PROVIDENCE – The transformation of the 903 Residences from apartment to condo building is at its halfway point.
Mott & Chace Sotheby’s International Realty, the property’s sales partner, announced this week the 903 has exceeded the 50% owner-occupied threshold. This will enable future buyers to seek mortgages through Fannie Mae and Freddie Mac for the first time.
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Since the partnership with Mott & Chace began in 2018, 65 units have been closed or placed under contract with buyers, for a total of $24 million in sales, according to Ben Scungio, the Providence office manager for Mott & Chace Sotheby’s and team lead for the 903 partnership.
The property has 330 units in total and started life as an apartment building before the switch to condos during the Great Recession.
The 903 has amenities, including concierge services, a 24-hour fitness center, a pool, dog park, movie theater and parking. It is located near Providence Place mall and allows pets.
Current listings, according to the Mott & Chace website, start at $154,000 for a 563-square-foot efficiency and extend up to $389,000 for a two-bedroom, two-bathroom unit.
Mary MacDonald is a staff writer for the PBN. Contact her at Macdonald@PBN.com.
