Converting the first shopping mall into micro-apartments

An indoor shopping mall/arcade built in 1828 in Providence, Rhode Island has recently been converted into micro-housing:

Known as Westminster Arcade when it opened in 1828, the building marked the debut of English indoor shopping concept in the United States. Designed by architects Russell Warren and James Bucklin, the Greek Revival stone structure more resembles a courthouse than a shopping mall, what with its stately Ionic columns and sunlight-filled atrium with its glass gable roof. Shoppers browsed three floors of shops—or at least that was the idea; they never seemed willing to trudge up the stairs to the second and third floors…

The mall was nearly razed in 1944, but preservationists intervened, and it was spared. In 1976, the arcade was designated a National Historic Landmark, though businesses struggled. Even its 1980 renovation didn’t help much, and it ultimately closed in 2008…

Work on the $7M project wrapped in October 2013. Granoff retained the retail spaces on the ground floor and rented them to retail busineses. These commercial spaces are enclosed by bay windows so sound doesn’t drift to the residences above. Inspired by ship construction, each of the 38 rental units—which measure from 225 to 300 square feet—includes a bedroom, kitchen, bathroom, and built-in storage. The homes on the second floor even have guest accommodations in the form of a twin Murphy bed. The Providence Arcade also contains eight larger apartments, a game room, storage spaces, and laundry machine…

Micro apartments are not for everyone—in fact, their clientele are “young kinds that just graduated.” They “are at the bottom-end of the totem pole and don’t have that dining room set that grandma gave them,” Abbott said. “They travel really light. They might have a bike and two suitcases.” The Providence Arcade’s dwellings have also attracted keepers of the shops downstairs as well as second homeowners seeking a place to stay when they’re in town. Rent starts at $550 a month, but future residents better get in line—there is already a waitlist.

If all micro-apartments looked like this, I imagine their popularity would grow. A number of demographics might want a relatively cheap yet newly constructed housing unit within an interesting historic building. Looking at the pictures, i wonder if there is a thriving “street-life” present within the arcade given the retail shops and residences; this would just be a bonus.