Washington Trust Finances Conversion of Historic Providence Building

Washington Trust Finances Conversion of Historic Providence Building

Washington Trust's Commercial Real Estate Group provided $2.1 million to HM Ventures Group 7, LLC, to finance the construction and residential/retail conversion of a historic, five-story building located in the Downcity section of Providence.

“This property will help add to the influx of new residents to the downtown area, continuing Providence’s transformation to a 24/7 city instead of one that rolls up its sidewalks at 5 P.M. The adaptive re-use of this incredibly historic building is exciting to be a part of and will provide beautiful apartments in the heart of this transformed area," said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.

The Building

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The building was built in 1875 and is located at 32 Custom House Street in Providence and covers 16,531 square-feet.

The building will be converted into ten residential apartments with a 2,000 square-foot retail space on the ground floor.

Designers envision the ground floor being anchored by a street facing restaurant with a separate lobby that will service the above apartments.

Washington Trust

Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies.

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