NEW: Providence Journal Building Has Been Sold

Wednesday, June 24, 2015

GoLocalProv News Team

 

View Larger +

Nordblom Company and Cornish Associates have announced the joint purchase of the Providence Journal Building, located at 75 Fountain Street in Providence. 

“We are delighted with this exciting new project in the heart of Providence and are pleased to be partnering in these acquisitions with Boston-based Nordblom Company who share a similar vision and considerable experience in the nearby Boston-area markets. Bringing additional office tenants into the building and activating the street-level spaces at Emmet Square will inject renewed vitality into the neighborhood around the Convention Center. The additional tenants and foot-traffic will help support the burgeoning restaurant and retail environment in downcity,” said Arnold "Buff" Chace, President of Cornish Associates 

Future Of Providence Journal

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

As GoLocal first reported on June 13, 2014 the 185-year-old Providence Journal was sold to New Media Investment Group, GateHouse Media's parent company, for $46 million.

The seller of the property was H.M. Belo, who also owned the newspaper until its sale.

As they fight to stay relevant in the digital news consumption age, the new owners of the Providence Journal have been cutting newsroom costs aggressively as well as slashing print production costs and have layed off many copy editors and journalists.

According to sources, the new building ownership and paper manageement are currently negotiating to keep the Providence Journal in the building, but condensed to one floor.

What The Purchase Includes

This purchase includes The Providence Journal Building and two adjoining parking lots at 78 Fountain Street and 1 Eddy Street. 

The Providence Journal Building was constructed in 1934 by architect, Albert Kahn.

Future Plans With The Building

Cornish and Nordblom plan to commence immediately with improvements to the building.

Their plan includes modernizing and revitalizing this iconic property while offering leases to a broad cross section of tenants ranging from full-floor users to 2-5,000 square foot occupants.

When renovations are complete at the close of 2015, the building will feature 160,000 square feet of renovated office space as well as over 10,000 square feet of restaurant/retail space facing the newly re-designed Emmet Square.   

The renovation of the building is being done by a team comprised of Site Specific of Providence, RI as the general contractor and Spagnolo Gisness & Associates, Inc. (SGA) of Boston, MA as the architect. 

 

Related Slideshow: 10 Things You Can Buy for $2 Besides the Providence Journal

View Larger +
Prev Next

Enjoy a Beer

At Chelo's, so-called domestic label drafts--Miller, Budweiser, and Coors--are all $1.99 for a 10 ounce mug. You can enjoy a libation, and watch some sports on the flat screen at a legendary Rhode Island establishment for less than the cost of a Providence Journal.

View Larger +
Prev Next

Enjoy a Coffee

A medium coffee at Dunkin Donuts, according to fastfoodmenuprices.com, comes in at $1.89 cents. Not thirsty? There are plenty of food options that ring in under $2, but i recommend the Turkey Sausage wrap for $1.39.

View Larger +
Prev Next

Grab a Burger

If you're more of a red meat kind of person, head over to the nearest McDonald's. Big Macs are $3.50, and the budget here is $2 if we're looking to spend less than we would on a Providence Journal. So, the play here is to order a McDouble (a double cheeseburger with just one slice of cheese), but ask the cashier to hold the ketchup, and to include Big Mac Sauce instead. McDoubles are $1.20, and the Big Mac sauce costs an extra .30. That's a grand total of $1.50 - still far below the $2 of a Providence Journal.

View Larger +
Prev Next

Catch a Movie

If you're looking for entertainment, East Providence's Empire Cinema, a bargain priced cinema that shows so-called second run movies is located on Newport Avenue. The cinema features two bargain days, in which movies are shown for...you guessed it, $2.

View Larger +
Prev Next

Red Box

Would you rather watch a movie in the comfort of your own home? Red Box movie kiosks are located virtually all over the state of Rhode Island in just about every supermarket or street corner where retail stores are located. If you want to rent  a dvd, it will cost you $1.50, but if you want the high definition clarity of a blu ray, it will cost you...$2.

View Larger +
Prev Next

Take a Cruise

Maybe you need to head out for a drive in order to clear your head? If you've got a sedan that averages around 20 miles to the gallon, and most cars do these days, pump a half gallon of gas in the tank (which shouldn't cost more than $1.25 anywhere in RI) and go on a ten mile, mind clearing drive. Just watch out for pot holes. Car repairs cost way more than $2. 

View Larger +
Prev Next

Make a Bet

If gambling is one of your favorite forms of entertainment, I suggest you take a ride over to Twin River and walk into the racebook portion of the establishment. The minimum bet at the New York based horse tracks (Aqueduct, Belmont, and my personal favorite, Saratoga), is just $1. That means you can bet $1 to show on a horse, as retired Providence Journal columnist M. Charles Bakst so loved to do, and even if you lose both races, you've still passed an hour of your time. But if you're a skilled handicapper, you can probably last all day with just $2 by betting horses to show.

View Larger +
Prev Next

Work Out

If you're a person who likes to keep active, you can exercise for free. But if you prefer to be insulated from the elements (wind, rain, snow, stifling heat), and since you live in Rhode Island or southeastern Massachusetts, of course you do, you can join a gym like Planet Fitness or Workout World for way less than $2 per day. Both gyms charge somewhere around $10 per month.

View Larger +
Prev Next

Hit the Dollar Store

Are you in the mood to shop? Walk into a $1 dollar store such as The Dollar Tree, and you'll be able to purchase any two items there. They sell everything from food, to automotive needs, to kitchenware, to hardware and clothing.

View Larger +
Prev Next

Grab a Book

If you're reading this, you like to read. Assuming you're willing to pay to read, Providence is stocked with used book stores like Cellar Stores, Symposium books, Ada Books, and Paper Nautilus. And all of them have plenty of books ringing in at less than $2.

 

Related Articles

 

Enjoy this post? Share it with others.

 
 

Sign Up for the Daily Eblast

I want to follow on Twitter

I want to Like on Facebook