Patrick Anderson, Author at Providence Business News

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GOV. LINCOLN D. CHAFEE's budget, which would increase state general revenue spending by $104.3 million, or 3.1 percent, would also continue increases in the local school funding formula. / PBN FILE PHOTO/TRACY JENKINS

Chafee budget freezes tuition, extends historic tax credit

Government 01/16/2014

PROVIDENCE – Gov. Lincoln D. Chafee proposed an $8.5 billion fiscal 2015 budget on Wednesday that freezes tuition at public colleges and extends...

DESPITE AN INCREASE in the downtown Providence office-vacancy rate in 2013 to 16.17 percent, CB Richard Ellis-New England Vice President Andrew Galvin pointed to rising Class A asking rents as a cause for optimism at the firm's annual market outlook Tuesday. Overall, CBRE executives described a healthy Rhode Island commercial real estate market. / COURTESY CB RICHARD ELLIS

CBRE sees optimism in rising rents despite higher vacancy rates

Economic Activity 01/14/2014

PROVIDENCE – Despite rising office vacancies in downtown Providence over the past year, CB Richard Ellis-New England executives described a healthy overall Rhode Island...

R.I. Supreme Court: Narragansetts can challenge gaming expansion

Economic Activity 01/10/2014

PROVIDENCE – The R.I. Supreme Court ruled Friday that the Narragansett Indian Tribe has been harmed by the state opening table games at Twin...

DESPITE A TIME-WEIGHTED RATE OF RETURN of 11.07 percent in fiscal 2013, the 66,000 member state worker pension system (which has five plans) remained about 60 percent funded on average, said the state auditor general in a report released Thursday. / COURTESY WIKIPEDIA/CHENSIYUAN

Major state pension plans still less than 60% funded

Government 01/09/2014

PROVIDENCE – The Rhode Island state pension fund grew by $426 million in fiscal 2013 to $7.7 billion, the state Office of the Auditor...

PROVIDENCE HAS TRANSFERRED the vacant George C. Arnold Building to a developer, which in partnership with the Providence Revolving Fund and with the help of a federal grant, plans to redevelop the 90-year-old building into two retail shops and three apartments. / PBN FILE PHOTO/TRACY JENKINS

Arnold Building set for redevelopment, thanks to federal grant

Economic Activity 01/07/2014

(Updated, 6:30 p.m.) PROVIDENCE – One of the narrowest and most endangered buildings in downtown Providence has a new lease on life. The city announced Tuesday...

THE MEDIAN SALE PRICE of a single-family home in Rhode Island increased for the 14th consecutive month in November, according to the Rhode Island Association of Realtor, despite a year-over-year drop in the number of homes sold. / BLOOMBERG NEWS FILE PHOTO/DAVID CALVERT

November sees home sale slowdown but prices continue rise

Economic Activity 01/07/2014

WARWICK – Rhode Island single-family home sales slowed in November, dropping 11 percent from the same period the previous year, the Rhode Island Association...

ALEX AND ANI CEO Giovanni Feroce has purchased the Wyndham Estates in Newport for $6.8 million. The West Warwick native is renaming the 12,175-square-foot home on 11.72 acres Wyndham Hill. / COURTESY PRUDENTIAL GAMMONS REALTY

Alex and Ani chief buys Newport mansion for $6.8M

Economic Activity 01/03/2014

NEWPORT – Alex and Ani LLC CEO Giovanni Feroce has purchased a Newport mansion for $6.8 million, the jewelry company announced Friday. Known as the...

Arts group still in talks with DEM on Shooters site redevelopment

Economic Activity 12/27/2013

PROVIDENCE – A local arts group is in its second year of negotiations with state officials about a plan to build a waterfront concert...

GENERAL TREASURER GINA M. RAIMONDO, best known as the architect of the 2011 state employee pension reform now being negotiated in court-ordered talks, has thrown her hat in the ring for governor as a Democrat.

Raimondo joins race for governor

Government 12/18/2013

(Updated, 9:35 a.m.) PROVIDENCE – General Treasurer Gina M. Raimondo will run for governor of Rhode Island as a Democrat, she announced Wednesday in a...