development

RIPR file photo

Developer Arnold "Buff" Chace's Cornish Associates has completed its purchase of the historic Providence Journal building at 75 Fountain St. in downtown Providence, teaming up with Massachusetts-based Nordblom Company on the deal.

The purchase includes two parking lots at 78 Fountain St. and 1 Eddy St.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

This week Mark and Dave debate property tax deals with attorney Nicholas Hemond, who works with the law firm Darrow-Everett. Their conversation includes efforts to standardize property tax breaks in Providence and spur development on the former I-195 land. 

When to listen:

You can hear The Bottom Line each Friday at 5:50pm.

After two snow-packed months, the apparent settling of the pension conflict, and Lincoln Chafee's surprising emergence as a possible presidential hopeful, Rhode Island confronts a sharp debate involving baseball, public dollars, and the future of the state. No pressure, right? Thanks, as always, for stopping by for my weekly column. Feel free to drop me a line at idonnis (at) ripr (dot) org, and to follow me on the twitters. Here we go.

RIPR File Photo

Developer Arnold "Buff" Chace Jr. is working to acquire the Providence Journal Building at 75 Fountain Street, and he expects the ownership of the property to be resolved by the end of this month.

Working with "an outside investment company" that he declined to identify, Chace said he has the Journal property under a tentative purchase agreement. He said he's pursuing a review of the condition of the site, which includes two parking lots. Chace declined to discuss terms for a possible acquisition of the property.

RIPR FILE

An economist who has studied the impact of sports stadiums says Rhode Island should be wary of committing taxpayer dollars to pay for construction on a new facility for the PawSox. 

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