Providence Place Mall, Providence (Rhode Island)
Providence Place Group purchased the property for the mall’s construction for $11million and later transferred it to New York’s Economic Development Corporation for $1. After completion of the mall’s construction, the Providence Place Group purchased the site and transferred it to the Economic Development Corporation for $11 million. After the mall was completed, it sold off some of its stores and leased out the rest. These are just a few factors to consider when shopping for a new mall. These tips can help you decide if you want to purchase property near Providence Place Mall.
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Attractiveness
The mall’s overall appeal is greatly enhanced by the Boscov’s new anchor store. Providence Place mall boasts more than a million square footage and is large enough to accommodate 140 restaurants and shops. It offers shopping, a food court and gaming equipment. The mall’s impact on Providence’s economy has been immense. It has also fueled the development west of Route 95 of residential buildings. There are over 4,000 parking spots available for customers.
Recently, the owner of the mall leased office space for a non-profit that supports low-income families. The nonprofit also hosted a fundraiser to benefit local nonprofits. Boscov’s as well as Macy’s were also new tenants. Providence Place is an important downtown location. This is why the mall has been so well-received by Providence residents.
Circulation
Providence Place was established in late 1990s and has been a hub for crime and arrests. A mini-crime wave was experienced in the mall earlier this year. GoLocal published a January incident in which a mall security guard escorted a handcuffed male down an elevator. Sionni was asked by security about the incident, and told to delete his video. Ultimately, he deleted it.
Providence Place Mall is surrounded on all sides by large parking lots. There are seven floors of retail and restaurants as well as kiosks and entertainment venues. It is easy to shop and buy items from the mall without walking for miles. For entertainment, those looking to spend an evening or afternoon at the mall’s entertainment venues and restaurants can also enjoy a meal while they watch a movie. The mall opened its doors to the public in 1999.
Quality
Providence residents rate the Quality of Providence Place Mall highly, with 61 per cent rating it as excellent. Only 17% gave it a fair or poor rating and 22% had no opinion. The mall has been in operation for about a year. The public’s response to it indicates its future. It boasts 140 quality shops and restaurants as well as a 16 screen IMAX theater. 329 residents responded to a survey that asked them their opinions. 41 percent said they’d visited the mall within the last six month. However, most respondents agreed that the mall provides a wide range of entertainment and shopping options for all income levels.
Tax incentives
The State of Rhode Island provided a number of tax incentives to developers of Providence Place Mall. The developer was required by Rhode Island to build a movie theater as well as a shuttle to downtown. The state provided tax incentives to the developer. This helped save hundreds of millions. Although the mall is located in a downtown area, it was not included in the Downtown Improvement District when tax breaks were first granted. The Downtown Improvement District includes other businesses located in downtown Providence but does not include the mall.
The design of this mall was influenced by the state. The mall is situated in the statutory Capital Center District. There is a commission responsible for setting and enforcing certain design criteria. This commission applies to public and private projects. Over the years, $208 million was awarded to Providence Place Mall in tax incentives. The incentives provided by the state totaled $135million, while $136million was provided by the city. The incentives were meant to encourage retail sales to the state.
Lage
The Providence Place Mall is made up of fifteen levels. Level C contains Street Level Restaurants, and Parking-Only Stateside. The Stateside garage also has a level D. DSW shoes, Old Navy stateside and Bed Bath & Beyond city side are all on Level B. Level A is reserved to parking. The Providence Place Mall can be found at the southern end, facing the state offices.
The mall is situated on the Woonasquatucket River. It is also close to the Rhode Island Convention Centers. It is located at the top of Providence Station making it easy for shoppers to get around the area. The mall makes use of the one hundred and thirty thousand square feet of available space. Macy’s and Nordstrom are anchor stores, as well as many restaurants. You can even find an IMAX theatre in the mall.
