A map of the Tidewater Landing project on the Pawtucket waterfront.

PAWTUCKET, RI—Rhode Island Gov. Gina Raimondo and Pawtucket Mayor Donald Grebien have announced what they term will be the largest economic development project in Pawtucket's history.

The estimated $400-million Tidewater Landing project in an opportunity zone on Pawtucket's waterfront will feature hundreds of thousands of square feet of new development, including a news sports complex that will be home to a professional soccer team that will compete in the USL Championship league—the second division of professional soccer in the United States.

Tidewater Landing, will also include expanded waterfront access through a Riverwalk park connecting downtown to the currently underutilized riverfront, a new pedestrian bridge and other key infrastructure upgrades. In addition to a new multi-use stadium, the selected developer—Fortuitous Partners, a New York City-based investment firm specializing in sports-anchored mixed-use real estate projects—is expected to include a new indoor sports complex, market-rate and workforce housing, a hotel and commercial office space. State and city officials estimate the full project will create more than 2,500 direct and indirect construction jobs and more than 1,200 direct, ongoing jobs once completed.