COMPLETE: RISD Moshassuck Square

[Frankie811]

RISD leases Moshassuck Square Apts.

http://www.pbn.com/stories/26009.htm

[brick]

RISD leases Moshassuck Square Apts.

http://www.pbn.com/stories/26009.htm

[Garris]

...but man it seems unfair that every possible outlet for people to spend less than $15/s.f. per month to rent near DownCity Providence is being taken away. I guess it could be interpreted as good news for Capitol Cove, assuming the demand remains.

[Cotuit]

This is far from PROPOSED, it's more like COMPLETE. There will be a transition process, but it's well underway.

[MikeR]

One of my co-workers lives here and she found out yesterday that her lease is being terminated so RISD students can move into her apartment. She is really upset; considering she just moved in the place in January and signed a 5-year lease.

[prudence]

One of my co-workers lives here and she found out yesterday that her lease is being terminated so RISD students can move into her apartment. She is really upset; considering she just moved in the place in January and signed a 5-year lease.

[CtownMikey]

Why doesnt RISD build new dorms? Am I wrong or do I remember having dorms on the most recent voting ballot for a bond approval..

[Frankie811]

Why doesnt RISD build new dorms? Am I wrong or do I remember having dorms on the most recent voting ballot for a bond approval..

[brick]

The article says they aren't kicking anyone out and just not renewing leases, which would suggest she could stay for her whole term.

Who signs a 5 year lease anyway? That's a very long time to commit to a rental.

[Cotuit]

Let's not forget the fact that this goes from a property that contributes to the tax base to one that doesn't, although I'm sure RISD will do their part with the voluntary contribution or whatever it is called.

[CtownMikey]

Yes, you are wrong. Why would a private college need a bond approval from the public? Your probably thinking of URI. I'm sure it's much less expensive to buy this complex than to build a new dorm building.

[Cotuit]

Only public institutions can raise money through public bonds. RISD would not be able to do that.

[prudence]

Only public institutions can raise money through public bonds. RISD would not be able to do that.

[Mothra]

I can't imagine a scenario where Providence voters would support a bond to build dorms at a private and lushly endowed private university.

[markOne]

I can't imagine a scenario where Providence voters would support a bond to build dorms at a private and lushly endowed private university.

[Mothra]

Where does Rhode Island College fall on that list?

[runawayjim]

Who cares?

Why do we feel on this site a compelling need to bash others that we don't even know for their feelings or opinions? She signed a lease and is now being asked to leave. Unless she or MikeR is lying those are the facts. I would be upset in that person's situation.

[Frankie811]

The Rhode Island School of Design

[mr2448]

while i don't understand the need to bash either, it's a rental. with a rental, there is inherent risk, that being the possibility of not having your lease renewed. that being said, no one is being kicked out without notice. those who have current leases will have those leases honored to term, or at least that's all we can infer from the article that said that leases will just not be renewed.

[runawayjim]

Rather than new dorms, I would prefer students receiving a stipend to use toward their living space. There are plenty of rentals throughout Providence and students could fill that space very easily. The student could pick where they want to live; Broadway, East Side, Pawtucket, So. Providence, etc. Too many apt. buildings have been bought up by schools or completely rented out to a school; J & W and RISD for example.

Vacant rental property in "owner occupied multi family housing" needs to be filled before dorms are built. These home owners are the core of the city tax base and they have made a commitment to the city. They need the rental income to pay for the high Providence tax needs.

Mark

[Liamlunchtray]

Rather than new dorms, I would prefer students receiving a stipend to use toward their living space. There are plenty of rentals throughout Providence and students could fill that space very easily. The student could pick where they want to live; Broadway, East Side, Pawtucket, So. Providence, etc. Too many apt. buildings have been bought up by schools or completely rented out to a school; J & W and RISD for example.

Vacant rental property in "owner occupied multi family housing" needs to be filled before dorms are built. These home owners are the core of the city tax base and they have made a commitment to the city. They need the rental income to pay for the high Providence tax needs.

Mark

[Mij]

But is there actually any issue in the city of owner occupied multi's sitting vacant for lack of tenants? I know that the apartment I rent out in my house has never sat empty for more than a month in the 7 years I have owned the house and we have had 4 different tenants. When I have a vacancy I post it on craigslist and get a steady stream of inquiries. I think that if you are having a hard time renting out a place you are over priced or you have over renovated it. Tossing in some granite and cherry isnt going to automatically double your renting price.

[Frankie811]

Colleges boost campus housing.