The Pawtucket Armory's transformation into The Arts Exchange required several phases of renovations. The first phase took place in 2003 when the former police impound garage abutting the Armory was converted into the Annex Theatre. The Annex Theatre is a modern 120-seat black-box theater that is occupied by the Sandra Feinstein-Gamm Theatre. The Gamm took occupancy of the Annex in November, 2003 after performing in various locations in Providence during the previous nineteen years.

The second phase of renovations took place two years later. This project involved installing life-safety features throughout the Armory and completely restoring the building’s Castle section. New electrical, mechanical, plumbing, and ventilation systems were installed, as were a new staircase and an elevator. All of this work was performed according to the strictest historic preservation standards. 11 years after the National Guard vacated the Armory, the Castle reopened its doors on September 9, 2005. The Jacqueline M. Walsh School for the Performing and Visual Arts occupies the Castle’s upper floors. The JMW School is Rhode Island’s only public high school devoted to the arts to which talented students from throughout the state are admitted only after successfully completing an audition process. Other space in the Castle is available for short-term or long-term rental to arts-related businesses and organizations.

The third and final phase of the Armory’s transformation into The Arts Exchange will take place over the coming few years. The building’s 11,000 square foot Drill Hall will become a new 300+ seat theatre for use by the Gamm and others and a second lobby/performance/function space. The Drill Hall’s ground floor level will house the requisite support spaces – dressing rooms, workshops, and office space – as well as additional classroom space.