I’ve yet to see anything like this: As shopping moves online, the malls that flourished from the 1960s to the 1980s are gradually closing down. The Arcade Providence, the first shopping mall ever erected in the U.S., succumbed to same fate about 200 years after it was first built in 1828.
But rather than knock down the structure — with its historic arcades, glass skylight, granite steps, and ionic columns — developer Evan Granoff turned the former Providence, Rhode Island, landmark into a mixed-use building featuring apartments, which opened its doors to residents in October 2013. In the most recent news about the mall, Granoff announced in January 2020 that units would be up for sale to tenants. This article was updated in April 2021.
It is difficult to convert shopping malls and their parking lots into other kinds of services due to the sheer size of these types of buildings. In other towns and cities, the malls that have been abandoned fall into disrepair and are forgotten. In some other locations, real estate developers are becoming inventive in order to get the most out of areas that formerly had a lot of foot traffic.
The Arcade is a shopping center that was constructed in the 1800s and is located in Providence, Rhode Island. It held the record for being the oldest retail mall in the United States that was still open. Despite this, a steady stream of retailers exited the building. The structure has undergone numerous renovations and repurposings of its space over the course of its existence; nonetheless, for a while, the building’s second and third levels were devoid of retail establishments.
According to a study that was published in 2016, its proprietor collaborated with a development agency to keep retail space on the first level, build a common area on the second and third levels, and create microapartments on the second level.
In its most basic form, The Arcade is a rooming house. This indicates that the apartments do not have ovens or ranges, although they are permitted to have mini refrigerators and microwaves. The apartments range in size from 225 square feet to 775 square feet, which is adequate living space for one or two people depending on your preference.
Either the tenants can choose to do their washing in the communal space or install a compact washer and dryer in their individual units. People who prefer a simple lifestyle and do not want the headaches of keeping a home and yard will find these flats to be an excellent option. They are also great for people who are constantly on the move.
It would appear that the people who live at The Arcade like living in their community. They are afforded the opportunity to reside in a central location that is both handy and inexpensive. Access to the residential areas is restricted, and one must have a specialized key fob in order to gain entry. Because the apartments come with built-in furniture, residents do not need to spend a significant amount of money furnishing their new place when they move in.
This could be the perfect option for someone who wants to minimize their living space but still appreciates being around other people. According to an article that was published in the Providence Journal in January 2020, Granoff and his development business were planning to convert several of the apartments into condominiums and then put them up for sale. Purchase options are available for both business and residential properties, however current renters are free to remain in their spaces if that better suits their needs.
Granoff stated, “I am anticipating that a large number of people who are renting in the building right now would buy the units that they are in because it will make economic sense for them.” As of the beginning of the year 2020, monthly rates range from approximately $925 to $2,000, while the price of a residential unit might be as low as $130,000.
The shopping center had been out of commission since 2008 when Granhoff’s began the renovation of the property in 2012. What are your thoughts on the manner in which the developers turned this mostly abandoned mall into a facility that accommodates a variety of uses? Would you prefer to live above a retail mall or in a mall that has been transformed into apartments? Would you be able to make this way of life work for you? Share with us what you’re thinking!
The shopping center had been out of commission since 2008 when Granhoff’s began the renovation of the property in 2012. What are your thoughts on the manner in which the developers turned this mostly abandoned mall into a facility that accommodates a variety of uses? Would you prefer to live above a retail mall or in a mall that has been transformed into apartments? Would you be able to make this way of life work for you? Share with us what you’re thinking!
