State, City Officials Celebrate Opening of Dexter Street Commons Mixed-Use Complex in Pawtucket
$55 million transit-oriented development brings 150 energy-efficient apartments and new retail to Pawtucket’s Conant Thread neighborhood
PAWTUCKET, RI – Pawtucket Mayor Donald Grebien today joined Governor Dan McKee, Secretary of Commerce Stefan Pryor, Secretary of Housing Deborah Goddard, and developer Lee Peyser of Peyser Real Estate Group to celebrate the ribbon-cutting and official opening of Dexter Street Commons (71 Dexter St, Pawtucket, RI 02860). The $55 million mixed-use development converted a long-vacant space into a new community hub in the heart of the Conant Thread district.
Located just one block from the Pawtucket-Central Falls Commuter Rail Station and bus hub, the five-story development features 150 energy-efficient, all-electric apartments, with 20% of the units designated as middle-income housing.
“Projects like Dexter Street Commons don’t happen by accident. They’re the result of partnerships and a shared commitment to building more housing,” said Governor Dan McKee. “Since I became Governor, we’ve made housing a top priority, increased permitting by 150 percent, and helped get nearly 7,000 state-supported units built or in the pipeline. We’re going to keep building because that’s how we make Rhode Island more affordable for everyone.”
“Dexter Street Commons is a big step forward in creating a vibrant new neighborhood surrounding the Pawtucket-Central Falls Commuter Rail Station. This development will not only address our community’s housing needs but also serve as a cornerstone for future growth in and around the Conant Thread district,” said Pawtucket Mayor Donald R. Grebien. “Pawtucket is already leading the state in affordability, and with projects like this, we are continuing to meet and exceed our goals for access to both market-rate and middle-income housing units.”
The ground floor of the development features commercial spaces intended to support residents and the neighborhood, including a restaurant and a world emporium marketplace. It also includes a “Windows on Dexter” art gallery which will feature rotating displays of work by local, regional, and national artists.
“We are excited to open the doors and welcome residents to Dexter Street Commons,” said Lee Peyser of Peyser Real Estate Group. “I am deeply grateful to the partners who helped realize this vision. This complex will energize the neighborhood and serve as a catalyst for future growth. Residents will enjoy modern apartments, co-working spaces, a state-of-the-art fitness center, and unique programming and features like our ‘Windows on Dexter’ interactive art gallery.”
Dexter Street Commons is a prime example of transit-oriented development, designed to leverage the success of the nearby transit hub, which now sees over 1,800 daily passengers.
“This project leverages the nearby commuter rail station and builds upon the Blackstone Valley’s growing momentum to generate yet more positive energy in the city of Pawtucket,” said Secretary of Commerce Stefan Pryor. “We are pleased to have supported this important mixed-use development via multiple public investments. And we’re glad that Rhode Island families and businesses will soon begin to benefit from this newly constructed complex. Congratulations to the Peyser Real Estate Group and all of the public and private partners in this great project.”
“Projects like Dexter Street Commons represent the investments we are making to not only create new housing, but also to strengthen communities and expand opportunities for Rhode Islanders,” said Secretary of Housing Deborah Goddard. “In addition to adding much-needed homes, this development transforms an underutilized site into a vibrant neighborhood with commercial space, improved infrastructure, and amenities that support residents and local businesses. Creating more housing is essential, but so is ensuring those homes are part of safe, connected, and thriving communities where Rhode Islanders want to live.”
Dexter Street Commons was made possible through a collaboration of public and private partners. In state incentives, Rhode Island Commerce provided more than $9.7 million in incentives, including through its First Wave Closing Fund and Rebuild Rhode Island Tax Credit programs. The Rhode Island Executive Office of Housing and RIHousing invested more than $6.2 million from the Middle-Income Program and TOD Fund. And the Department of Environmental Management invested $700,000 from Brownfields Remediation and Economic Development Fund grants.
Additional partners include the City of Pawtucket, the Rhode Island Infrastructure Bank, The Pawtucket Redevelopment Agency, and The Pawtucket City Council. The project’s senior lender was Rockland Trust Company, and equity investments were contributed from AMJ Capital, Panot Capital, and the Healthy Neighborhoods Equity Fund (HNEF) – administered by the Conservation Law Foundation (CLF) and Massachusetts Housing Investment Corporation (MHIC).
“Developments like Dexter Street Commons are just the kind of investments that The Healthy Neighborhoods Equity Fund seeks to make,” said Moddie Turay, President & CEO of the Massachusetts Housing Investment Corporation. “We believe that characteristics such as excellent walkability, access to transportation and energy-efficiency not only make good financial sense, but are also investments in residents, neighborhoods, and the larger community. HNEF is designed to help fill the funding gap in projects such as this one, with the goal that our investment will ultimately lead to healthier, more sustainable living across New England. We are thrilled to see this project reach completion and look forward to celebrating as both residents and businesses move in and call it home.”
“Dexter Street Commons delivers healthy homes and strengthens the neighborhood through climate‑smart design,” said Alex Linkow, director for impact investment at Conservation Law Foundation. “By building an all‑electric, energy‑efficient development, this investment gives residents healthier living spaces while reducing energy costs. It’s a smart, forward‑looking investment for Pawtucket — one that supports families, protects climate, and positions the community well for the future.”
Sonnenfeld and Trocchia were the project architects and New England Construction was the general contractor. Fuss & O’Neill and CSL Consulting have served as consultants. The property will be managed by John M. Corcoran & Co.
For leasing information, visit dexterstreetcommons.com.
