PROPOSED: The "Power Block"

[eltron]

So I just re-read this and obviously missed a big piece as I was skimming this this morning.

Look, that's 2 condo towers at the Holiday Inn end of the Power Block. One at the circular gas station site, and one 'elsewhere.'

Wild speculation about the 'elsewhere' one... between Broadway and Dominica Manor on the Federal Hill side of the highway. When Andres Duany was here he was talking about how developers have their eyes on that space. At first one would speculate the Holiday Inn's parking garage, but it specifically says they are looking at a vacant parcel. Anyone else care to speculate about a vacant parcel in the vicinity of the Holiday Inn?

<{POST_SNAPBACK}>

Well, this is all fairly vague, and confusing...

The tower talked about at the Holiday Inn sounds to me like its going on the Paolino triangle site...in the rendering the grassy spot in the foreground could be the little grassy spot in front of the Regency. The 27 stories mentioned for the Paolino site would jibe with the 27 stories in the rendering...

at the same time, the rendering DOES make the tower look like its directly adjacent to a renovated Holiday Inn. Huh.

As far as the vacant land, I would venture a guess as to the Rolo Building off of Pine near JWU or the parking lot right next to the Public Safety Complex at Washington Street and the Service Road. Its been on the market for awhile and I personally think that it is prime real estate. Maybe the Boy Scouts Building at Broad across from Crossroads RI too.

anyone else?

[Cotuit]

27-story condo complex proposed near Holiday Inn

The condos would be built on the site of the former City Gulf gas station, across from the hotel, which would be converted into a Hilton.

BY ANDREA L. STAPE Journal Staff Writer | February 25, 2005

While it's not a done deal, condos could rise from the site of the former City Gulf Station, off Broadway in downtown Providence.

It's a small triangle of land operating as a parking lot, but if the market conditions are right and the Holiday Inn's conversion to a Hilton moves forward, it could become a 27-story condo complex, according to Joseph R. Paolino Jr., the former mayor of Providence, who co-owns the lot with The Procaccianti Group.

"I want to build something there," Paolino said. "But you have to look at the market conditions."

The Procaccianti Group has a clear vision for the $175-million to $200-million development, which it calls The Providence City Center. The building would have underground and aboveground parking for 250 cars, a fitness center and a high-end restaurant, according to a document the company put together for potential investors. The company envisions the building "as the address for upscale downtown living and entertainment."

But development of the lot depends on The Procaccianti Group's transformation of the aging Holiday Inn into an upscale Hilton, Paolino said. The Cranston hotel-development company has moved forward on planning the redesign, but could put the project on hold if it is not authorized to buy the Westin Providence for $95.5 million.

The Rhode Island Convention Center Authority, which oversees the state-owned Westin and the state-owned convention center, is expected to vote on the Procaccianti bid for the Westin on Monday. The Westin is one end of a "power block" The Procaccianti Group would like to develop in the city. Reaching up Sabin Street from the Westin, the block would be bookended by the new Hilton and the proposed Providence City Center.

"If [Procaccianti] does not do the Hilton, it's going to stay the way it is," said Paolino, referring to the parking lot. "I think a lot of other things have to happen, too -- I'm concerned about what's going to happen with the civic center."

Despite the uncertainty over the Westin, The Procaccianti Group has had a lot of "preliminary discussions" with the city and has applied for two easements to move forward with renovating the Holiday Inn, said Thomas E. Deller, city director of planning and development. The company needs clearance to build out the hotel's ballroom over the street that separates the hotel from the Dunkin' Donuts Center, said Deller. It also needs clearance from the city to rip up a street to put in a larger base for the Hilton's new parking garage and condo tower, said Deller.

"Planning has already signed off on it," said Deller, but the company must get approval from other departments such as Public Works before it gets the final OK from the Providence City Council.

"We have seen schematic plans on the [parking] triangle. But there have been no further discussions -- over the last couple of months they've been talking about the Holiday Inn project," said Deller.

In the meantime, although the Westin sale has not been approved, The Procaccianti Group is already planning for the 200-room hotel tower it would have to build next to the Westin once the sale goes through.

The company has already filed for zoning changes with the Providence Zoning Board of Review. It has also met with the body that would oversee design and development -- the Capital Center Commission -- about the approval process, said Deborah Melino-Wender, the commission's executive director.

The Procaccianti Group has plans for another development, a tower full of lofts within walking distance of Federal Hill. The company declined to release the location of the building, since it is still working out ownership issues.

From The Providence Journal

[Cotuit]

This crappy rendering was in the online edition of ProJo with the following caption.

A proposed 27-story condominium complex off Broadway in downtown Providence is shown in the foreground of this drawing. The planned Hilton hotel is in the background.

Obviously this is a highly compressed version of a good rendering, but I can't for the life of me find a good version of it.

[Cotuit]

I agree!

Yes to Westin sale

February 27, 2005

The Rhode Island Convention Center Authority, scheduled to meet tomorrow, has a chance to give a big boost to both Providence and the region by approving the sale of the Westin Hotel to The Procaccianti Group.

This hotel development-and-management company is the top bidder on the state-run Westin Hotel, offering $95.5 million to buy the property, without tax breaks from the city. The company would add a 200-room tower to the hotel, which would greatly help the Convention Center and generally draw business to Rhode Island.

In addition, James Procaccianti, the company's president, has announced plans to create a "power block" from the Westin to the Holiday Inn, already owned by the company. The company wants to spend $150 million to turn the Holiday Inn into a high-end Hilton, with a nationally known restaurant and a new 27-story tower, housing 150 condominiums. Around the Westin and the Hilton would be shops, restaurants and, of course, convention space. Such a plan would also increase the value of the Dunkin' Donuts Center, by linking it to what would become a vibrant area of homes, hotel rooms and commerce.

Mayor Cicilline, for one, is eager to see the sale of the Westin go through and thereby start this process. "It's a very important transaction," he said. "It's the anchor of a much more substantial investment -- and that is obviously very, very important to the city of Providence."

The mayor said that "[a]dding $700 million to the tax base of Providence is incredibly important to me," apparently alluding to the value of would could become the envisioned "power block" investment.

If all of this comes to pass, it will, needless to say, pump enormous vitality into downtown -- an area already enjoying the fruits of the Providence renaissance, with the thriving Providence Place mall, construction of the GTECH headquarters, transformation of the Masonic Temple into a luxury hotel, rehabilitation of beautiful Downcity buildings, and the newly announced 32-story condo tower to go up in the Financial District.

Of course, the Convention Center Authority's primary focus must be on the sale of the Westin, both an excellent project in itself and of great importance to taxpayers for its potential to draw business to the state-run convention center.

It should be noted that the Procaccianti offer for the Westin has brought to light past decisions by state officials to write off millions of dollars in loans involved in the state's 1990s credit-union crisis -- loans unrepaid by The Procaccianti Group and related companies. But The Procaccianti Group has agreed to pay the state $6.53 million, the full amount plus interest of the one loan that the state is still suing to recover.

It is in the strong interest of the public to move forward with selling the Westin -- to take advantage of what appears to be a historic opportunity to boost the local economy. Area residents would benefit richly from the new business brought to town, and from the tax dollars that would flow into both the city and the state.

From The Providence Journal

[billypc99]

Cotuit, I spoke with the architectural firm responsible for the renderings (I forgot the name of the firm, but you need to contact the Dallas Branch). There are currently only two renderings that developers have authorized them to release. I beleive they may also be involved with other devlopments in this area.......However, I have no evidence of this other than what I gathered from a breif telephone conversation

[Liamlunchtray]

BTW, if I were some of the power broker working on the West End/Broadway area (like Armory Properties, etc.), I'd call the Mayor tomorrow and get working on Duany's (sp?) idea of knocking down Cathedral Square and connecting Westminster to the West Side directly over the highway.  There are going to be a lot of people living on both sides of that divide in the future that would love to get back and forth more easily I'm sure!

- Garris

<{POST_SNAPBACK}>

I live in the Armory, right off Westminster and I would LOVE to see Cathedral Square taken down! It could really help move forward the whole revival of the West Broadway neighborhood and open up a lot of opportunities for people. I was thrilled way back when Buddy had announced the concept of decking over the highway with greenspace and what not, but alas Im sure that will never come to fruition. Westminster ST has a lot of greal empty Parcels to the west of I95and some wonderful old industrial buildings that could be used for lofts, or better yet, some new retail. There are a couple of Paolino signs up that say "Lofts coming 2004" not sure what has happened there. I have high hopes for the new WBNA project as well. One thing I would LOVE to see is a restoration of the Storefronts at the corner of Harrison and Westminster. They currently house a strange church of some sort, a braid shop, and a video store. A small cafe or a nighborhood market (like an expanded Hudson St Market) could be wonderful there.

Liam

(Just realized I rambled horribly off topic)

[Cotuit]

(Just realized I rambled horribly off topic)

<{POST_SNAPBACK}>

No worries, welcome Liam!

[Cotuit]

Cotuit, I spoke with the architectural firm responsible for the renderings (I forgot the name of the firm, but you need to contact the Dallas Branch). There are currently only two renderings that developers have authorized them to release.  I beleive they may also be involved with other devlopments in this area.......However, I have no evidence of this other than what I gathered from a breif telephone conversation

<{POST_SNAPBACK}>

If yourself or anyone else comes across anything, please post them, or let me know and I will.

[Garris]

[snip] I was thrilled way back when Buddy had announced the concept of decking over the highway with greenspace and what not, but alas Im sure that will never come to fruition. Westminster ST has a lot of greal empty Parcels to the west of I95and some wonderful old industrial buildings that could be used for lofts, or better yet, some new retail. There are a couple of Paolino signs up that say "Lofts coming 2004" not sure what has happened there..[snip]

Liam

(Just realized I rambled horribly off topic)

<{POST_SNAPBACK}>

There was nothing rambled or off topic about that at all. Especially with people talking about "power blocks" and with Federal Hill getting a lot of development attention, it's really high time to better integrate the West End with the downtown. If I had to put money into the decking idea vs demolishing Cathedral Sq, I'd definitely choose the latter.

Also, I heard the Paolino loft conversions being done there were really quite nice. Are they not coming along?

- Garris

[Cotuit]

Expanded story on the Westin deal

Convention Center board OKs sale of Westin to Procaccianti group

By JACK PERRY projo.com staff | February 28, 2005

PROVIDENCE -- Despite Governor Carcieri's strong objections, the Rhode Island Convention Center Authority board of directors voted 7-1 this morning to approve the sale of the state-owned Westin Providence hotel to The Procaccianti Group.

The only board member who voted against the sale was David Duffy, the authority's chairman.

Carcieri had urged the board to reject Procaccianti's offer and look for another bidder because of the Cranston-based hotel development and management firm's links to the state's 1991 credit union collapse.

"I do not feel the authority should go forward with this transaction," Carcieri told the board this morning, because of "the message" it sends to the citizens of Rhode Island.

Carcieri complained that The Procaccianti Group had millions in outstanding loans that went uncollected after the state's credit union collapse.

The Convention Center Authority, which oversees the Westin and the Rhode Island Convention Center, put the 364-room Westin up for sale in November.

Fifteen bidders expressed an interest, and the board chose The Procaccianti Group, based on its offer to buy the hotel for $95.5 million and put up a $40-million to $50-million, 200-room hotel tower next to the Westin.

The Procaccianti Group owns and manages 23 hotels across the country. The company has said the Westin is a key part of $700 million in development it has planned in Providence.

The board had been negotiating the purchase-and-sale agreement with Procaccianti for two months.

The pending sale was muddled by an 11-year state lawsuit against the company's president, James Procaccianti. Last week, Procaccianti agreed to pay the state $6.53 million to settle the lawsuit, which was filed against him for defaulting on a loan left over from the credit-union crisis.

The board was scheduled to meet last Thursday to discuss the deal but postponed that meeting because Carcieri said he had concerns about the sale.

The governor's wife, however, Suzanne Carcieri, underwent an unexpected quadruple bypass surgery last Wednesday, forcing the governor to cancel his appointments last week.

Board chairman Duffy wanted to give Carcieri a chance to make a statement before the meeting. This morning was the first time the governor made a public statement about his concerns.

Carcieri said he did not come forward sooner because he didn't want to "shoot from the hip." He said his office had spent hours reviewing records related to the credit union collapse.

Carcieri argued that the authority might attract an even better price for the Westin if it put the project back out to bid.

He also acknowledged that Procaccianti had settled the lawsuit last week, but he said millions were still unpaid.

The state has said Procaccianti had $14 million in unpaid loans left over from the 1991 credit union collapse, but Procaccianti was sued for just one loan.

Carcieri said the state no longer has legal authority to collect on the loans, but "there's a legal standard, and there's a moral and ethical standard."

Calling the credit union crisis a "deep wound" that still hasn't healed, Carcieri noted that the problem cost taxpayers $300 million.

Board member Paul MacDonald spoke in favor of the deal before the vote.

"This opportunity we have in front of us is a great one," he said. "I'm in favor of selling this now because it will bring more jobs, more prosperity."

A consultant told the board it might not get as good a deal for the property if it were to reject The Procaccianti Group's offer and put the hotel back out to bid.

"I don't want to mislead the board that they can take this purchase-and-sale agreement and just slide it in front of somebody else," the consultant, Matt Kenney, said.

After listening to a few more comments, the board quickly cast its vote. One member was missing from the nine-member board.

The Westin deal is now scheduled to close on March 31.

From The Providence Journal

[Liamlunchtray]

Also, I heard the Paolino loft conversions being done there were really quite nice.  Are they not coming along?

- Garris

<{POST_SNAPBACK}>

Unless there is work being done that isnt apparant from the street, it really doesnt look like any progression hs been made at all. The "Lofts 2004" sign wen up last spring if memory serves and then I saw some activity over there for a month or so last summer and then nothing in quite a while. I will have to take a closer look next time I drive by. I've been amazed at the number of Condo conversions going on. The Slumlord who owns the house behind us on Dexter ST finally realized that fixing it up could net him more cash than getting $400 a month from illegal aliens and forcing them to live in squalor. Its been turned into 6 units with each gong for around $190k. He seems to have done a pretty half assed job though, and they dont seem to be selling very quickly. The house was a blight on the neighborhood so Im glad to see at least some money being put into it.

Liam

[glassandsteel]

Well I suppose that makes it pretty official, we're in line for four new highrises from the Procaccianti Group now that they are in position to buy the Westin. I suppose their strategy is to throw all these up before competition gets much of a foot in. It makes sense. With all of these proposals for luxury housing in Downcity, Capitol Center (which will go from largely vacant to mostly built-out in a couple years), and Federal Hill, it could flood the market well enough to keep off other developers until these have made enough money back to develop more. My concern is that there isn't a single "affordable" development on anywhere near this large of a scale. I would like to have hope for the Jewelry District but once the land from the 195 relocation clears up then I'm anticipating that it will once again be commercial and high-end residentail. I don't think that most developers take the time to think about it, but impressive-looking, profitable, affordable, living space can be built downtown and you would have access to a market that has no competition. Unfortunately I'm not in a favorable monetary position to take action on this, nor do I currently have any educational paperwork sufficient enough to even begin to move into any position of decision-making process, but the money is there. A partnership with AS220 (or start of new, similar entity) could be achieved with this sort of project and would not only make for untouchable publicity (not to mention that ground floor space will automatically have a profitable use) but probably enough incentives to make your own mother jealous. Of course, I'm just some dude so I'm not in any position to do this myself but it's do-able. Now is probably the best time to break the mold on urban development patterns. It's Providence, with enough careful planning, you can make it work. It's better than a beautiful downtown for the rich and nobody but the rich.

[AriPVD]

Check out the ArtSpace organization of Minneapolis. They do just that and they've been around Providence a few times looking for space. And although it's too early to say, Cornish has been looking into more affordable projects downtown, like the Smith Building. Unfortunately a) the cost of rehabilitation of these old buildings is prohibitively expensive and b ) longtime downtown property owners (like Pierre DeBourgenecht of the Old ProJo Building and the Lapham Building) know that they can get a mint for these buildings now. Makes affordable development very tight, which is why it's best left for the not-for-profits.

Also, not to be a cynic, the Proc. "Power Block" could've easily been a political maneuver. This is Rhode Island, after all. We should believe it when we see it.

[Cotuit]

Not everything has to be an expensive rehab, there are plenty of parcels Downcity and throughout the city that could (should) see new buildings on them. Duany touched on this during his charrette last year. He floated the idea of subdividing parcels and allowing small developers and contractors a crack at developing housing and live/work spaces on them. There haven't been any new triple deckers built in the city in a long time, there's no reason why there can't be. Not everything has to be on the scale of the projects we are seeing on Federal Hill for instance. Some city program to match property owners with eager developers may help things. And some strategic emminent domain takings for recalcitrant property owners may be needed.

[AriPVD]

Oh I TOTALLY agree, Cotuit. Providence doesn't have many brownstones at all, which are an amazing urban morphology and could definitely add alot to our built environment. Not to mention, they can be subdivided to provide a bunch of affordable apartments or can be used as a single-family. Very versatile.

[eltron]

Oh I TOTALLY agree, Cotuit.  Providence doesn't have many brownstones at all, which are an amazing urban morphology and could definitely add alot to our built environment.  Not to mention, they can be subdivided to provide a bunch of affordable apartments or can be used as a single-family.  Very versatile.

<{POST_SNAPBACK}>

Unfortunatly, I would be amazed if we see anything even remotely resembling a classic "brownstone" built again in the Providence area. They are just too darn expensive to build with the detail and solidity of the old days. The classic new england triple-decker, however, could be making a comeback if the city makes the necessary changes to the zoning ordinance.

I have many many thoughts on ideas for affordable development downtown and the near downtown areas that I would love to expound on when I get more time, and I am eager to continue the discussion with you'all.

Oh yeah, and AS220 is currently developing live/work space in a new building they have acquired on Washington Street. Not much compared to the numbers of luxury units going in, but its something.

[Cotuit]

This is from a thread about Philly developments in the Pennsylvania section:

Some much needed new residential and retail development at 40th and Chestnut st.

The buildings are 7 stories tall and will be completed in 2007.

<{POST_SNAPBACK}>

I don't know if this is affordable, or market rate or what, but I really liked it, and could see it in Providence.

[Cotuit]

This is also from Philly:

New development in north philly.  First phase 144 new townhouses to open in the spring.

<{POST_SNAPBACK}>

Looks nice, Plenty of empty lots on the West Side for this kind of development.

[provid]

Sources say this job ( Holiday Inn ) is currently on hold. Don't know why.

[Mij]

Sources say this  job ( Holiday Inn ) is currently on hold.  Don't know why.

<{POST_SNAPBACK}>

Did this job ever get city approval?

I do remember Procaccanti saying that he would not go any further until he had the WESTIN.

[provid]

We'll its not moving at all right now ( on any level )

[Cotuit]

Sources say this

[pdxstreetcar]

Of course one could speculate that they made this big announcement about the Power Block to seal the deal on the Westin, now they're going to take their sweet time looking for funding and actually building the damn thing. Though funding seems to not be too much of an issue since they may be bankrolling Mesolella on the Fogarty Building site.

I was thinking that too, but at least the new Westin tower is in writing. And there does seem to be demand for hotels downtown.

[Garris]

Of course one could speculate that they made this big announcement about the Power Block to seal the deal on the Westin...

<{POST_SNAPBACK}>

This was my original speculation... I wouldn't be surprised to see the other elements of the "power block" ah, slip, a bit...

- Garris

[pdxstreetcar]

Bill Herron's Providence Urban Planning Blog has a great image/rendering of the new Westin Hotel Tower:

http://www.bilherron.com/urblog/p/westin-full.jpg

I really like that design (and I think many others do too).