The next attempt to reinvent Providence as a leading tourist and business destination post-pandemic is unlikely to have Providence Place as a central player. But if its owners remain committed, a reconfigured mall is sure to have a place in any new economic revival.
For now, all eyes are on the fate of a mall anchor store. Macy’s Inc. plans to close 150 stores in the next three years, including 50 by the end of this year. If the Providence Place store closes, it will be a major blow to the mall’s already shaky near-term finances.
But unlike many other large malls, Providence Place remains a destination for many shoppers and an important economic driver for the city worth preserving – and supporting.
“It’s hard to imagine the downtown without the mall,” Laurie White, president of the Greater Providence Chamber of Commerce, said in this week’s cover story.
Indeed, a case can be made that its ability to draw people downtown – even in diminished numbers from its heyday as a key part of the Providence renaissance – is as important as ever amid the rise of remote work.
But that will likely have to include increasingly mixed use, destination tenants, including housing.
It’s been two years since city leaders failed to act on the mall owner’s request for an extended tax treaty. The proposal would also have allowed the owners to expand beyond retail.
City officials have not reached out to nor heard from the mall owners since.
It’s a conversation that needs to happen, the sooner the better for all sides.
(SUBS 7th paragraph to correct to two years since city failed to act on the mall owner's request.)