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  #61  
Old Posted Aug 6, 2006, 9:17 PM
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Something decent will eventually go up on that site. Offices? Maybe not, but if not offices definitely condos. Providence is ripe for some highrise activity after all the dormant years between the completion of the first Westin tower (1993) and the start of the GTECH building (2005).
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  #62  
Old Posted Aug 8, 2006, 9:49 AM
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i found this rendering of Westin today
but seems that's an older design of it.


.
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  #63  
Old Posted Aug 8, 2006, 10:02 AM
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Looks awesome!
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  #64  
Old Posted Aug 8, 2006, 7:35 PM
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ah, that does look awesome. providence kicks ass.
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  #65  
Old Posted Aug 9, 2006, 4:28 AM
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Quote:
Originally Posted by loodog
Taken from:
"http://www.projo.com/business/content/projo_20060806_office06.1a8881f.html"

Building up downtown


After a long drought, the Providence market is about to be flooded with new office space

01:00 AM EDT on Sunday, August 6, 2006

BY ANDREA L. STAPE
Journal Staff Writer

The plan calls for spending $200 million to build 496,000 square feet of office space in a 22-floor tower.

The Procaccianti Group last month unveiled an ambitious agenda to replace the former Providence police and fire station, a downtrodden building with broken windows and a broken spirit that it bought from the city for $3 million. If the La Salle Square tower comes to fruition, it will be the largest office building in downtown Providence.

At the same time Procaccianti is proposing the new office tower, it is renovating 33,000 square feet of now-vacant office space on two floors at 111 Fountain St., across from the Rhode Island Convention Center.

And about 55,000 square feet of brand new office space is up for lease in the city's first office building in 16 years -- two floors GTECH Holdings Corp. won't be using in its new headquarters going up across from the Providence Place mall.

After an extensive drought, it seems like the Providence market is about to be flooded with new office space.

The surge addresses a need, say local commercial real-estate experts, since over the past few years there has been interest from large tenants in moving into downtown, but no contiguous office space that could accommodate a big, relocating tenant.

The vacancy rate for Class A, or high-end, office space in Providence is low, about 12 percent, according to a report by Hayes & Sherry, a Providence-based commercial real-estate firm. It's Below the national vacancy rate, which was about 13.6 percent at the end of last year, according to the National Association of Realtors.

However, expressing interest in moving downtown and making a commitment to lease 50,000 or 100,000 square feet of Class A office space are two different things.

The question remains: Can Providence actually draw new office tenants with a need for a large amount of high-end space into the city?

"I do think that if there were options that were coming online, there would be more people taking a serious look at Providence," said Peter Hayes, a broker with the Providence office of Hayes & Sherry.

BUT JUST having new space may not be enough to seal a deal.

It took a lucrative 20-year lottery contract with the state to convince GTECH to move its corporate headquarters, and about 700 people, from West Greenwich to Providence. The company plans to move into the building, on the corner of Francis Street and Memorial Boulevard, at the end of the year, taking over all but two floors.

For the Procaccianti tower to become a reality, there will have to be a similar situation, according to local real estate experts.

"Clearly, the Procacciantis have a challenge to put a tenant in the building -- ordinarily these buildings don't come out of the ground without a tenant," said Charles Francis, president of C.B. Richard Ellis Rhode Island, a commercial real estate firm.

In today's market, developers just can't afford to build speculative office buildings, said Dick Galvin, president of Commonwealth Ventures, one of the co-developers of the GTECH office building.

While Providence has seen a resurgence in recent years, with high-end condominiums being built and additional hotels dotting the skyline, the market still isn't so red-hot that developers are willing to take the risk that they could get stuck with an empty building, he said.

"Unlike other markets, there's not going to a be a rash of new announcements -- you're just not going to see a rash of spec office space," said Galvin.

In addition, the high cost of construction materials and fuel is putting a damper on speculative office construction nationally, according to the Realtors group.

Procaccianti, however, says it's "bullish" on the Providence market. The company points to the condos going up in the city -- some of which the company is building just a block away from its proposed office tower -- as magnets for business.

"There is a vitality in the city. I think there are opportunities where smart-thinking, green-thinking companies want to get close to the universities and the wealth that is in the city," said Tom Niles, executive vice president of development for Procaccianti. "I'm not saying it's going to be a neutron wave, but I think it's going to be a slow, steady wave."

For now, trends in the industry are pointing to additional interest in downtown office space after years of companies choosing sprawling suburban office campuses over urban life, according to regional real estate experts.

Over the past couple of years, Boston has seen a number of companies -- including the consulting firm Accenture and publishing firm Pearson Education -- move back to the city from the suburbs, said David Fitzgerald, executive vice president and partner of C.B. Richard Ellis in Boston. During the second quarter of 2006, vacancy rates for office space in downtown Boston were under 10 percent, according to a report by C.B. Richard Ellis.

"So many young professionals like to live in an urban environment. So the businesses that had moved to the suburbs, if they are competing to get the best people, are saying, 'Let's move back' " to where the employees are, said Fitzgerald.

In addition, smaller companies are giving up office space in the city's financial district to move to Back Bay to be closer to where people are living, he said.

"The high-end hedge funds and some of the money managers have also chosen to go to the Back Bay and I think that's because a lot of the empty-nester owners of these businesses are living in the city and are choosing to walk to work," said Fitzgerald.

In Providence, Commonwealth Ventures has seen businesses filling up smaller amounts of space in One Financial Plaza, a building the company co-owns just blocks from GTECH headquarters. Recently, Commonwealth has signed leases with Oracle and Oppenheimer, said Galvin.

Plus, Fidelity Investments recently spent $13.9 million to renovate a vacant office building next to the Providence train station and moved 325 people into 113,000 square feet of space. Galvin's company on Wednesday bought the building for $20 million.

"In the Northeast, it's all a function of labor pool and jobs," said Galvin. "I think there is a growing trend towards people wanting to be in urban areas so they can access all the amenities of urban living," which will cause companies to follow, he said.

WHAT HAPPENS with the two floors Galvin is leasing in the GTECH building and the two floors at 111 Fountain St. over the next year or so could give some insight into what may happen with the proposed Procaccianti tower.

Galvin is looking to lease about 55,000 square feet of office space on two floors, at the top of the new modern, glass GTECH building downtown. The lease rate for the two top floors of the building will be the most expensive on the Providence office market, $38 and $40 a square foot, according to a study of Providence's commercial real estate market by Hayes & Sherry. GTECH will be the primary office tenant, and will have its name on the building.

Commonwealth Ventures does not yet have a taker for the top two floors, although it is in preliminary discussions with several parties, said Galvin.

"We want to have someone in the first or second quarter of next year. . . We've got to get GTECH in and happy," said Galvin.

Procaccianti doesn't have a tenant for the yet-to-be-renovated Fountain Street property either, although it is talking to some in-state tenants, said Ralph Izzi, spokesman for the Procaccianti Group.

The company also sees a market in businesses interested in moving their people out of a variety of buildings across the city into new space in one main property, said Niles.

But while Procaccianti says it's bullish, the development company has also been careful to give itself plenty of time to find a tenant. It doesn't plan to finish the proposed tower at the former public safety site until 2010.

"For years, we have had no new product [in Providence]. Now, with GTECH and Procaccianti there will be competition to see if these buildings fly," said Francis. "We have a better shot than ever of getting someone from out of state with all that's going on."




I can't imagine there being a market for so much upperscale office space. There have been previous proposals for the old police/fire station including the dreaded hotels and condos and they've all seen the shredder. The only possible way I could the demand would be pulling companies from Boston with the appeal of cheaper space and a lower cost of living, except RI has a higher sales tax.


Anyone else have thoughts on this?
Does anyone know how tall this is suposed to be?
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  #66  
Old Posted Aug 10, 2006, 2:48 PM
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I'm a bit confused as to why they say it's going to be the largest office building. At 22 stories, it's smaller than One Financial Plaza, at 30 stories, "The Superman Building" at 28 stories, and Textron at 23 stories. I don't think its width would make up for the lost height.
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  #67  
Old Posted Aug 14, 2006, 2:29 PM
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Does any one have these building in 3D for google earth?
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  #68  
Old Posted Aug 14, 2006, 3:30 PM
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I love both of those Westin renders. they look great!

Come to think of it the one posted above resembles
Milwaukee Center quite a bit but i like just the same...
almost better than the one they're going with - i dig the spire.
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Last edited by BANKofMANHATTAN; Oct 3, 2006 at 3:46 PM.
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  #69  
Old Posted Oct 3, 2006, 5:48 AM
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Update on One Ten Westminster: the 520 ft tower project has been delayed a few months for a W Hotel to be designed into the bottom portion of the tower and replacing many floors of the less desirable lower floor condos. The top floors will continue to be luxury condominiums. Construction is expected to start around November 15, 2006. Tower appearance and height stay the same. It appears that the tower will be a much better product with this addition!!!!

For Much More Info:
Urban Planet: 110 Westminster (page 56)
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  #70  
Old Posted Oct 24, 2006, 2:06 AM
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I took a hard hat tour of Waterplace a few weeks ago. Here's a photo from the 10th (of 19) floor showing the nearly complete GTECH Center, and the fast rising second Westin Tower.



A photo of the model. The non-detailed models are place holders for Phase II.

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  #71  
Old Posted Oct 24, 2006, 2:12 AM
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A progress photo on GTECH:


GTECH from Union Station Plaza:


GTECH had a ribbon cutting last week, but the employees actually move in next week. A Fidelity office has already relocated from the mall to the first floor though.
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  #72  
Old Posted Oct 24, 2006, 2:58 AM
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Some Providence pictures from this past March, which means some of them are outdated but better then nothing

RI Convention Center



Shepard Building at URI (downcity)


Waterplace Condominium Tower Site


RI Credit Union near the capital


Westminster Street Lofts
Some Providence pictures from this past March, which means some of them are outdated but better then nothing


GTECH, Westing and Providence Place Mall


GTECH and the Providence Place Mall


Interior of the Providence Place Mall



Westin Hotel construction (tower II) next to the Providence Place Mall



The Cosmopolitan


110 Westminster Site




Masonic temple renovation and conversion into Renaissance Hotel


2 Thomas Street


Hotel Providence


Holiday Inn Downtown & Dunkin Donuts Center


RISD Center for Integrative Technology


Rising Suns Mills



The Foundry




The Providence Fruit Packaging Warehouse (set to be redeveloped) followed by The 903 (formely the Jefferson - an apartment to condo conversion) and then the Foundry


Providence Fruit and Packaging Warehouse


Eagle Square




Some new residences next to Riverview Place on the east side of College Hill


Conleys Wharf at Providence Piers


Dreyfus Hotel renovation


Fleet Library at RISD


The 903



Mowry Nicholson House


Public Safety Complex

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  #73  
Old Posted Oct 24, 2006, 3:17 AM
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And now some already established Providence things

Downcity skyscrapers from the Westin



Downtown from College Hill


RI State Capital



State Offices across from capital


Trinity Repertory Theater


Turks Head Building


City Hall


Courtyard by Marriott Downtown


10 Weybosstet St


Biltomore Hotel


Pell Chaffee Performing Arts Center


Kennedy Plaza


One Citizens Plaza


Abbot Park at Johnson and Wales University


Merchants Bank Building


Union Station


Trinity Brewhouse


Providence Public Library


Federal Hill - Atwells Ave - LITTLE ITALY




Last edited by ctman987; Oct 24, 2006 at 3:23 AM.
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  #74  
Old Posted Nov 2, 2006, 1:42 PM
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Many good pics here. Would you mind if I put a few of these on wikipedia?
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  #75  
Old Posted Nov 2, 2006, 5:57 PM
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Providence is looking great. My boyfriend and i may up there within a year. He's just been accepted to the PhD program at Brown. Now, we need to figure out what the heck i'm going to do up there.
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  #76  
Old Posted Nov 10, 2006, 2:02 PM
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Does anyone know when One Ten is going to start to be built?
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  #77  
Old Posted Nov 10, 2006, 11:56 PM
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Quote:
Originally Posted by loodog
Many good pics here. Would you mind if I put a few of these on wikipedia?
Im sorry it has taken me so long but yes you may use them on Wikipedia
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  #78  
Old Posted Nov 12, 2006, 6:31 PM
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Quote:
Originally Posted by portugalplayer
Does anyone know when One Ten is going to start to be built?
Apparently by the end of the year, there have been some delays as the interior is redesigned to incorporate a W Hotel. It is also being renamed W Hotel & Residences.
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  #79  
Old Posted Nov 17, 2006, 3:43 AM
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Quote:
Originally Posted by pdxstreetcar
Apparently by the end of the year, there have been some delays as the interior is redesigned to incorporate a W Hotel. It is also being renamed W Hotel & Residences.

So are you saying that the Westin Hotel is going to have three buildings, The Westin Hotel, The Residents(the one being built now right next to the westin) and One Ten Westminster?
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  #80  
Old Posted Nov 22, 2006, 2:56 AM
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Quote:
Originally Posted by portugalplayer
So are you saying that the Westin Hotel is going to have three buildings, The Westin Hotel, The Residents(the one being built now right next to the westin) and One Ten Westminster?
The Westin will have two buildings, the original and the new tower with more hotel rooms and condos.

OneTen Westminster is a completely different project, located on Westminster Street, 110 Westminster Street. It was to be all condos, but the W Hotel has stepped in and the bottom half will be a W Hotel, the top half will be condos. Latest I'm hearing for construction to commence is February. But perhaps some foundation work before then. There's some redesign to do to incorporate the W Hotel into the existing design and various funding arrangements to work out.
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