The old South Street power station in Providence’s jewelry district has been vacant for well over a decade. But it’s about to get a facelift and a new life in the state’s higher education system.
Brown University has announced plans to re-develop the century-old South Street power station, also known as the Dynamo House, into a shared nursing education center and administrative offices. The nursing center will be part of the joint nursing school run by the University of Rhode Island and Rhode Island College. The administrative offices will be used by Brown.
Brown vice president of planning and policy Russell Carey says it could be open in three years.
“It’s a complex project and there’s a design process to undergo,” said Carey. “There’s lease negotiations still to go. But we’re optimistic and hope that construction can begin in 2014 and it would be available for occupancy in 2016.”
The total cost of the project is expected to exceed $200 million. It will be financed through a combination of previously committed state historic tax credits, new federal historic tax credits, private equity and revenue brought in by a parking lot on adjacent property.
The power station, once used by Narragansett Electric, has been vacant since 1999.
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