December 4, 2024 – is the date of the scheduled hearing for the Providence Place Mall. The Mall was placed into receivership, the state equivalent of bankruptcy, by a Providence County Superior Court judge on 10/21/24, at the request of a group of private lenders, through the corporation GGG-Providence Place LLC, who allege that the management company, Brookfield Properties, owes them millions. Here are some facts we’ve gathered about the Mall.
$259M – owed by GGG-Providence Place LLC (the private lenders) to Brookfield Properties (the management company)
1,400,000 – square feet of retail floor space
2 – anchor stores
$500,000 – annual city property taxes paid by the Mall under the 30-year tax treaty ending in 2028
144 – stores
15 – levels
$73M – final payment on the bond was made by the state in 2019
20 – shoe stores
1 – artist lived illegally in the Mall from 2003-2007
3 – floors of retail space
$460M – project cost when it opened in 1999
41 – women’s clothing stores
2018 – year that Brookfield Properties of Chicago acquired the Mall from GGP Inc.
Sources:
https://www.wpri.com/target-12/judge-puts-providence-place-mall-into-receivership/
https://www.providenceplace.com/en/
https://en.wikipedia.org/wiki/Providence_Place
Nini Stoddard is a proud Providence resident. After living abroad as the child of a US diplomat, she returned to the United States to attend college. She lived in Connecticut and enjoyed working as a librarian, as a director of a regional non-profit, and as a prospect researcher. Nini moved to Providence in 2006 to work at Brown University as a senior prospect researcher. Now retired, she loves local history and volunteering.
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