PAWTUCKET – The “major lifestyle center” planned at the Narragansett Park Plaza off Newport Avenue on the Pawtucket/East Providence line is still on hold as its developers deal with the impacts of the COVID-19 pandemic.
At a Planning Commission meeting last month, the commission approved a one-year extension of a master plan approval granted in May of 2019 in association with the proposed mixed-use commercial plaza redevelopment.
Tenessa Azar, of Moses Ryan LTD, provided an update to the commission, according to the minutes. The property owner, Amalgamated Financial Group, has completed construction of a free-standing Taco Bell as part of approved phase 1A. The proposed redevelopment of the remainder of the site is delayed based on commercial demand as a result of the pandemic, said Azar.
The bank’s new holding company, Amalgamated Financial Group, is the first publicly traded financial services company to become a public benefit corporation. It says the legal designation will help officers and directors balance the interests of shareholders and the public.