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IN PROGRESS: The Plant | 60 Valley St.


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If an area has un-naturally deflated real estate values, due to blight, bad perception and stigma, murder, prostitution, then rises 300% in 5 years as crime and blight are reduced to be in line with the surrounding neighborhoods, how does that increase the chance of blight in the future?

In a hypothetic scenario, if The O prices were in line with Mt Pleasant, Manton, Fed Hill, even Silver Lake, THEN increased 300%, you would be dead on.. But thats not what happened..

Regarding "creative" financing, the area is in line with the rest of Providence.. Subprime lending will affect real estate as a whole.. Your rent/buy comparison is flawed; you are assuming that rent and price are directly linked and fixed; they are not.. If the rent ratio for an area is favorable, prices can rise faster than rent and still prove profitable.. Coincidentally, a blighted area falls into this catagory.. You are also assuming a 1:1 rent cost ratio, when the area is generally populated with 3 family housing..

You had an area full of blight.. No offense to Ft Thumder, but a few beaten up mills generally used to house vagrants and a flea market are replaced with shiny hunter green windowed retail, Valley street goes through a wide spread makeover, residents follow suit on personal residences, and the tide rises.. Inevitably..

The same action that blighted the area (grafiti, broken windows, burnt out mills, dog/cat skinning in back yards on Valley Street, decrepit tire facilities), has been effectively reversed by replacing them with shiny new counter parts...

Residents follow this trend, for their respective reasons, profit, pride or guilt, and the attitude of residents changes.. You don't even have to have the old residents move out; the aura of "new" affects the residents of old.. True, you need some influx of capital, but not wholesale... Simply replace the bottom with a new top, economically..

Sure, the few criminals that torment the general public in an area must be removed.. (In my opinion, 3 bad apple criminals in an area populated by 10,000 can have a dramatic affect).. But the tolerance of crime, or the fear associated with tolerating crime is changed.. Better surroundings, less blight, people are less likely to accept or allow further blight, and more liekly to act against crime..

I understand it sounds pipe dreamy, and the concept is sort of theoretical, but witnessing it first hand, the area is following the script.. Thats why I say it is inevitable.. Right now The O is at the "criminal removal, increased pride, removal of blight, more affluent gentrifiers relo" phase.. Next is "new retail to cater to new/recent residents (sort of in process now, Icon Cafe), stigma removal, and then gen public acceptance..

So all the artsy, hippy folk who view Eagle Square/Promenade area as up and coming and now livable, you are the influx of capital.. Rising rents removes the low rung. The safe feeling, the possiblity of moving here, you are gentrifiers.. You see what the yuppies and then the Jerrys cannot see right now..

After you is the yuppies, who come in and "ruin" the area.. And until they do it, the Jerrys will continue how they feel.. Once the yuppies come in, the Jerrys will remove their stigma.. Far, far away.. The last step..

Thats just the way it goes.. Natural progression.. Everyone has their role.. The process does not stall and reverse.. It runs its course.. But its tough to see the big picture and take your personal views out of the equasion..

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So all the artsy, hippy folk who view Eagle Square/Promenade area as up and coming and now livable, you are the influx of capital.. Rising rents removes the low rung. The safe feeling, the possiblity of moving here, you are gentrifiers.. You see what the yuppies and then the Jerrys cannot see right now..
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I hope its not the next Stab N Kill!!! :lol: What is going on in Dorch!! People dying all over the place..

Its the next Comm Ave, Cleveland Circle.. Where my dad took me to buy my first car.. From a repo man.. And told me to stay close to him, its bad here.. I was 16.. Now its wealthy..

Its the next Porter Square.. Where my mom grew up.. Where they would tell me to not go past the corner store, by the "big houses".. Which I recently found out in a recent trip back there that it is where the 3 deckers and projects are, past that store... Now its nice..

Prov is not Boston, so don't waste your breath.. Its a perfectly proportionate 1/2 worth of Boston.. 50% rule.. Take Boston, cut in half values, etc.. You have PVD..

My investment a few years back has been realized.. I am not hoping for it to get better.. I know it will, because once the process starts, it cannot be stopped.. Like the Predator.. "There's no stopping what can't be stopped.. No killing what can't be killed".

I'm just telling you what I see, thats all.. Not personally, but from a disinterested third party.. :D

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  • 5 months later...

For those interested, the Plant is in fact open, but beyond that, their large-scale public art project, simply dubbed the Smokestack, is being installed this week. Apparently, as of this morning, the bronze grid has been lifted onto the smokestack and for the rest of the week, vines and leaves will be attached to grid and smokestack until it is complete.

In a week or two, or maybe in conjunction with the opening of Cuban Revolution, there will be a grand unveiling party (probably when the lighting is done). But for now, anyone can walk down and see what is going on.

By the way, this is the largest public art project in the state at the moment, and probably the first art project that was able to get past the Historic Review Committee in reference to its use of tax credits (not for the art, but for the larger real estate project).

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This looks great from the onramp/flyover to Rt 6 West from Tobey St (behind Palmieri's)- the top is right about at eye level and the transparency of the open-weave top is really effective.

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  • 1 month later...
Actually, Gillian's original design was for glass block but it was rejected by RIHPHC as not fitting in with the Sec. Interior's Standards for Historic Rehabilitation. The stainless strapping and leaves were approved, though, and so they have remained from the original design.
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It's funny that this came up now. I was by there yesterday and took the liberty of walking around the property a little bit (Rising Sun too). I think the stack functions well as a sign that this property is very alive, which adds greatly to the neighborhood even from a distance.

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  • 2 weeks later...
  • 1 month later...

smokestack.jpg

Join us at The Plant, 60 Valley Street, Providence, RI 02909 on August 30, 2007 starting at 4:30 pm to celebrate the completion of The Smokestack Project and dedicate Gillian Christy's artwork "Embrace". We sincerely thank everyone for supporting this new symbol of life on Valley Street and at The Plant!

Please RSVP by August 27 to Doris at 401-454-3570

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  • 4 months later...

PBN: "United Way to move to Olneyville from East Side"

http://www.pbn.com/stories/29215.html

"CALENDER MILLS, the Streuver Bros. Eccles & Rouse at 50 Valley St. in Olneyville, will be the new home of the United Way of Rhode Island and its United Way 211 hotline."

PROJO: "United Way closer to move"

http://www.projo.com/news/content/UWAY_MOV...10.26ce1dd.html

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  • 1 year later...

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