PAWTUCKET, R.I. (WPRI) – Pawtucket Mayor Don Grebien is concerned the developer of the so-called Tidewater Landing project will walk away if the state doesn’t come through with an additional $30 million in financial support.

The development positioned alongside the Seekonk River in Pawtucket would include a 10,000-seat waterfront soccer stadium, 435 housing units and a parking garage. But it’s become increasingly expensive.

The cost of Phase 1 of the project has increased from $284 million to $344 million, which developer Fortuitous Partners attributes to inflation and supply chain-related issues.

The developer and city officials met with the R.I. Commerce Corp. board for hours on Monday, but the state hasn’t yet committed to putting up the additional $30 million the developer and local leaders are seeking.

“We’re afraid and we’re really concerned that we could lose this developer. We’ve been down this path before and none of us wants that,” Grebien said. “I’m getting to that point where that urgency is there and it feels very similar to four years ago, and I don’t want the state to cost us this opportunity in Pawtucket again.”

The mayor suggested the developer is losing patience.

“At some point, they feel insulted, and I think we’re getting close to that,” he said.

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Fortuitous has committed to spending an additional $25 million in private capital on top of its initial $20 million capital investment. Pawtucket so far has contributed about $20 million toward the project.

With the additional $30 million, the state would be contributing a total of $57 million through its tax incremental financing program. Commerce has already allocated more than $10 million in other incentives.

On Monday, a spokesperson for Gov. Dan McKee said if the state decides to proceed with the project that “they are looking for non-state revenues to join in closing the $30 million financial gap.”

Spokespersons for the governor and Commerce did not immediately respond to the mayor’s comments Wednesday.

Grebien pointed to the loss of the PawSox as a reason why it’s imperative the state invests in Pawtucket.

“This would be the second time the state has not stepped in for Pawtucket,” Grebien said. “So what does that say to the outside world about investing here in Rhode Island and here in Pawtucket?”

He even went so far as to point to the state’s investment in renovating the Superman building, saying this is a bigger project that would bring in more money, more jobs and more tourism.

Construction is in full swing at the waterfront location in Pawtucket, and when asked what that space would be utilized for if this project doesn’t come to fruition, Grebien said it would sit empty.

“This would still be vacant, and when you look across the river, a bridge that connects that, they’re letting Pawtucket down if they don’t give us that. Also all of the housing, residential, commercial and retail. That’s what they’re losing,” he said. “We’re not asking for handouts. The state just always puts so much money into the capital city. It’s now time to take care of the Blackstone Valley.”