PROVIDENCE, R. I. -- After more than a year of negotiations, Johnson and Wales bought two sections of land -- freed by the relocation of Route 195 -- from the state for $3.9 million.
The university said Friday that the price is "fair market value" for the 1.71 acres, next to land already owned by JWU along Pine and Friendship streets. The purchase is part of a deal made earlier this year to triple JWU's annual payments-in-lieu-of-taxes to Providence.
Spokeswoman Lisa Pelosi said JWU envisions adding an outdoor green space and up to three buildings, but plans are not final. Infrastructure improvements are needed before construction starts.
JWU Chancellor John Bowen says he believes JWU's plans will be "a catalyst" that's "integral" to the city and state's economic development.