Arcade is Going Condo - Now
Thursday, May 13, 2021
The Arcade in Providence is transforming its award-winning micro-lofts into condos. It is now official and they are now on the market.
In January of 2020, developer Evan Granoff exclusively confirmed to GoLocal that The Arcade in downtown Providence would be going condo. America’s first indoor shopping mall will be offered to the tenants first and then to other potential future buyers.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThen, the pandemic hit.
Now, they are on the market, and oh, what a real estate market it is.
Mott & Chace Sotheby’s International Realty is handling the sales and marketing partnership with the Arcade. The firm is listing the residential micro-lofts and offering residents the opportunity to own small attractive living space in the most recognizable building in the center of downtown Providence.
Offered for sale for the first time, the units are efficiently designed to provide a unique opportunity to live in an urban environment close to Providence’s universities, restaurants, hospitals and the financial district. The dwellings feature built-in seating, bed frame, and storage. Equipped with a dishwasher, apartment-sized refrigerator, microwave and wall mounted television, each unit is move-in ready.
The upper residential floors are accessible by elevator or stairs, and common spaces are private and secure. The Arcade Providence offers bike storage and a ramp located on the lower level. Public transportation, such as the AMTRAK train and RIPTA bus system, is just a short walk away.
The asking price range from $135,000 to $145,000.
About Historic Property
Built in 1828, the Arcade structure was declared a National Historic Landmark in 1976.
The Greek revival structure was designed by Russell Warren; Tallman & Bucklin. When constructed it was considered to be America’s first indoor shopping center
The distinguished Greek Revival architecture, such as the interior atrium and exterior façade and six Ionic 45 foot high columns, still stands barely touched. Watching over Westminster and Weybosset Streets, the first-floor retail community includes dining, unique shops, and salon services.
Cheryl Andreozzi states, “I am honored to be representing the Arcade Providence Residences. Granoff Associates LLC has entrusted Mott & Chace Sotheby's International Realty with the sale and marketing of the micro-condos, in a groundbreaking adaptive reuse development, built originally as one of the oldest enclosed shopping mall in the United States of America.”
For more information about available units, please contact Andreozzi.
When the Arcade re-opened in October 2013, GoLocal wrote:
America's oldest indoor mall, the Providence Arcade, is now open for business once again. Since 2008, the Westminster Street shopping center had been closed for renovations, and today's ribbon-cutting ceremony marked the beginning to its new era.
In a ribbon-cutting ceremony on the Arcade's front steps, owner and developer Evan Granoff spoke to a large crowd about the new shops and residences, proclaiming his excitement for the downtown site's "economic viability for the first time in its history."
Eleven retail shops are now open, with six more coming soon, which are all locally owned. The shops offer a wide variety of products and services including art galleries, restaurants, clothing outlets, and Providence's first Bicycle Garage.
Governor Lincoln Chafee was in attendance, speaking briefly at the ceremony, thanking Granoff for his efforts. Mayor Angel Taveras also spoke of the multiple newly established business, and expressed his gratitude, "Thank you for saving this beautiful and historic Arcade."
Upon the reopening Curbed wrote, "In 2008, Rhode Island's Providence Arcade was in trouble. Considered America's first indoor mall, the nearly 200-year-old downtown building closed after struggling to fill its cramped commercial spaces. The arcade needed an overhaul, but few viable options existed: when the possibility of a gut job arose, preservationists raised holy hell. In the end, the shopping center and its snug quarters proved just the right fit for a growing housing trend: micro-apartments.
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