway.
River House will comprise the final element in Wexford's South Street Landing development, which currently consists of approximately 265,000 square feet of academic and office space as well as a 744-space parking garage. It is a vibrant ecosystem of academics, commerce and innovation, serving the needs of Brown University as well as housing the Rhode Island Nursing Education Center (NEC), utilized by the University of Rhode Island and Rhode Island College.
"Wexford is pleased to be partnering with GMH to create an engaging residential project that brings density, activity, and a sense of community to our expanding Knowledge Community in Providence's Jewelry District, said Jim Berens, Wexford Science & Technology's president and CEO.
River House will enhance the community's ability to access the River and experience convenient pedestrian living. Sitting adjacent to the Davol Square bus stop that is serviced by the Brown University Shuttle, River House provides convenient access to the College Hill campus and doubles as a stop for the Rhode Island Public Transit Authority offering access to all over Rhode Island.
"Brown is excited about River House as the next phase of a development project that supports Brown's vision for a vibrant campus in the Jewelry District," said Russell Carey, Brown's executive vice president for planning. "The proximity of the River House to our Warren Alpert Medical School offers new residential options for our students studying downtown, as well as other graduate students who desire the location."