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Strongly disagree, downtown desperately needs one grocery store for all the people living downtown now. It could even be the first floor of an existing building, but it should be worked into the fabric.
You don't think the downtown restaurants are busy now?
I dislike the "look down the nose thinking" that Bostonites have who see Providence not as a unique and attractive city in its own right worthy of major consideration but as a slightly unfortunate alternative to living in Boston.
Is anyone familiar with Crystal City in Arlington, Va? A vast complex of modernistic high rises with a cold look that only serve as a commuter's warehouse for DC.
Will you be buying one of those super expensive condos? I won't. What do you'll think they'll cost? I still think people posting here are missing my point about Carnegie In Portsmouth. It was a huge failure of expectation and market research- that is the point. It is not "coming into its own" now either. I don't know the exact number but I think fewer than ten of eighty condos are filled.
The argument that's it's private money from Fane is somewhat hollow when one considers how badly a major failure would make Providence look for future building and investment. Remember everyone screaming about the empty Fleet bldg- still empty by the way.
I say we don't need any "major statements"- just things that fit in and are viable and are not eyesores.
A lot to unpack here. The bigger point in Portsmouth is: were they better off with the defunct aluminium mill tower or with the private investment of the Carnegie Tower, even with its failures? My guess is the tax collector would say Carnegie. And, why would you turn away such outlandish private investment in Providence? It's somebody else's crazy vision. Somebody else's private investment in Providence. If this amazing 21st century vision fails to "fit in" and causes PVD to lose its soul, it never had much of one to begin with.
Too bad they could not build it on the land that was once supposed to be One Ten Providence, the proposed 40 story building next to the arcade (cleared land still vacant since 2004).
They likely earn more than most PVD residents and they'll be out shopping and eating/dining very regularly.
It's a great situation for PVD.
And a large grocery downtown? That makes no sense. Real estate too expensive and traffic concerns. That would be a poor use of a large downtown location. Market Basket likes to own the plazas they are in, that's a big reason for their success, it would be a waste for them to do what they do in a downtown location.
I am confused here so help me out. The builder gets a subsidy and a tax break. But aren't these condo's that will be taxed separately as any home would be? Wouldn't that taxation be net gain for all.
Location: Earth, a nice neighborhood in the Milky Way
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Originally Posted by Hollytree
Absolutely- great points! Twenty years to property tax. I do believe the city is providing infrastructure and services. Exactly how much in business and will be generated by these likely Boston commuters?
More likely, 20 years until *full* property tax (assuming they don't get an extension down the road. Frequently the Tax Stabilization Agreements are 0% for the first few years and then ramp up. But it is tough to say what will happen here because they don't give out the freebies uniformly. Do the favorites get the best deals? Your guess is as good as mine.
I am confused here so help me out. The builder gets a subsidy and a tax break. But aren't these condo's that will be taxed separately as any home would be? Wouldn't that taxation be net gain for all.
Yes, one of the many benefits to the city will be new property taxes derived from the condos @ business space sold.
On Thursday, the Providence City Council Finance Committee is considering an ordinance extending the existing tax stabilization plan for The Cosmopolitan at 100 Fountain Street in downtown Providence, one of a number of pending proposals for existing tax break extensions in the city.
“These were all individual projects, and we've had the staff spend a lot of time [reviewing] them,” said City Council President Luis Aponte. “I’d say 100 Fountain Street seems like the biggest giveaway. One's currently for sale for $549,000 -- and pays something like $1360 a year in taxes -- which is pretty much just more than most people’s car tax.”
And when the TSAs were set to expire, the condo owners claimed they weren't prepared to to pay full fare and wanted a TSA extension.
Historically, TSAs tend to be bad deals overall for Providence tax payers and great for the folks who get them. It ends up being subsidized housing for those who don't really need the subsidy.
Historically, TSAs tend to be bad deals overall for Providence tax payers and great for the folks who get them. It ends up being subsidized housing for those who don't really need the subsidy.
Yes, and if Providence is so attractive and such a bargain and if so many Boston commuters are dying to live here- why are we giving out tax subsidies at all on these new builds?
Yes, and if Providence is so attractive and such a bargain and if so many Boston commuters are dying to live here- why are we giving out tax subsidies at all on these new builds?
How else are they going to attract them ? they can live in or within reasonable distance from Boston for similar price w/o the other expenses, and consideration of their total tax bill. In other words, it's evidently not a 'bargain'.
While I question tall buildings in general–for economic, environmental, and urbanistic reasons–I might be swayed that the I-195 parcel demands some sort of grand statement.
But the Gianni Ria design is not that. Just like its predecessor proposals, there is nothing elegant or beautiful about this graceless eyesore.
...
Simply put, the Fane-IBI team should not be entrusted with realizing the most important piece of Providence’s 21st-century skyline.
If we cannot figure a way to repurpose the Superman Building, you were expecting me to argue, we are not ready to tackle a monster like the Fane Tower.
Although that may be true, rather, I would argue that Providence–home of 25,000 college students and a preeminent design school should wean itself away from the development-trumps-art mentality.
Yes, and if Providence is so attractive and such a bargain and if so many Boston commuters are dying to live here- why are we giving out tax subsidies at all on these new builds?
Because the ROI in Providence isn't as good as Boston. It costs about as much to build here as in Boston, but yields less.
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