Tag Archives: Dan Mcgowan

Is Providence, RI Worthy?

The late Mayor Buddy Cianci believed the people of Providence have had a self-esteem problem. Perhaps that should be considered since there are so many “nay-sayers” about new developments in the city.

From http://www.VisitRhodeIsland.com

Providence certainly has “issues” that it needs to deal with. However, so does every other city in the country.
1) ” Traffic is terrible”: Have you driven in Boston recently? Constant changes in traffic patterns, parking is never available where and when you need it, and traffic could mean an hour delay, not a delay of minutes like in Providence.
2) “Providence is too small”: Providence is a boutique city, that is its strength and it should be leveraged. The “mega-conferences” will never come to Providence. Larger cities like Boston, San Francisco, and Chicago have logistical problems with “mega conferences.” (I know because I have gone to those cities for conferences of 20,000.) Providence will never, nor should it, be considered for a “mega conference”.
3) “Where is the money going to come from?”: The money should come from the private sector; no guarantee or loan from any government entity. If an opportunity makes financial sense the big lenders will flock to the opportunity to invest in it. As a REALTOR® with over 20 years’ experience in the commercial sector, I have seen it firsthand. That’s Capitalism and it is very efficient.
4) “Our taxes are too high!”: Tourists and shoppers don’t care about traffic/parking tickets, high taxes, or bureaucratic “red-tape.” They want a good experience. The challenge is for the private sector to put out a product that the consumer wants and will pay for – despite these challenges. CASES-IN-POINT: Walk around Boston, or NYC, or Chicago and observe the parking tickets and “Boots” on vehicles. The afore-mentioned cities have more taxes and they are higher than those in Providence and have more “red-tape.” The consumer may not know or doesn’t care; they just want a good experience.
5) “Good business and high-end consumers won’t come to Providence.”: The city of Providence and many of its detractors and supporters should stop behaving like the city isn’t deserving of “good” businesses, “nice” developments, and “high-end” consumers. Too often, the city is ready to “give away the store.” The city should have Standards and not behave like someone who is so desperate for money that they go to a “pay-day-advance” store. Perhaps that’s the problem. CASES-IN-POINT: Baltimore has had riots and still receives development projects, San Francisco seemingly has a panhandler on every street corner asking for $10 and $20 and people still travel there, political corruption and high shooting and murder rates haven’t hurt Washington DC, Chicago, or New Orleans.

The city of Providence needs to look beyond our city, state, and regional boundaries for solutions. The largest commercial real estate conference in the world is every March in France. Why can’t Providence look to the international community for ideas and funding? There are literally thousands of developers and lenders at this conference looking for real estate investment opportunities. I know because I have attended this for my business and I have met with them. Why shouldn’t we be introducing them to Providence? We should. Would you like to get involved? Message me if you would.