Strong Demand For Downtown Living In Providence

This project brings another entrant into the contest for tenants of high-end apartment space in Rhode Island's capital city. Its apartments would carry monthly rents ranging from $1,200 to $3,000. Besides well-established apartment high-rises such as Regency Plaza and Avalon at CenterPlace, the Foundry project would have plenty of competition for the luxury market.Other upscale projects are the brand new Jefferson at Providence Place, which The Foundry faces across the Woonasquatucket River; a smattering of converted commercial buildings being spiffed up and soon to be finished in Downcity; a hotel/apartment/condominium complex well along in its planning at Waterplace Park; and Capitol Cove, along the Moshassuck River at Canal Street, where construction is scheduled to begin this spring.