Adaptive Reuse of The Arcade Providence

Deal value: $26,000,000

Acquisition and conversion of historic retail arcade into 48 micro-loft residential units and 20,000 SF retail in Providence, RI.

The core investment motivation is to capitalize on Providence’s strong housing market and persistent demand for urban, affordable living. The adaptive reuse of The Arcade Providence leverages a historic asset to create high-density micro-loft units and modern retail, targeting young professionals and downsizers seeking walkable, amenity-rich environments. The timing aligns with Providence’s outperformance in home price appreciation and limited housing inventory, making this a strategic play on urban revitalization and housing shortage.