Providence, R.I., ends a 15-year drought with condo project

It's been 15 years since Providence, R.I., last saw a multifamily residential building rise in its Capital District. Now twin condo towers are under way, sparking a revitalization of the district. Developed by Intercontinental Real Estate Corp., Boston, the Waterplace development features 193 luxury condos in two residential towers, 17 and 19 stories, along with a three-story subterranean garage with 478 spaces, and ground-floor retail. Set for completion in December 2007, the project was designed by ADD Inc., Cambridge, Mass., with Gilbane Building Co., Providence, as the GC.