Projo Biz Blog

Chace sells Newport's Vanderbilt Hall hotel for $5.7M

NEWPORT, R.I. -- A downtown building that was constructed in 1909 as a YMCA and became a hotel in 1997 has been sold. According to city land records, Vanderbilt Hall, on Mary Street, sold for $5.7 million on Monday. The......

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 Tags  Buff Chace Jr.   Newport RI   Peter de Savary   real estate   Vanderbilt Hall  

R.I. utility shutoffs decline, National Grid reports

PROVIDENCE, R.I. -- The number of natural-gas and electric customers having their service disconnected for not paying their bills has fallen in 2009 compared to 2008, according to regulatory filings by National Grid, the company that supplies gas and electricity......

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 Tags  electricity   National Grid   natural gas  

Showcase Cinemas parent restructures debt

The parent company of Showcase Cinemas has reached a tentative agreement with lenders to restructure more than $1 billion in debt. National Amusements said in a statement that the agreement would extend the maturity on the company's existing debt, which......

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 Tags  movie theaters   National Amusements   Patriot Place   Providence Place   Showcase Cinemas  

Broader measure confirms housing decline

New numbers from a Boston-based consultant confirm what the Rhode Island Association of Realtors has reported about the January housing market in the Ocean State: single-family house sales did poorly and condos did worse. The Warren Group of Boston tracks......

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 Tags  Condominiums   housing   prices   Realtors   single-family houses   Warren Group  

Condo market continues to weaken sharply

The Rhode Island condominium market continued to weaken sharply in January, according to statistics tracked by the Rhode Island Association of Realtors. The median sales price for a condo declined 21 percent in January when compared to the same month......

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 Tags  business   economy   real estate   recession  

Obama's foreclosure plan gets generally good marks

Leaders who deal daily with the Rhode Island housing industry reacted this afternoon -- mostly with approval -- to President Obama's plan to address the foreclosure crisis nation wide. Those who commented, generally favored the plan, though not everyone agreed......

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Hotel, food service industries have surprisingly healthy December

Rhode Island's hotel and food service industries had a surprisingly strong December, according to data released this morning by tax authorities. Hotels paid $120,064 in local hotel taxes in December, according to the state Department of Revenue and Newport, which......

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 Tags  beverages   hotels   meals   Newport   recession   taxes