Paolino Properties Downtown Blockbuster Real Estate Deal - ABC6 - Providence, RI and New Bedford, MA News, Weather

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Paolino Properties Downtown Blockbuster Real Estate Deal

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by ABC6 Chief Political Reporter Mark Curtis

mcurtis@abc6.com

100 Westminster is one of the most famous buildings in Downtown Providence, just to the east of the iconic "Superman" building.

Real estate magnate and former Providence Mayor Joe Paolino has purchased 100 Westminster and two neighboring properties.

"It gives me an opportunity to understand my city. I have a sensitivity and commitment to it. And I want to make sure what I do is going to be done prudently and properly. One that people can be proud of," said Joe Paolino.

Paolino says he wants to attract more businesses to move downtown. And that a grocery store might be part of the mix.

The press conference was a "Who's Who" of Rhode Island business and politics.

"The former Mayor is right. This is a good investment. This is going to be proven; the faith in Downtown Providence is going to pay off. This is a good investment," said Gov. Lincoln Chafee, (D) Rhode Island.

100 Westminster offers spectacular views of Providence and beyond, and is a centerpiece of downtown.

ABC6 News Chief Political Reporter Mark Curtis said, "The purchase of the buildings comes at a time when the city is looking at major renovations to Kennedy Plaza."

100 Westminster and the other new Paolino Properties are part of the mix.

"We need to improve public transit, I think the Governor's proposed bonds on public transit will be helpful as well in terms of creating hubs and  will help us transform Kennedy Plaza, too," said Mayor Angel Taveras, (D) Providence.

Joe Paolino says he's not interested in buying the "Superman" building next door, but hopes someone else will.

 

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