Citing economic benefits, the foundation’s Board of Trustees have voted to endorse the proposed relocation of the Pawtucket Red Sox from McCoy Stadium to a new riverfront site in the 195 land in downtown Providence., according to executive director Dan Baudouin of the foundation.
The foundation, a business-backed non profit organization, stated in a news release that state and city officials should pursue a financial partnership that is "fair to all parties."
Eight other city stadiums were studied, the foundation said. "The main finding is that in all cases, the downtown stadium facilities have been major factors in helping to generate real estate development and jobs of all types in the area around the stadium. They have been major factors in the increase of restaurant and retail sales in the area."
The study also pointed to an increase in tourism and convention business in cities with downtown stadiums.
The foundation also said a parking study also showed that because most of the parking demand is on nights and weekends, that there could be 20,000 parking spaces within an 11-minute walk from the proposed ballpark, which well exceeds demand.
"The foundation’s recommendation to pursue the 1-195 site is also based on its accessibility to downtown transit service, restaurants, retail, hotels, parking, offices and residents. These characteristics have proven to be important in the success of triple A stadiums."