124 Depasquale Ave PHOTO: City of Providence Tax Assessor
Who would think that houses on Providence’s Federal Hill would increase nearly as fast as Apple stock or Bitcoins but the new reality for real estate in Providence is explosive price increases and not just on the tony East Side of Providence.
Maybe no home in Rhode Island demonstrates the state of the real estate market more than the house at 124 Depasquale Avenue on Federal Hill.
Then-Mayor Vincent Buddy Cianci announced that in partnership with a developer the city was building 21 single-family homes on Depasquale Avenue and Federal Street. The homes at the time would sell for about $80,000 and be marketed to first-time home buyers.