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IN DISPUTE: Joseph R. Paolino Jr., in front of Paolino headquarters in Providence. He is challenging the city’s $51.5 million valuation of the 50 Kennedy Plaza property.
PBN FILE PHOTO/­MICHAEL SALERNO

City must recognize drop in downtown property values

Tax disputes involving prominent commercial buildings are not unusual in Providence or other major cities. But city solicitors across the country are bracing for...
PBN FILE PHOTO/ 
WILLIAM HAMILTON

Most-read stories on PBN.com, March 2024

1. Washington Bridge to be replaced, McKee says ‘accountability will come’ POSTED ONLINE: MARCH 14. State officials announced that the westbound side of the...
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...

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...
PAOLINO PROPERTIES LP announced Monday that retail store Five Below is coming the to the Cranston Parkcade on the Route 10 corridor later this year. 

Five Below coming to Cranston Parkade later this year

PROVIDENCE – It will be Five Below at the Cranston Parkade later this year. Paolino Properties LP announced Monday that the retailer which features trend-right,...

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...
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