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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...
OPEN SPACE: 
Meliza ­Urquhart, community manager at Paragon Mill in Providence, shows one of the new units offered at “workforce” rates for people who earn between 80% and 120% of the area’s median income. Demand in that slice of the housing market is far beyond the supply. 
PBN PHOTO/
MICHAEL SALERNO

MAKING ROOM In the MIDDLE: R.I. struggles to create workforce housing,...

For nursing assistant Johnbray Brown, moving into a workforce-rate unit in the renovated Paragon Mill in Providence’s Olneyville neighborhood was a hard-won victory spanning...
LASTING MARK? Providence Mayor Jorge O. Elorza, who cannot run in November for another term, is hopeful a renovated Industrial Trust Co. Building will add to the vibrancy of Kennedy Plaza, which the city is eying for a $140 million overhaul. / PBN PHOTO/PAMELA BHATIA

TO THE RESCUE? ‘Superman’ building project could key downtown recovery

The Industrial Trust Co. Building holds a towering place in Neil D. Steinberg’s memory. He started his banking career there nearly half a century ago,...
COURTESY ROPELESS SYSTEMS INC.

Most-read stories on PBN.com, March 2022

1. R.I. innovator develops ‘ropeless’ lobster fishing technology POSTED ONLINE: MARCH 28 Harold “Bud” Vincent, president of DBV Technology LLC in North Kingstown, developed the Ropeless...
PAOLINO PROPERTIES LP is seeking an award under the Rebuild Rhode Island Tax Credit Program to offset costs as it works to turn the long vacant, six-story Studley Building at 86 Weybosset St. in downtown Providence into apartments as part of a $17.9 million renovation. The company is turning the office building into 65 residential units. / COURTESY PAOLINO PROPERTIES LP

Paolino seeks tax credits for $17.9M Studley Building apartment project

PROVIDENCE – Paolino Properties LP is seeking an award under the Rebuild Rhode Island Tax Credit Program to offset costs as it works to...

Workforce-housing units to be created in 4 mill, office building conversions

PROVIDENCE – Four projects in Providence and West Warwick will receive funding from the R.I. Housing and Mortgage Finance Corp. to help create workforce-priced...

R.I. Historic Tax Credit program receives $20M in state budget, after...

PROVIDENCE – After years of going without replenishment, the Rhode Island Historic Tax Credit program has received $20 million in new funds in the...
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