Planet Street, #17

About this Property

#Proposal

Walter Bronhard is an out-of-state real estate investor and developer who owns many, many buildings along Benefit Street and throughout College Hill. He initially proposed demolition but then saved the Welcome Arnold House up the street in 2016. Around the same time, he purchased this narrow vacant almost 5,000 sf lot down the hill.¹

Meanwhile, further up College Hill on Waterman Street between Thayer and Brook Streets, Mr. Bronhard demolished two century-old properties for a new five story apartment building in a similar “darkitecture” style. A few doors down, the 1877 Rufus Waterman House is also threatened with demolition in favor of another student apartment building.

We don’t have positive feelings about Mr. Bronhard and his dealings. We can see how the wonderful Rufus Waterman House has been managed into the ground, with very little investment to keep it in great shape. It seems to be a case of demolition by neglect, or perhaps more accurately, demolition by sucking as much rent out of a property with as little investment as possible. We don’t love the dark, boxy architecture that his recent projects showcase. And while he saved the Welcome Arnold House, there is nothing historic left but the shell, and the fact the building still stands at all is an exception in his portfolio.

For more about Mr. Bronhard, GoLocal Providence did a deep dive into who he is and the properties he holds in 2017.

#Design Reception

The building went up fairly quickly and was not noticed by many in the press. We found one story (below) about the construction. According to aerial photos, the foundations went in around the spring of 2023 and by a March 2024 photo the roof was complete.

We assumed this lot was part of the College Hill Historic District as it neighbor up the street at number 21, the Welcome Arnold House, is part of that district. But we could not find any record of the architectural plans going before the Historic District Commission (HDC) or the City Plan Commission (CPC).

This owner also owns a similarly styled building at 116 Waterman Street, built at the same time. It is likely the same architect for both properties, though we could find no plans to confirm this.

While the “darkitecture” design style is trendy, the building seems nice enough and adds more housing to what was previously an empty lot. The rents are on the expensive side and the finishes marketed as “luxury,” which we could do without. But it is difficult to find fault with more housing these days.

#Current Events

The property’s six apartments come up for rent on sites like Zillow and Apartments.com.

#Nearby History

Not far away, a little to the north, was the site of the Sabin Tavern at 182-198 South Main Street. It was in that tavern that the first act of the American Revolution was planned, the burning of the HMS Gaspee. Welcome Arnold, whose first house still stands at 21 Planet Street, later purchased the Sabin Tavern and it remained in the family for 100 years. When the tavern was demolished in 1891, the southeast part of the old tavern was detached, moved, and reattached to the Mary Arnold Talbot house at 209 Williams Street and served as headquarters for the Gaspee Chapter, Daughters of the American Revolution.

A historic marker stands at the corner of Planet and South Main Streets. The southern side of the marker simply says “HMS Gaspee” while the northern side details the significance of the location.

#In the News

Student housing under construction in Providence with $2.6M in financing

by Marc Larocque
Providence Business News | March 1, 2023 (abridged)

A proposed apartment building at 17 Planet St. in Providence is now under construction, after the real estate firm behind the project recently received $2.6 million in financing from Bank Rhode Island, the bank announced recently.

Walter Bronhard Real Estate said it is constructing a three-story apartment building with six apartments, each averaging 1,287 square feet in living space, after getting approval for the loan from the commercial real estate division of BankRI. All of the units will be four-bedroom apartments, each with two bathrooms, the real estate firm said.

The Planet Street apartments will be used for student housing, according to BankRI. The property is located at the bottom of College Hill, a couple blocks away from both the Brown University School of Public Health and the university’s primary first-year residence hall, the Keeney Quad. […]

The apartments, which are being fitted with new appliances and granite countertops, are expected to be completed and ready for occupancy at the start of the fall 2023 semester, according to BankRI. […]

Walter Bronhard bought the 17 Planet St. property from Great LLC for $300,000 in August 2015, according to the warranty deed, a public record documenting the sale. Bronhard also bought 21 Planet St. at the time for $626,400, according to another warranty deed.

The sloped 4,870-square-foot 17 Planet St. property was previously a private parking lot for clients of a nearby business.

The property was most recently valued by Providence assessors in fiscal year 2022 as being worth $262,900, according to the city’s online property tax evaluation database. The property is located in a C-2 zone of the city, according to the database.

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Captured 06 November 2024 from https://pbn.com/student-housing-under-construction-in-providence-with-2-6m-in-financing/