PROVIDENCE – A four-story downtown office building near Johnson & Wales University is being converted to apartments and retail space.
The project at 259 Weybosset St. will include large apartments of four to five bedrooms per unit, and appears to be marketed to college students. An online ad indicates the apartments will be available in September, at rental rates of $1,100 per bedroom, or $5,500 per unit.
The building, constructed in 1900, is owned by Weybosset LLC, of Boston, which purchased it for $700,000 in December 2014, according to city property records. The company principal is Dustin Dezube, according to state corporate filings.
The renovation is being conducted by Bowerman Associates of Providence.
Later tonight, the Providence City Council Finance Committee is expected to consider a request for a 12-year tax stabilization agreement for the project, which would spread out the tax burden for the improvements over 12 years.
Mary MacDonald is a staff writer for the PBN.
