EAST PROVIDENCE -- A developer on Thursday announced plans for a new amphitheater for the city’s waterfront concert series as well as a port for Rhode Island’s offshore wind industry on waterfront property that’s been mostly unused for 40 years.

RI Waterfront Enterprises LLC bought the land near where the concert series currently takes place at Bold Point Park. The group is partnering with the city of East Providence and the East Providence Waterfront Commission.

“It was important for the city to champion this project because it adds to our city’s commercial tax base, as well as solidifies the State of Rhode Island’s commitment to green energy and its position at the forefront of offshore wind energy,” East Providence Mayor Bob DaSilva said in a news release Thursday morning.

The parcel, known as the South Quay, was previously owned by the Providence and Worcester Railroad, according to RI Waterfront Enterprises LLC.

The concert series will continue as planned in 2019, while the new venue is set for a 2020 opening.

Live Nation will continue to do the booking for the events, which will include the concert series as well as other entertainment.