Downcity (Downtown)

Over the past decade, Providence has been moving a highway that has run through the center of the city since the 1950s. It's called the I-way Project. It's going to run at least $610M, but it's going to be a big improvement for the city and state. Check this out.


This is the land in the center of the city that's going to available once the old exit ramps, exchanges and bridges are demolished - around 2011-12.

The center and lower-left portion of the picture is called the Jewelry District, where Brown's fundraising office is located. The upper-left portion is the south-side of the Downcity (downtown) area.

It's really the biggest thing going on in Providence economically. It should be a boon. Cities usually don't benefit from "found" space like this.

Now the question is, what will they build? Who will come? It's not going to make much sense in the near-term to build mixed-use (combo residential, commercial, retail) which is the vogue thing to do these days (think Arlington, VA), since the city has a terrible glut of unsold condo units. Some developers built the Waterplace Towers - a mix of 193 condos and apartments - at the height of the housing boom. Only four condos have been sold.

They're talking about magnetizing biotech firms and "knowledge industries" because of the colleges and all the hospitals downtown. It could be a massive success or not at all. Should be fun to watch.

The city ended the fiscal year with a $61.8M deficit. Little Rhody needs all the help it can get. (Gotta love the comments in that link.)