The Foundry Celebrates Expansion of The Promenade Luxury Residences

PROVIDENCE, R.I. – The Foundry joined colleagues, development partners, community leaders, neighborhood residents and State and local officials today to celebrate the next phase in the development of The Promenade. The Sharpe building is the 13th and final building to be restored, and will be developed into 196 luxury residences, adding to the existing 237-unit Promenade residences.

Foundry Chairman, Antonio Guerra who passed away on October 11, was posthumously honored at the event for his vision, leadership and unrelenting commitment to the State, with citations presented to the Guerra family by Governor Lincoln D. Chafee and Jim Bennett, Director of Economic Development for the City of Providence.

“Over the past several weeks, there have been many kind words written and spoken about Tony Guerra and his lifetime vision for this distinguished Foundry campus,” said Tony Thomas, Partner at The Foundry. “If my father-in-law were standing here today speaking about his 46-year journey to the successful completion of this project, he would thank the people gathered here for their help and support along the way,” added Thomas.

Henry and Peggy Sharpe, from the original Brown & Sharpe family that developed these mill buildings, were in attendance to celebrate the efforts of Antonio Guerra, who bought the complex in 1968 with the goal of preserving the industrial heritage of the complex while investing in the economic development of the area. Like all of The Foundry developments, the original character of the building will be preserved, offering residents contemporary living with historic charm. The building will feature a 10,000 square foot outdoor courtyard with reflecting pool, designed to utilize the original granite foundation and many of the original building elements.

“It is wonderful to have Henry and Peggy Sharpe here as we remember Tony Guerra who 46 years ago envisioned the rehabilitation of 25 Holden Street and all the other Browne & Sharpe buildings that we celebrate today,” said Ted Sanderson, Executive Director of the Rhode Island Historical Preservation & Heritage Commission. “Tony and his development team saved this great landmark of industrial heritage, and he was a pioneer in showing how investing in these historic buildings is good for jobs, good for housing, good for the economy, and good for the community. Tony led the way,” added Sanderson.

Slated to be completed in Summer 2015, the Promenade will include196 luxury apartments, offering metro, studio, 1 & 2 bedroom units with programmable heating and cooling systems to allow for remote access capability. Amenities include free ample parking, a rooftop lounge with city views, a new state of the art gymnasium, a theatre with 4K viewing and stadium seating, and concierge services.

Construction partners include: architects Bruner/Cott & Associates, Inc., general contractor Dimeo Construction Company, Inc., development consultants Colliers International, structural engineers DM Berg, electrical and mechanical engineers BLW Engineers. Major construction subcontractors include: Clifford & Galvin Contracting LLC, Wayne J. Griffin Electric, Inc., Peregrine Mechanical, Inc., Gem Plumbing, Inc., Manafort Brothers, Inc., and Color Concepts, Inc.

About The Foundry
The Foundry is one of America’s most distinct office and residential locations. Once the site of one of the industrial revolution’s most successful companies – Brown & Sharpe Manufacturing Company – today it is the location to many of New England’s best companies and the region’s most distinct apartment living. The campus offers 26-acres and 13 of America’s most celebrated historic buildings – pristine in renovation. For more information visit www.foundryri.com.

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