Phoenix Rising owners to build East Coast soccer stadium

Disclosure: Rose Law Group represents the Phoenix Rising

By Brandon Brown | Phoenix Business Journal

Members of the Phoenix Rising FC ownership team have committed to build a soccer stadium. And it’s on the other side of the country.

Earlier this month Gina Raimondo, the governor of Rhode Island, announced that Scottsdale-based Fortuitous Partners will develop a $400 million project in Pawtucket, Rhode Island, that includes a new multi-use stadium, new indoor sports complex, market-rate and workforce housing, a hotel and commercial office space.

The so-called Tidewater Landing project, which will be partially funded through a new tax increment financing tool, is said to be the largest economic development project in Pawtucket’s history. While the project will receive between $70 million and $90 million in public funds, Raimondo’s office made it clear the 7,500-seat stadium will be privately financed by Fortuitous Partners.