Tax-stabilization deals needed to make eyesores useful

COSTS LESS: Foundry Associates partner Tony Thomas says new Promenade Apartments units are about 300 square feet smaller than older ones. / COURTESY FOUNDRY ASSOCIATES
COSTS LESS: Foundry Associates partner Tony Thomas says new Promenade Apartments units are about 300 square feet smaller than older ones. / COURTESY FOUNDRY ASSOCIATES
Forty-six years is a long time to complete a real estate development. But the transformation of the former Brown and Sharpe mill complex in Providence into the mixed-use Foundry wasn’t a run-of-the-mill construction project. Antonio Guerra purchased the property in 1968, when it had become run-down, commercially obsolete and the city around it was being…

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