The First Shopping Mall in the World Converted into Loft Apartments!
With more and more people switching to online shopping, the number of shopping malls closing is on the increase, too. That was also the case with Westminster Arcade in Providence, Rhode Island, USA. This historical place has been already converted into residential space!
Greg
Westminster Arcade is the oldest shopping mall in the USA, dating back to 1828.
With the American market trends changing, the number of service providers in Westminster Arcade began to drop. The building slowly started to deteriorate to finally faced the risk of closing. In spite of renovation works its financial condition did not improve and in 2008 it was eventually closed down.
The building was to be demolished. However, the investors decided to change its profile to some extent
While all the commercial and service premises stayed on the first floor, the second and third floor were converted into micro-lofts
30 first lofts in such a historical building very quickly found their tenants
Although the monthly rent of $800 is rather high in this area, there are still more people who would like to live there
What do you think about such a makeover?
