Waterplace was billed to be an exciting condo project in the quickly growing Downtown Providence(Downcity). With the Providence condo market slowing and a lack of lenders willing to give jumbo loans on new condo projects, Waterplace has been faced with an interesting dilemma. Turn the building into an all rental project OR, now this is just a rumor, sell the building to a local University for dorm usage. Let’s say, Brown U perhaps, who is buying the entire downtown area along with Johnson and Whales. This professional real estate person is putting his money with apartment conversion or an all out sale to a local University, and why not, we all know colleges do not pay property taxes due to the fact they bring in so much revenue to local businesses. We shall see what happens.
September 17, 2007
October 19, 2006
Welcome To LuxBeat.com
My name is Joshua A. Golden and I would personally like to welcome you to LuxBeat.com, a luxury real estate blog with a focus on the Boston, MA and Providence, RI markets. Our highly knowledgeable team of contributors including developers, lawyers, and real estate professionals will bring you updates, opinions and stories pertaining to luxury real estate in the above mentioned cities. Here you will find different perspectives on the market as well as interesting rumors we have heard on the street. We will also field questions should you have them. Please do not hesitate to click on “Ask The Editor” button to the left and we will do our best to answer them and perhaps even post them to the blog for everyone to see. I hope you enjoy the information provided and should you have any suggestions please feel free to forward them to our editors.