Historic Arcade to get $8-million facelift
12:30 PM Thu, May 29, 2008 | Permalink
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The Arcade building in downtown Providence, the oldest indoor shopping mall in the country, will undergo an $8-million renovation, according to owner Granoff Associates. The building's tenants, primarily lunch counters and retail shops, will have to vacate the building by June 30, so construction can begin, according to Granoff. Granoff expects the renovation of the Weybosset Street building to take about a year. "Our goals are to reposition the Arcade so that it can be sustainable in the long term, and to deepen our firm's commitment to the historic preservation and economic vitality of Downcity," Evan Granoff, managing member of Granoff Associates, said in a press release. The firm says it plans to turn the Arcade, built in 1828, into a "green building," enhancing its early passive-solar design with modern, environmentally sound heating cooling, and ventilation technologies. Twenty five percent of the renovation will be devoted to the heating and cooling system, Granoff said. Granoff said its application for a historic tax credit was approved by the state on May 15. Granoff also figured the time was right for renovation because Johnson and Wales University had earlier announced plans to move its Johansson's Bakery to the school's hospitality facility in Seekonk by June 30. The bakery represents 25 percent of the Arcade's revenue, according to Granoff. The building has 13 tenants. Tenants have been renting on a month-to-month basis since 2005 in anticipation of the project, according to Granoff. 
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