"Renaissance"
The city's eponymous "Renaissance" began in the 1970s. From 1975 until 1982, US$606 million of local and national Community Development funds from were invested throughout the city, and the hitherto falling population began to stabilize. In the 1990s, Mayor Vincent Cianci, Jr showcased the city's strength in arts and pushed for further revitalization, ultimately resulting in the opening up of the city's natural rivers (which had been paved over), relocation of a large section of railroad underground, creation of Waterplace Park and river walks along the river's banks, and construction of the Fleet Skating Rink (now the Bank of America Skating Rink) in downtown and the 1.4 million ft2 Providence Place Mall.
New investment triggered within the city, with new construction including numerous condo projects, hotels, and a new office highrise all filling in the freed space. Despite new investment, poverty remains an entrenched problem as it does in most post-industrial New England cities. Nearly 30 percent of the city population lives below the poverty line. Recent increases in real estate values further exacerbate problems for those at marginal income levels, as Providence had the highest rise in median housing price of any city in the United States from 2004 to 2005.
Due to the recent inundation of proposals in Providence, the city has begun a planning process to decide how to holistically incorporate all projects in a way that preserves the fabric of the city, promotes future development, and capitalizes on the historic nature of the city and waterfront land Emphasis has been stressed on the following:
- Development of a new streetcar system
- Redevelopment of centrally located land freed up by the relocation of Interstate 195
- Riverfront improvements on the Woonasquatucket River west of Providence Place, creating continuous pedestrian access to the waterfront
- Redevelopment of the corridor south of Downcity between the Providence River and Interstate 95.
Read more about this topic: History Of Providence
Famous quotes containing the word renaissance:
“People nowadays like to be together not in the old-fashioned way of, say, mingling on the piazza of an Italian Renaissance city, but, instead, huddled together in traffic jams, bus queues, on escalators and so on. It’s a new kind of togetherness which may seem totally alien, but it’s the togetherness of modern technology.”
—J.G. (James Graham)