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Providence Development: Real Estate Developers Remain Unhurried
While commercial real estate demand in the Rhode Island area remains low relative to pre-COVID levels, developers are finding opportunities predominantly in the way of hospitality and housing. The question, however, is whether they’ll have the supplies to do so. Moreover, with interest rates on construction loans reaching above 10%, many developers are selling off…
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Rhode Island Real Estate Market Faces Unstable Office Demand
As with most major US metropolitan areas – Providence is in a time of uncertainty. After five months of stagnant office space demand, March was punctuated by a 20% increase in demand versus the trailing 3 months. Developers and investors alike are unsure of the longevity of this demand.