BankRI to Build New HQ in Fox Point and Move Corporate Office From Downtown's Turks Head

BankRI to Build New HQ in Fox Point and Move Corporate Office From Downtown's Turks Head

In what will be the first new ground-up corporate office constructed in the capital city in more than a decade, Bank Rhode Island (BankRI) on Wednesday announced the development of a new headquarters to be located in Fox Point.

The location for the new headquarters will be built on Parcels 8 and 8A of the I-195 Development District as part of a significant mixed-use project.

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The I-195 Redevelopment District Commission awarded the parcels to local developers D+P Real Estate and Truth Box, Inc. at its meeting held on September 21.

“This is a tremendous opportunity that both supports the growth of BankRI and further deepens our commitment to the City of Providence and our entire state,” said William C. Tsonos, incoming President and CEO of BankRI. “We are pleased to partner with Jordan Durham and Peter Gill Case on this important project.”

The move by BankRI leaves a major hole in the Turks Head and the so-called Financial District. The bank is expected to continue to operate the branch on the first floor of the Turks Head.

The project will feature the construction of a six-story, 240,000 sq/ft building anchored by BankRI’s new corporate office headquarters, which is planned at 58,000 sq/ft. It will also feature the creation of 95 residential units, ground floor retail space, and fully integrated indoor parking. Construction is expected to commence in summer 2023.

“BankRI has been our financing partner here in Rhode Island for more than a decade, and we are thrilled that they choose us for their project,” said Jordan Durham, Principal & Founder, D+P Real Estate. “We cannot wait to deliver them a great building that maintains the unique characteristics of the East Side and brings vibrant activity to the area.”