This week, Steve and I were in the studio with my good friend Pat Moran, Development Chair of the Downtown Providence Parks Conservancy (DPPC) and joined on the phone by the Executive Director Cliff Wood and developer Chris Marsella to talk about this exciting project.
Downtown Providence’s central plaza has drawn many visitors through the years. In 1917, The Great Houdini performed his magic in the plaza for thousands of people. The Plaza was re-named “Kennedy Plaza” after then presidential candidate John F. Kennedy gave a speech in front of more than 60,000 people. For the longest time the plaza was host to many seedy activities including public drunkenness, drugs, and robberies. While the city has managed to cut down on crime in recent years, it is far from the vibrant urban hub the DPPC envisions.
The Conservancy’s plan, working with property owners, city, state and business leaders to improve the area and create a public-private partnership to maintain it, is patterned on similar partnerships in other cities such as Bryant Park in New York. The new pedestrian-friendly Kennedy Plaza will aid in the city’s efforts to retain existing businesses and attract new industries to downtown, inciting increased economic activity by drawing people to the center of downtown.
This week’s Real Estate Insight:
Be a part of this great project. On Tuesday March 11th, the DPPC will be hosting a fundraiser at the Flatbread Company, 161 Cushing Street in Providence (where Adesso used to be) to benefit the transformation of Greater Kennedy Plaza. Between 6 and 8 pm, enjoy live music, raffles, a Revival Beer tasting, drink specials and more.
Originally built in 1860, The Susan and William Huston House is one of the crowning jewels of historic Benefit Street on The East Side of Providence, Rhode Island. The massive carved walnut front doors and newel post on the stairs are the only original interior details that remain today and formed the inspiration for a complete and meticulous rebuild by the artisans at Modern Industries in 2008. This home has been further enhanced by the present owners to their own exacting standards with state of the art systems throughout.
Modern enhancements include an elevator that services all floors, air and water filtration, integrated media systems and more to help make this home as comfortable and functional as it is beautiful.
For more information, please visit: http://309benefitst.com/
According to the latest figures from The Rhode Island Association of Realtors, single-family homes sales rose 12 % in January compared with the same period last year, as the median price rose 11 % to $194,950, marking the 16th consecutive month of monthly year-over-year price gains in Rhode Island.
Multi-family market sales rose 8% last month compared with January 2013. 86 sold in January and 80 during the same period last year. The median sale price also rose 8% to $125,000 last month.
The condominium market was flat in January with 96 sales both last month and last year, while prices rose 3 percent year over year in January to $205,000 from $199,450.
This Week’s Real Estate Insight:
Tons of snow and low inventory have certainly put some constraints on the market, but we are definitely off to a great start.