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Developer plans $333 million rehab project in Providence

PROVIDENCE -- Struever Bros. Eccles & Rouse will make a major announcement tomorrow about a project to develop a stretch of land along the Valley and Promenade streets.

Dubbed American Locomotive Works (ALCO), the $333 million project will be the largest single capital investment in Providence since the Providence Place Mall.

The project spans 22.5 acres and will transform two dozen historic properties on the former U.S. Rubber, American Locomotive Works, and Nicholson File Company sites into 600 new condominiums, town houses, and loft apartments, as well as office and retail space. Also planned are hotel accommodations, structured parking, and a river walk along the Woonasquatucket River.

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