Historic Tax Credits
$6.5 Million Federal
Total Development Cost
$46.7 Million
Project Partner
Urban Smart Growth
History
Webbing Company Mill
Webbing Company Mill in Pawtucket, RI was originally constructed as a manufacturing facility for fabric products for the Hope Webbing Company, founded in 1883 by Charles Sisson and Oscar Steere. The facility manufactured fabrics using many different types of fibers including cotton, jute, wool, and silk. Textile was the dominant industry in Pawtucket in the early 1900s, along with machine shops and iron works. The oldest portion of the main mill and the boiler house were built in 1889, and the mill grew by numerous additions through 1914. The preparing building was built in 1902 and enlarged in 1913. The company occupied all or part of the premises until 1994.
Revitalization Efforts
The Final Phase
Hope Artiste was part of the final phase of a decade-long redevelopment of the five-story mill. After its rehabilitation, the mill now contains 149 loft-style apartments. The unit mix includes all 1-bedroom units ranging in size from 500 square feet to 1,431 square feet and offers open space living with exposed brick, high ceilings and large windows. The prior phases of the redevelopment converted 250,000 square feet of the mill into a successful mixed-use destination that supports over 130 businesses including arts, entertainment, local food, retail shops, light industrial workshops, and professional office suites. It also includes a bakery, coffee shop, restaurant, music venue, theater, fitness and yoga studio, event space, and a wintertime farmer’s market. Hope Artiste is connected to the first phases of the mixed-use project via two enclosed sky bridges and an underground tunnel.
NTCIC & Progress
Economic Impact
Hope Artiste was made possible, in part, by NTCIC through an equity investment in the $6.5 million in federal Historic Tax Credits (HTC) generated by the project.
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