The Sponsor is proposing a $23.8 million, 120-room Hyatt Place hotel on Jefferson Boulevard in Warwick, adjacent to T.F. Green Airport and the commuter rail station. The hotel will have a ground-level connection to the InterLink airport garage and skywalk connecting the garage and airport terminal. The hotel is the first phase in a larger planned mixed-use development for the site that will complement the airport expansion and transit-oriented location. The overall development is expected to include over 500,000 square feet of office and retail space. The hotel represents an important investment in the future of T.F. Green Airport and is anticipated to have a catalytic impact on the redevelopment of the area surrounding the airport into a transit-oriented, mixed-use area in line with the City of Warwick’s City Centre master plan.
The Sponsor has requested up to a maximum of $1,366,991 in Rebuild Rhode Island Tax Credits, which will be issued over 5 years, and $3,500,000 in Tax Increment Financing.
The project is being developed by Michael D’Ambra. Mr. D’Ambra runs D’Ambra Construction and has 45 years of experience in construction and real estate development, including housing subdivisions, commercial buildings, and infrastructure. The Waterford Hotel Group, an experienced hotel operator, will operate the hotel. Based in Waterford, CT, the Waterford Hotel Group is a hotel development, ownership and operating company with 30 years of experience in all major hotel operations.