BankRI provides $28.4M in financing for Cornish Associates buildings

AN ARTIST'S RENDERING of the Trayne Building, one of three historic buildings in downtown Providence to be converted to a mix of residential units and retail by Cornish Associates. / COURTESY CORNISH ASSOCIATES

PROVIDENCE – Bank Rhode Island has provided Cornish Associates with $28.4 million in financing for the Down City II renovations and construction.

The bridge loan will support the construction, addition and renovation of three historic buildings on Westminster Street. The buildings include the Trayne Building and the Lapham and Wit buildings.

The project will involve conversion of the former office buildings to residential units and retail. A total of 52 units of market-rate apartments will be created.

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.

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