Home Economy Atlantic Mills tenants form state’s first commercial tenant union

Atlantic Mills tenants form state’s first commercial tenant union

Updated on Dec. 24 at 2:23 p.m.

By

Katie Castellani

-

12/23/2024

atlanticmills1-1-696x385 — Tenants of the historic Atlantic Mills formed the state’s first commercial tenant union over the weekend as tensions have been brewing between the tenants and their future landlord./PBN PHOTO/WILIAM HAMILTON

PROVIDENCE – Tenants of the historic Atlantic Mills formed the state’s first commercial tenant union over the weekend as tensions have been brewing between them and their future landlord. Tenants of Atlantic Mills, which hosts a mix of artists and businesses like a flea market, held a rally at Riverside Park Dec. 21 to announce

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PROVIDENCE – Tenants of the historic Atlantic Mills formed the state’s first commercial tenant union over the weekend as tensions have been brewing between them and their future landlord. Tenants of Atlantic Mills, which hosts a mix of artists and businesses like a flea market, held a rally at Riverside Park Dec. 21 to announce that a supermajority of the business owners formed the Atlantic Mills Tenant Union, WPRI-TV CBS 12 reported Sunday. They demanded negotiations with the landlord so they could discuss the building’s future. Located in the Olneyville neighborhood of the city, Atlantic Mills is set to be purchased by a group of buyers, Atlantic Mills RI LLC, including Eric Edelman. The union’s list of demands also includes a 99 year lease term, immediate rent stabilization and an eviction moratorium beginning Dec. 21 that extends until “a collectively bargained agreement can be reached,” WLNE-TV ABC 6 reported. The union gave landlords a Dec. 30 deadline to respond. The union comes months after tenants have expressed concerns about the pending sale of the building. Opponents of the sale note the buyers have a connection to the Lauderdale building, a five-story office building that sits across the street from the “Superman” building in downtown Providence. Edelman, along with his father-in-law, Jeffrey Mendel, and two others purchased the property in 2023 for $2.35 million with plans to convert it to market-rate apartments and renovate retail spaces. On Oct. 1, one of the tenants had started an online petition to “halt the sale of the Atlantic Mills and instead advocate for its preservation while recognizing its historic and communal significance to both our state and our country.” The petition is not related to the union. Edelman says the sale is expected to close in early 2025 and the group is focused on “improvements that will help preserve Atlantic Mills as a great place to operate a business and innovate for the next 150 years.” The buyers are planning several improvements including, fixing the roof, replacing historic windows and improving the building’s infrastructure. Edelman said the buyers plan to honor the existing lease agreements of all tenants that are in good standing. When asked whether there will be rent increases Edelman said no decision has been made while the group is conducting “the required due diligence.” The 350,000-square-foot brick mill complex and parking lot located on Manton Avenue in the Olneyville neighborhood was listed for sale at LoopNet.com on Aug. 2 for $5 million by the Century 21 The Seyboth Team. Edelman declined to disclose the purchase price. The agreement comes after the city spent years trying to preserve the property, built in 1872 along the Woonasquatucket River. Its distinctive twin domed towers can be seen by passing motorists on Route 6. The Providence Redevelopment Agency entered into a purchase and sales contract with the owner, Howard & Eleanor Brynes LLC. in September 2022. The agency then issued a request for information in August 2023 for firms interested in rehabilitating the property. However, the deal fell through after the owners declined to extend a tentative contract “after PRA sponsored an environmental investigation through the R.I. Department of Environmental Management.” Atlantic Mills served as the headquarters of the Atlantic Delaine factory in the mid-1800s. Then A.D. Julliard took over the property in 1904 and was the last to use it as a textile mill. The Byrnes Families purchased the site in the 1950s and has remained a mixed-use, multi-tenant operation. According to the property listing, the mill is 100% leased and has a “thriving flea market.” The mixed-use property was marketed as ideal for businesses or a redevelopment project. The mill was listed on the Providence Preservation Society’s 2024 list of most endangered places, citing the property’s deferred maintenance and hazardous conditions. The property owners could not be reached for comment. (UPDATE: Corrects Atlantic Mills RI LLC is group purchasing Atlantic Mills in 3rd paragraph.) Katie Castellani is a PBN staff writer. You may contact her at Castellani@PBN.com.