Real Estate in Providence
Things to do
Are you considering investing? Your dream is about to come true with Providence, RI real estate
When people think of investing in real estate, their first choice is usually big states because of their vastness. However, you should also know that the small states in the United States have a lot to offer in the business. One such state is Rhode Island, and the Providence, RI real estate market is one of the best to consider.
What the city lacks in scale and profile, it makes up for in spirit, style, a creative community, a rich architectural interest, and top-notch restaurants. The city has received numerous awards, such as the third favorite city in the U.S., the best city for food enthusiasts, and the fourth quirkiest city in America.
Providence, RI real estate should be at the top of your list in your investment goals because the city will surprise you with its potential. Come to Providence, Rhode Island, and invest in real estate before it’s too late.
History of Providence
History of Providence
Providence is one of America’s oldest cities that became the pride of Rhode Island in the early 17th century. Roger Williams, the founder of the city in 1636, left Massachusetts Bay Colony to seek religious freedom because he was facing religious persecution. He purchased land from the Narragansett Indians and started a new settlement with the goal of political and religious freedom for all the residents. Williams named the new settlements “Providence” to thank God for protecting him during his exile. Providence became a major seaport in the New World because it was easily accessible by water. For instance, merchants and artisans supplied the Continental and French armies with goods during the Revolutionary War. By 1781, businesses in Providence started to finance expeditions in the Middle East, the Mediterranean, and the Far East. Providence grew significantly and flourished in the 1800s because of the booming trade, resulting in the development of brick mansions. Elaborate testaments such as the Rhode Island State House and Providence Public Library also began in the 1800s. While the city experienced some challenges, such as the Great New England Hurricane of 1938, it continued to flourish with new infrastructure. Today, Providence boasts of a flourishing academic community and culture.
Things to do in Providence
Things to do in Providence
Do you love history and architecture? Providence will sweep you with its historic architecture when you walk the cobblestone streets. Visit the Rhode Island State House by walking down Benefit Street and see the Rhode Island Royal Charter, handwritten in 1663. You will also see the original George Washington portrait, found on the one-dollar bill.
Walk down the street, and you will also see the world’s fourth-largest self-supported marble dome. You shouldn't miss the Providence Athenaeum, where you will get a tour of the special collections housed in one of the country’s most remarkable libraries. Moreover, it would be best if you explored the beautiful New England scenery by enjoying panoramic views of Providence at Prospect Terrace Park.
Outdoor activities are endless in the city, and you can visit Roger Williams Park, a massive 435-acre land that will entertain you exceedingly. You will ride the carousel, go boating on the lake, visit the indoor botanic gardens, and feed giraffes at the zoo. The Museum of natural history is also located in the park, and you will learn about the city’s history.
We cannot forget about the city’s unique and delicious foods that will expand your imagination. Federal Hill is one of the top culinary destinations in the United States, where you can get your fill of Italian foods. Visit the oldest shopping mall in the country, Arcade Providence, where you will get incredible drinks. A thriving farmer’s market and local food scene in Providence will give you an experience of a lifetime by offering you locally-sourced foods.
Providence limits encompass a small geographical area. The region has a total area of 20.5 square miles. Approximately 10 percent of the site is water, while the rest is land. Providence sits at the head of the Narragansett Bay, and the Providence River runs through the city’s center. The Woonasquatucket and Moshassuck Rivers form the confluence of the Providence River, which transformed in the late 20th century. Providence is one of the numerous cities that claim to be founded on seven hills like Rome. Some of the hills include Federal Hill, Smith Hill, Constitution Hill, and Christian Hill at Hoyle Square. Providence is a short train ride away from Cape Cod, New York City, Boston, New Haven, and Plymouth. The city has an elevation of 80 feet above sea level, and its location gives the city a humid continental climate.
Providence is the most populous city in Rhode Island. According to the United States Bureau of Statistics, it has a population of 190,934. It is the second-most densely populated city in the United States after New Jersey, with 9,676 residents per square mile. Approximately 30 percent of the residents are foreign-born, which affirms the welcoming nature of Providence.
Providence is a multicultural community, and it is one of the most diverse in the United States. There are five major ethnicities in the city, including Blacks, whites, Hispanics, Asians, and people of Two or More Races. 30% of the population is white (non-Hispanic), while African Americans make up 16%. Hispanics or Latinos make up 43% of the residents in the city, while Asians make up 5.6 percent of the population.
Most households in the city have a median income of $49,065, and approximately 23 percent of the population are considered persons in poverty. Additionally, only 37 percent of the housing units are owner-occupied, with the median value of housing units going at $225,200. This means that the potential for real estate investment is increasing in the area.
Arts in Providence
Arts in Providence
Providence has a thriving cultural community, an incredible history, and beautiful parks that contribute to arts and entertainment in the region. Providence is known as “The Creative Capital” because it makes the dreams of art enthusiasts come true. For instance, AS220 is an open art forum and an art community in the city, which provides artists with resources such as stages, gallery space, and darkrooms. The art community offers young people the opportunity to experience and learn about creative programs.
AS220 has become a significant egalitarian enterprise because it offers art, community building, and food. The art community’s mantra ensures that art is uncensored and un-juried, giving residents the freedom to explore and experiment with arts. Its popularity has increased significantly, and artists have to wait for up to two years to get the chance to put a show in the various crannies, galleries, and hallways. The Providence Department of Art, Culture, and Tourism continue to ensure the development of a creative culture in the city.
Providence’s arts community and diverse neighborhoods make it a small city but with a huge impact. Entertainment comes from art, food, events, and sophistication in the city. For example, the Tony award-winning theater group, Trinity Repertory Company, Providence Improv Guild, and the Festival Ballet Providence entertain residents and visitors with their live performances every weekend night. You can also experience live music at local venues like the Columbus Theater. Providence is one of the most entertaining cities in the United States.
Schools in Providence
Schools in Providence
While Providence is small in size, it has excellent public and private schools and offers excellent postsecondary education. The Providence Public School District serves approximately 30,000 students between pre-Kindergarten and grade 12. Additionally, there are 25 elementary schools in the city, nine middle schools, and thirteen high schools. The district has magnet schools that offer specialized courses at the middle and high school levels. Providence’s graduation rate is higher than the national average, making it a great place to study. The city is home to various private and charter schools in the East Site, such as Lincoln School, Wheeler School, and Moses Brown. GTECH Corporation funds Time Squared Academy High School, a public charter school, while Textron Inc. funds Textron Chamber of Commerce, which serves grades nine to twelve. The city supports inclusivity in education with two separate centers for students with special needs. Providence supports more than 44,000 students in postsecondary education. Five Rhodes Island’s leading college and university campuses are in Providence. For instance, Brown University is one of the nine colonial colleges in the country, and it’s an Ivy League university. Other institutions include Providence College, Rhode Island School of Design, and Rhode Island College, the oldest public college.
While Providence, Rhode Island, does not steal the spotlight as the smallest nation’s capital, it is worth considering its real estate value and opportunities. The weather, education, healthcare, culture, diversity, and economic growth have attracted many investors to the city. Take the bold step and become an investor in the Providence, RI real estate market.
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