The City of Providence will provide $8 million in tax increment financing to improve the area around the ALCO project being developed by Struever, Eccles, and Rouse.  The money will be used for several improvements, such as a riverwalk and public parks.  It sounds like a great idea, but of course the Olneyville Neighborhood Association (ONA) is opposed.


The Olneyville Neighborhood Association, a group that claims to represent the affected neighborhoods, sees the ALCO project as evidence that the city administration is pushing for the area’s gentrification at the cost of families and small businesses already there.


     So, what exactly is the ONA opposed to?  It looks like they are opposed to renovating historic buildings, attracting new businesses, beautifying the neighborhood, creating new commercial space, making the neighborhood more convenient, creating jobs, new apartments and condominiums, new parks, and a riverwalk.  The ONA opposes gentrification, but what about individuals who own property in the area?  Do they care about home owners near ALCO?  It certainly doesn't look that way.

     From what I've seen, Struever, Eccles, and Rouse have done a great job developing property in the Valley St. area.  First with Rising Sun Mills, and now with ALCO.  Once ALCO is completed, I hope they maintain a presence in Providence.  Just think of what they could do with Olneyville and te surrounding area.


http://www.projo.com/news/content/PROVIDENCE_ALCO_11-03-08_I1C21QV_v68.374b5de.html