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Sophisticated Providence, Rhode
Island, Once a City Under Siege, is Today a City Reborn, Attracting
Retirees in Search of Urban Living, Beautiful Architecture, a Colorful
History and Great Food
Cost of Living: Above the
National Average
| Not long ago, Providence,
Rhode Island (175,000 residents) was a place not many people wanted to
live. Neglected infrastructure, population loss
and urban blight haunted this New England city. There are still problems today, but thanks to
progressive civic leaders, Providence is a city
transforming itself and has been referred to as the "Renaissance City."
It is often
cited as one of the best places to live in the country, and the
center of the city has undergone an amazing
and exciting revitalization in the last few
years. Retirees here have access to outstanding
medical facilities, and seven institutions of higher
learning provide opportunities to keep the mind
active. Wonderful architecture and some of the
best restaurants in the country add to Providence's
appeal. The cost of living is roughly 10% above
the national average, and the median age is just 28
years, younger than the national average. |
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Founded in 1636 by a disgruntled Massachusetts
Bay Colony exile, Providence has had a colorful
history. It has sheltered Revolutionary War
soldiers, been a magnet for immigrants, welcomed
some of the country's largest manufacturing plants
and been deluged by flood waters after the Great
Hurricane of 1938. By the mid-20th
century, it was a city beset by organized crime and
murder. In the 1970s, though, things
began to change as millions of dollars were pumped
into revitalization, and the city's arts and food
cultures began to emerge. Today, three rivers that
had once been paved over are now flowing freely, creating a delightful pedestrian
waterfront (Waterpark Place) with bridges, gondolas, cobblestone
walkways and strolling musicians. I-195,
the highway that runs through the city, is being
relocated, opening up
nearly forty urban acres where further historic preservation and
new construction are occurring. The downtown, compact
and comprised of narrow, chaotic, crisscrossing
streets, bustles and has an eclectic mix of
post-modern buildings and Victorian and Federal
architecture. Overall, Providence is a
liberal, sophisticated city with friendly residents.
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The trendy East Side neighborhood, home to the Ivy League's
Brown University and the renown Rhode Island School of Design (RISD),
as well as intellectuals, creative types and students, boasts
dozens of structures that are listed on the National Register of
Historic Places, including stately Colonial and Federal mansions,
triple-deckers and many pre-revolutionary homes. The
College Hill Historic District, particularly Benefit Street, is a
treat with grand homes and Victorian streetlights. The
oldest Baptist church in the Americas, the First Baptist Church of
Providence, is also found here.
Cozy cafes and delicious bistros are found all along the city's
streets, thanks in part to the first-class culinary school Johnson
and Wales University and its graduates, many of whom have started
their own restaurants in the city. Providence
has a number of ethnic neighborhoods, and eateries range from
delicious Italian diners in the lively Federal Hill neighborhood
to upscale restaurants, such as Capital Grill and Mills Tavern,
along the river. This is indeed a foodie's Paradise, and a
nice perk of retirement here is that Johnson and Wales offers
noncredit classes to residents interested in honing their cooking
skills. Providence also has one of the highest rates of
coffee houses per capita in the nation.
This is an interactive
map. Click on the arrows in the upper left hand corner to
move the map direction, and click on the +/- signs to zoom in and
out.
Residences throughout the city are primarily large, historic single-family homes and
newer condominiums, many in converted warehouses, and
neighborhoods are distinct. The median home price is
$205,000, down roughly 10% in the last year.
Rhode Island is not known for low taxes and in fact has one of the
highest overall rates in the country. Providence real estate
taxes are high, as well, at a rate of $24.21 per $1,000 valuation,
assessed at 100% of market value (some sections of the city,
though, have lower rates). The annual taxes on a $205,000
house would be $4,963. Homeowners
65 and older who earn $30,000 or less may receive a property tax
relief credit of up to $250. Social
Security is taxed to the extent it is federally taxed.
The 2010 budget also includes a
provision that will treat capital gains income as ordinary income
for tax purposes. Previously, capital gains were given
preferential treatment. The sales tax is 7% (food and
prescription drugs are exempt).
Providence,
Rhode Island, Continued....
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