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m1327 t1_isygiuk wrote

Reply to comment by Locksmith-Pitiful in $29 million tax treaty for 'Superman building' in Providence moves closer to approval by cowperthwaite

$1384/month .. Not that it's much better, but $600 less per month than what you've said.

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sandsonik t1_isynlg8 wrote

You're wrong. $1384 is the price for a studio in one of the small number of units that will be set aside for affordable housing. The market rate for that 400-600 sf studio will be over $2000. $1384 for a studio isn't particularly affordable, IMO.

But worse, it re-sets the pricing bar for all other landlords. Expect $2000k+ to be the new norm for a one bedroom in PVD.

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cowperthwaite OP t1_isyos6f wrote

"Also by comparison, the Regency Plaza apartments on Washington Street range in price from $1,350 to $1,840 for a studio, $1,495 to $2,355 for a one-bedroom, $2,195 to $4,600 for a two-bedroom and $2,390 to $3,245 for a three-bedroom."

From a story on apartments on Atwells:

https://www.providencejournal.com/story/news/local/2022/10/14/21-apartment-units-planned-386-atwells-ave-demand-pushes-projects/10476256002/

According to a listing from realtor.com, at least one of the one-bedroom apartments in the building on Hewitt Street, at 432 square feet, is being rented for $1,825 a month.

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heathervive t1_iszxc6t wrote

I moved to Brooklyn in September from providence after being in providence for 7ish years. I was blown away by the apartments in Brooklyn and how so many were the same price as providence. Def $2k will be the new norm for a 1 bedroom in providence. Its pretty terrible.

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degggendorf t1_itq529i wrote

> You're wrong. $1384 is the price for a studio in one of the small number of units that will be set aside for affordable housing.

How does that make them wrong? The first person said the lowest tier is 2k/month. That isn't accurate; the lowest tier actually is $1,384.

There being too few units in that lowest tier doesn't change that fact that it's the lowest.

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Locksmith-Pitiful t1_isymqsq wrote

"Retail space would make up 27,000 square feet of space, the grand banking hall space another 26,000, and the amenity space for the residential units would take up 72,000 square feet.

The proposed market would vary widely, depending on size:

Studio: $2,071 to $2,289

One bedroom: $2,616 to $3,052

Two bedrooms: $3,706 to $4,142

Three bedrooms: $4,796 to $5,287"

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