If the powers that be in Providence were able to muster themselves to insist that the iconic "BILTMORE" neon signage stay permanently affixed to and illuminated at the top of what is now the Graduate hotel--and surely they must've, otherwise, why would an incoming hotel operator take the initiative on its own to maintain signage that literally subverts its brand--then it would seem like a smaller lift in comparison, argumentation-wise, to insist on preserving a structure that is substantially more iconic and symbolic of Providence's identity (indeed, of the entire state, taking second place probably only to this ever-perky insect).I’d also echo concerns about the Industrial Trust building. Failures aside, I think good that the current administration recognizes that saving the building is vital to success. What’s a state, region, country, without a proportionally powerful/ impactful city center? If successful, even moreso important symbolically. But yea - if the building goes I go
Interesting that the lead plaintiff here is the guy who conducted the now-legendary "The Superman Building has zero value [as of 2013]" appraisal. Maybe his real objection to the project isn't on zoning grounds, but, as an appraiser, is the same as mine--that it seems fantastically delusional that the Providence market could ever support a development of this type?
As a reminder, this is the proposed site for the sleek gleaming fantabulous pinnacle 'o' luxury. Why not rebrand it Tumbleweeds Tower?
Yup, I'm well aware of all the good stuff happening on the parcels opened-up by the demo of the former I-195 overpass.... but if you're being asked to buy a condo for $2 million-plus--or rent for $4k per month-plus (not sure if it's spec'd for condos or apts), are you going to have the patience for that? I'm skeptical the market would support this project even if it were plunked-down in the center of Downtown Providence's cultural district--i.e., adjacent to Trinity Rep, or the Waterfire ampitheater, or on Weybossett or something. As it is, the fact it will not be surrounded by cultural amenities such that the ultra-affluent expect to have in return for such high prices, is a major liability.
Absolutely not, so I'm glad you called out my speculation. This is the best thing I could find online in terms of the developer "opening up the kimono" in an attempt to demonstrate project feasibility--scroll down a bit to scrutinize the scans of their cost and revenue projections. Key caveat: pre-pandemic! (when everyone was already highly skeptical about the project's viability in the first place...)
So the grand experiment commences... interesting. I've already voiced my skepticism upthread, but the market shall decide. It's actually a closer walk to the Downtown core than I realized, just 700 yards to Burnside Plaza and .75 miles to Waterfire amphitheater and thus slightly less than a mile to Providence Place/Amtrak station.
There’s not a snowball’s chance in hell this gets financing. The work they’re doing now is most likely a component of their loan proposal.
