Riverside Square Market Analysis Report
The City of East Providence requested a market analysis for Riverside Square as part of the City’s efforts to work with residents and businesses to revitalize the area and increase economic opportunities in the Riverside neighborhood.
East Providence is participating in the Federal Reserve Bank’s Working Cities Initiative with a focus on Riverside Square. The vision for Riverside Square is for “an "Arts District-feel" consisting of work/live spaces, galleries, restaurants, small first floor retail, music venues, dynamic public spaces, complementing the existing recreational amenities of two waterfront parks, an historic Carousel and the most popular bike path in Rhode Island.” The Boston Federal Reserve Bank is committed to promoting economic growth in low-income communities throughout New England.
The Boston Fed developed a Working Cities Initiative based on its research and experience working to assist and revitalize lower income communities. The Boston Fed identified “the critical factor was not a city's industry mix, demographic composition, or geographic position. Instead, resurgence resulted from the ability of leaders in those cities to collaborate across sectors around a long-term vision for their success.”
