Prospective Times building buyer seeks credits

PAWTUCKET – The Times building has an interested buyer, who is pursuing historic and state tax credits to help finance its renovation.
Michael Leshinsky, who is one of the partners behind the Isle Brewers Guild development, said this week he has had the Times building under contract for the past year.
He planned to speak with officials at R.I. Commerce Corp. this week about options for historic-redevelopment incentives. He also is investigating options for federal historic-redevelopment tax credits.
The building continues to house offices for The Pawtucket Times’ staff on its first floor. If he purchases the building, Leshinsky said he would continue that lease. The remainder of the five-story building could be converted to modern apartments.
But Leshinsky said he is not sure what can be done with two production buildings at the rear of the office building, which occupy about 20,000 square feet. The printing press remains in one, and interior environmental issues are not resolved, Leshinsky said.

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