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PROVIDENCE'S FIRST SKYSCRAPER at 10 Weybosset St., commonly known as the "Amica Building," was purchased by Paolino Properties LP for $12 million. / COURTESY LOOPNET/COSTAR

Paolino Properties acquires ‘Amica Building’ in Providence for $12M

PROVIDENCE – The city’s first skyscraper and former home of Amica Mutual Insurance Co. in downtown is now part of Paolino Properties LP’s portfolio. The...
RHODE ISLAND OFFICIALS seemed set on building a bus hub on Dorrance Street in Providence, but now Gov. Daniel J. McKee says officials are considering a location in the I-195 Redevelopment District. / RENDERING COURTESY OF UNION STUDIO ARCHITECTURE AND COMMUNITY DESIGN

Concerns over economic impact of potential new site for transit center

Gov. Daniel J. McKee's revelation that state officials are considering a new Providence location for a proposed bus hub has touched off criticism from...
WATCH THIS SPACE: Stacey Messier, general manager at Cambridge Innovation Center Providence, a 62,000-square-foot coworking office established at 225 Dyer St. in 2019, says she believes the business model “continues to rise in popularity.” 
PBN FILE PHOTO/RUPERT WHITELEY

Despite failures, landlords still see future in coworking spaces

The recent bankruptcy filing by national coworking space operator WeWork Inc. – once valued at $47 billion before its estimated worth plummeted to $360.9...

Five Questions With: Joseph R. Paolino Jr.

Joseph R. Paolino Jr. is CEO and managing partner of Paolino Properties LP. Founded in 1900, the fourth-generation company’s portfolio includes properties such as...

New tenants moving into Barrington Shopping Center

BARRINGTON – Two new tenants are coming to the Barrington Shopping Center, and a popular coffee shop is relocating to a new storefront within...
STILL STANDING: 
There is vacant office space in downtown Providence, but people in the local commercial real estate sector say landlords and banks haven’t reached a crisis level as others have nationwide. 
PBN PHOTO/­MICHAEL SALERNO

SHAKY GROUND: Distressed office real estate could undermine banks, wider economy

The former mayor of Providence is distressed. When Joseph R. Paolino Jr. walks through the city’s financial district, he’s anxious about what he sees. He...
ANXIOUS TIMES: Office vacancy rates in downtown Providence have been stable in recent months but are expected to rise this year amid ­national pressures created by rising borrowing costs and declining demand. 
PBN FILE PHOTO/­MICHAEL SALERNO

Pandemic fallout taking toll on commercial real estate

The COVID-19 pandemic has ended but the economic fallout is ongoing in some sectors of the economy, including commercial real estate. Owners and lenders invested...

$20M residential renovation of Studley Building completed

PROVIDENCE – A $20 million renovation of the Studley Building was completed in downtown Providence, which was marked recently by a ribbon-cutting, as the...

Controversial Christopher Columbus statue finds new home in Johnston

PROVIDENCE – The controversial Christopher Columbus statue recently purchased by a former mayor has found a new home.  Fomer Providence Mayor Joseph R. Paolino Jr.,...

Paolino Properties purchases Peoples Savings Bank building for $2M

PROVIDENCE – Paolino Properties LP announced Wednesday it has purchased 70 Kennedy Plaza for $2 million. Built in 1947, the six-story downtown building, also known...
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