ASH NYC, a New York based real estate development, investment and design firm has received $2.1 million in financing from Washington Trust’s Commercial Real Estate Group. The loan will be used for the construction and conversion of a historic, five-story building in the Downcity section of Providence, RI. Built in 1875, the 16,531 square-foot is located at 32 Custom House Street, within the historic Custom House District. The plans call for the Victorian Gothic to be converted into ten residential apartments with a 2,000 sq ft retail space on the ground floor.
“This property will help add to the influx of new residents to the downtown area, continuing Providence’s transformation to a 24/7 city instead of one that rolls up its sidewalks at 5 PM,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The adaptive re-use of this incredibly historic building is exciting to be a part of and will provide beautiful apartments in the heart of this transformed area.”
