Aloft Providence Downtown Opens in Innovation & Design District

Published on Tuesday, December 07, 2021

PROVIDENCE, RI – Today Governor McKee, Rhode Island Commerce Secretary Stefan Pryor and 195 Commission Chairman Robert Davis cut the ribbon on the first ever hotel in Providence’s Innovation & Design District. The $55 million, 162,000 square-foot, seven story Aloft hotel will be managed by Marriott International and feature 175 guest rooms, including 5 upgraded suites, meeting rooms, a fitness center, a bar with an outdoor patio, and a rooftop lounge.

“Today’s announcement adds to a growing list of developments happening in Providence’s Innovation & Design District,” said Rhode Island Governor Dan McKee. “This project will add jobs, energy, and entertainment to the neighborhood, and furthering Rhode Island’s reputation as an ideal place to live and work.”

The hotel is the latest addition to the city’s Innovation & Design District, joining other recently completed projects such as the Point225 innovation complex, the Providence River pedestrian bridge, and the newly constructed parking garage. In total, $600 million and 2 million square feet of development is either completed or underway in the district.

“Rhode Island's economic recovery is the strongest in the nation – according to Moody’s Analytics – thanks in part to the construction and completion of key projects such as the Aloft hotel,” said Rhode Island Secretary of Commerce Stefan Pryor. “Our state never shut down the construction industry during the pandemic, and has since regained all of the construction jobs lost during the COVID crisis. With today’s hotel opening, the I-195 district becomes even more vibrant and gains even more momentum. Thank you to Dick Galvin of CV Properties, Boston Andes Capital, Chairman Bob Davis and the 195 Commission, and state and local elected officials for investing in this project and bringing it to fruition.”

According to third-party economic impact analysis, the project is expected to contribute approximately $62.9 million in statewide economic output and an increase of $33.5 million to Rhode Island’s GDP. The project was supported through Rhode Island Commerce Rebuild Rhode Island tax credits ($100,00), and tax increment financing ($6,750,000).

“We’re thrilled to celebrate the opening of Aloft today,” said Robert Davis, Chair of the I-195 Redevelopment District Commission. “Aloft complements the other developments in the District perfectly, providing desirable and convenient lodging for visitors to the District. We are especially pleased that this project was completed during the pandemic without delays.”

Richard Galvin, CEO of CV Properties, LLC, adds, “On behalf of our partners Boston Andes, and the entire development team, we are thrilled to see this journey culminate in a great new addition to Providence’s hospitality scene. I especially want to recognize the leadership of both Governors Raimondo and McKee, Mayor Elorza, and the 195 Commission in helping us make this beautiful new building a reality.”

Reservations are currently being accepted at Aloft Providence Downtown, for more information please visit www.marriott.com/hotels/travel/pvdal-aloft-providence-downtown.

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