Waterplace Towers near Woonasquatucket
A real estate company called the
Intercontinental Real Estate Corporation is
the mastermind behind the high-rise project
called Waterplace. The Rhode Island Building
Trades and Gilbane Building Company entered
into a Project Labor Agreement concerning
the Waterplace condominiums in August 17,
2005. This agreement ensures the supply of
skilled construction workers for the
The Waterplace luxury project is composed of
two adjacent towers. One, standing at two
hundred and thirty-five feet has nineteen
floors, while the other, standing at two
hundred thirteen feet houses seventeen
storeys. There are one hundred and
ninety-three units in total. The one, two
and three bedroom condominiums in both
towers range in price from three hundred
thousand to more than a million dollars.
While Waterplace was being constructed a few
years back, there were two luxury high-rise
condominiums being built at the same time in
They are The Residences at the Westin and the Oneton along Westminster Street.
However, the Waterplace Residential Towers remains the first residential project
in the Capital Center District after a large-scale construction lull of fifteen
years. It is intended to attract buyers from Massachusetts and New York.
The Waterplace Residential Towers are located at the base of the
Woonasquatucket River. Waterplace is so named because of its proximity to
Waterplace Park. The park is where Providence’s Waterfire series of events
regularly take place. Waterfire was created by Barnaby Evans as an environmental
art installation during 1994. The cultural Waterfire events consist of over a
hundred bonfires set over the surfaces of the Woonasquatucket, the Providence
and the Moshassuck rivers. The three bodies of water all run through the
Waterplace Park in the middle of downtown Providence.
bonfires are burning bright and warm,
classical music is played to complete the
festive atmosphere. On some occasions, there
have been live performances in place of the
recorded music. These events are held as
often as twice in a week during summers.
The reason for the Waterfire
series of events is to bring new life to Providence’s
downtown area by attracting foreign travelers to boost
tourism and by drawing local residents from other towns.
Sixty percent of the people who come to see the Waterfire
events are from outside the state. The average number of
viewers is pegged at forty thousand, although the audience
numbers range from ten thousand to a hundred thousand.
Waterfire is funded by both the government and by private
donations. Ten percent comes from the government while the
remaining ninety percent is made up of generous donations
from individuals, private and commercial institutions.
The most expensive units in the Waterplace Residential
Towers have a spectacular view of the Waterplace Park. The
condominium owners may enjoy the sights and sounds of the
dynamic Waterfire events without having to leave the
comforts of their luxurious rooms.