Architecture Here and There

Illustrations: Above, view taken from Biltmore Hotel of Waterplace Park, with GTECH at left and Waterplace Luxury Condominiums at right (with edge of Blue Cross & Blue Shield of Rhode Island headquarters just left of rightmost WP tower); below, view from Waterplace condo of GTECH; view from Waterplace condo of State House - note foundation of unbuilt BC&BS below.

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A grand total of five condos have sold since the two towers of the Waterplace Luxury Condominiums, featuring 193 units next to Waterplace Park in downtown Providence, opened in 2008. That bit of news in Saturday's Journal story by Christine Dunn comes as no surprise to me. But, to coin a phrase, "It's not just the economy, stupid!" Some 2,000 condos have sold in Rhode Island since the complex opened. There must be some reason, in addition to the economy, that only five were sold at this complex.

Some evidence for the reason why only five units have sold is on the Web site of the Waterplace. Although GTECH and the Blue Cross/Blue Shield headquarters are its neighbors, the existence of those two features of its environment is barely acknowledged in the project's promotional photography. (Of course, it has no choice but to come clean on its own architectural demerits.)

Of 29 photos that show views of the project, views from the project, or shots of nearby architecture, only one is of GTECH, one you can see it through a window, and only one shows the BCBS building, under construction, which today blocks views of the State House from many units. Of 84 clips in a video montage of the neighborhood and nearby retail and cultural amenities, the camera pans by GTECH only once.

Every shot highlighting Waterplace Park, alongside of which the complex sits, was taken either before GTECH was built or from an angle that excludes GTECH, which sits directly opposite the complex on the other side of the Waterplace basin.

Of course, few people buy housing on the basis of its architectural style, let alone that of its neighbors, but design certainly plays a role in most decisions to some degree. This attempt by the project to draw a cloak over its closest neighbors suggests that it hopes to delay as long as possible the moment when potential buyers will come face to face with the environment they contemplate spending hundreds of thousands of dollars to live in.

The details in the Journal suggest that this ruse has not worked very well.

 Tags  architecture Providence RI real estate Waterplace Luxury Condominiums Westin

Comments

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Joe R said:

As much as I would like to agree with you Bob. I believe the main cause is lack of $$$. Perhaps a few (very few) GTech staffer could live there. Perhaps a larger number of government employees. But more home and more conveniance are available in the 'burbs for much less $$$.

Link | January 25, 2010 7:32 AM
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David Brussat said:

Joe R - You don't have to disagree with me. The main cause is indeed lack of money. My only point is that if the two towers and its neighbors GTECH and BCBS had been designed in styles that more people find attractive, there would be more sales of condos at the towers. In other words, my point belabors the obvious, which I nevertheless think is important. I have nowhere stated that cost and other factors play no role. But style does play a role, and people would rather live in places where they feel more comfy, more homey, etc. I think it is important to point out to developers and other money people that they are shooting themselves in the financial foot when they adopt modernism as an architectural style, catering to a sense of edgy sophistication that does not play a big role in the market.

Link | January 25, 2010 8:51 AM
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Warrington Faust said:

While it is seldom mentioned, in most of the "Condo Docs" I have reviewed (Mass.) there is a provision permitting the majority owners to vote to abandon the condominium regime. I wonder how long units have to remain unsold before the owners question the wisdom of supporting the greater tax burden imposed on Condos and decide they would rather be an "apartment complex".

Link | January 25, 2010 11:44 AM
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