Waterplace Towers near Woonasquatucket River
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 on August 17, 2005. This agreement ensures the supply of skilled construction workers for the project. 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 stories. 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 Providence.
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.
While the 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 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.