Patrick Anderson, Author at Providence Business News

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CORNISH ASSOCIATES has invested again in downtown Providence, by purchasing the Lapham Building at 290 Westminster St. for $2.7 million, with the goal of creating ground-floor retail and upstairs residential space in the nine-story structure. The Lapham wraps around the Tilden-Thurber Building, which sits at the corner of Westminster and Mathewson streets. / PBN PHOTO

Cornish purchases Lapham Building for $2.7M, sees trouble in historic tax...

Economic Activity 06/10/2014

(Updated, 5:15 p.m.) PROVIDENCE - Cornish Associates LP has added to its Westminster Street portfolio again. The Providence firm responsible for much of the residential...

RHODE ISLAND'S House Finance Committee has approved an $8.7 billion budget bill that reduces corporate and estate taxes, eliminates tolls on the Sakonnet River Bridge and $52 million in new state historic tax credits, and provides $12.3 million for repaying the 38 Studios moral obligation bonds. / COURTESY WIKIPEDIA/CHENSIYUAN

House panel backs budget that curbs corporate, estate taxes

Economic Activity 06/06/2014

(Corrected, 12:13 p.m.) PROVIDENCE – The House Finance Committee late Thursday night passed an $8.7 billion state budget bill unveiled by Democratic leadership that would...

RHODE ISLAND ranks fourth-worst in the nation for the deficit home values have to their pre-recession peaks, behind Nevada, Florida and Arizona. / COURTESY CORELOGIC

R.I. home prices show 7.2% year-over-year gain in April

Economic Activity 06/03/2014

PROVIDENCE – Home prices in the Providence-Warwick area rose 5.9 percent in April compared with the same period in 2013, CoreLogic said Tuesday. On the...

THE RHODE ISLAND Association of Realtors said Tuesday that the Rhode Island real estate market last month saw its first year-over-year inventory increase since March 2012, even as sales volume of single-family homes fell 5 percent. / BLOOMBERG FILE PHOTO/JACOB KEPLER

R.I. home sales drop 5% in April, but Realtors see inventory...

Economic Activity 05/27/2014

WARWICK – Rhode Island single-family homes sales fell 5 percent in April compared with the same period last year, while the median sale price...

AT A MEETING OF the I-195 Commission Monday night, commissioners continued the ongoing debate about how much information to release to the public about development proposals. Above, a rendering of a proposed pedestrian walkway between two office buildings on Clifford Street in The Link "developer's toolkit," released by the commission in February. / COURTESY I-195 REDEVELOPMENT DISTRICT COMMISSION

I-195 panel’s debate over Link proposal confidentiality ongoing

Economic Activity 05/20/2014

(Updated, 6:56 p.m.) PROVIDENCE – The I-195 Redevelopment District Commission has received “several” development proposals, including potential commercial, residential, hospitality and recreational projects, for the...

PROVIDENCE, BROWN UNIVERSITY and the state have reached a tax stabilization deal that encompasses the proposed South Street Landing project that would transform the empty South Street power station property and environs along the Providence River (encircled in white) into an academic nursing center, administrative offices and student housing, along with other commercial uses. / COURTESY CITY OF PROVIDENCE

City, state, Brown agree on tax deal for South Street Landing

Economic Activity 05/15/2014

PROVIDENCE – The city has reached an agreement with the developer of the proposed South Street Landing project on three property tax stabilization deals...

State supports city and town recreation with $6.3M in grants

Government 05/15/2014

(Updated, 4:21 p.m.) PROVIDENCE – The state awarded $6.3 million in grants to 26 communities to improve recreational facilities. The grants will help fund 50 projects...

Shooters redevelopment plan collapses, state to reassess

Economic Activity 05/13/2014

PROVIDENCE - It’s back to square one for Rhode Island’s redevelopment of the former Shooters nightclub property on the Providence waterfront. The R.I. Department of...

THE COMMISSION OVERSEEING the redevelopment of the former Interstate 195 land in Providence (shown is a conceptual rendering of what the land might look like after being fully built-out) has decided to make public those development proposals that are not chosen by the commission for implementation, a reversal of an earlier decision that had received a negative reception in some quarters. / COURTESY CITY OF PROVIDENCE

I-195 commission reverses course on revealing unsuccessful bids

Economic Activity 05/05/2014

PROVIDENCE – The Interstate 195 Redevelopment District Commission has loosened its confidentiality policy and will now identify all proposals for the former highway land,...

LOCAL DEVELOPERS Peter de Savary, Paul Roiff and Joseph R. Paolino Jr. have signed an agreement to purchase Newport Grand pending legislation allowing table games at the site. Above, a rendering of the proposed revitalization and expansion of the Newport Grand slots parlor. / COURTESY NORTHEAST COLLABORATIVE ARCHITECTS

Developer trio to purchase Newport Grand

Economic Activity 05/05/2014

NEWPORT – A partnership between three prominent local developers has reached an agreement to purchase the Newport Grand slots parlor, the group announced Monday. The...

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