Downtown Providence now a place to work, play and live - The Providence Journal

The neighborhood, not including the Jewelry District, almost doubled in population between 2000 and 2010 — from 2,678 people to 4,569. At least six buildings have been renovated into mixed-use developments and apartments since 2010, and they are practically full.

“What we know is we need more people,” said Steve Durkee, a resident, architect, Eddy Street building owner and developer. “We need more housing…. That is what it’s going to take to stabilize this area.”

Why Providence Is the Country's Best Small City - Architectural Digest

Historic spaces are being reborn all throughout Providence but nowhere more dramatically than downtown. As recently as a decade ago, the area was eerily desolate, a seeming stage set of edifices left over from the city’s early-20th-century heyday as a center of the jewelry, textile, and silverware industries. Now the streets hum with pedestrian traffic. This past fall, the Arcade—America’s oldest indoor mall, built in 1828—reopened as a retail hub and loft complex. Nearby is the Dorrance, a restaurant in the lobby of a 1901 former bank building, where the stained-glass windows and gilded 30-foot ceilings make for a splendid setting in which to enjoy Plymouth Rock oysters and other New England specialties.

Living downtown a draw for next-gen talent, jobs - Providence Business News

Some have questioned the value of residential and mixed-use developments in downtown and other parts of Providence. Their question: “Don’t we need jobs, not housing?” The answer: Residential and mixed-use projects will produce jobs, as well as other long-term benefits to our city and our state.

Projects such as those planned at The Foundry, the Kinsley Building, and even the Industrial Trust Building at 111 Westminster (aka the Superman Building), are needed to support a strong and comprehensive economic-development strategy.

Developers Turn Former Office Buildings Into High-End Apartments - The Wall Street Journal

Historically, office space has commanded substantially higher rent than residential space. But that is starting to change, especially for older buildings that have lots of architectural charm—often located in urban downtowns—but are no longer desirable as top-notch office space.

At the end of 2013, the U.S. apartment vacancy rate stood at 4.1%—the lowest since the end of the dot-com boom in the early 2000s, and below its 5.7% average rate since 1980, according to an analysis of 50 top markets by property-data firm Reis Inc. Meanwhile, the office vacancy rate was 16.7%—only a nudge down from the 17.6% post-economic crisis high reached in 2010 and well above its average of 14.9% since 1980.

10 Light St. office tower sells; will be converted into 445 apartments - Baltimore Business Journal

The 34-story 10 Light St. tower is the longtime home of law firm Miles & Stockbridge PC. The firm, which leases 120,000 square feet, is moving next year to the nearby 100 Light St. tower, effectively leaving 10 Light St. vacant.

[...]

The downtown rental occupancy rate surpasses 90 percent, and a report commissioned by Downtown Partnership estimates the neighborhood needs 5,800 new residential units by 2017 to meet growing demand for housing.

Mayor Stephanie Rawlings-Blake in a statement said the redevelopment of 10 Light St. "addresses ... my top priorities for downtown." Rawlings-Blake has set a goal to bring 10,000 new families to the city.