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Paolino Properties sold its 333 Adelaide Avenue property, fully leased to Tesla, for $14,037,910 to MDC Coast 25 LLC. The transaction in Providence's South End reflects strong net-lease investment demand and Tesla's role as a commercial anchor since arriving. Joseph Paolino cited the project as a catalyst for neighborhood revitalization.
Pawtucket-based Teknor Apex is partnering in a 75-million-euro ($87.8 million) investment fund with Paris-based OSS Ventures to scale industrial software companies across North America and Europe. Teknor will act as the regional industrial anchor and become the first U.S. manufacturer to invest in and deploy OSS portfolio software at scale. OSS is opening a Boston office.
Over 2,500 Teamsters Local 251 members at Rhode Island Hospital ratified a three-year agreement maintaining Teamsters health care, layoff protections, and adding FSA benefits. The contract includes higher wages, stronger seniority rights, and improved tuition assistance. Rhode Island Hospital is the state's largest private employer. Local 251 has represented workers there for over 30 years.
Smokey Bones' Warwick restaurant closed permanently on April 28, according to a posted notice. No reason was shared. The closure follows the barbecue chain's Chapter 11 bankruptcy filing in January. The shutdown marks a retail/dining vacancy in Rhode Island's commercial landscape.
Rhode Island General Treasurer James Diossa announced the second round of RI AnchorHome, a program offering affordable mortgages for first-time homebuyers. Nearly 60 families closed on homes in the first round. The initiative, launched in December 2025, aims to expand homeownership access amid inflation and low inventory. One beneficiary purchased a Warwick home for ~$400,000.
Governor Dan McKee has submitted a budget amendment finalizing his $1 billion energy relief plan, which includes a revised Virtual Net Metering program for large-scale solar projects. The new proposal will save ratepayers up to $258 million over five years while offering developers a voluntary compensation structure at $0.19/kWh with a 2.75% annual escalator. The amendment also clarifies the state's approach to incorporating lower-cost nuclear and larger-scale hydropower to reduce Renewable Energy Standard costs.
James Lombardi, who previously held senior roles in the City of Providence including chief of staff for the City Council and treasurer, has been appointed chief of staff for the Rhode Island Department of Administration. The appointment provides stability following the March resignation of former director Jonathan Womer after ongoing failures in the State's Enterprise Resource Planning system rollout. Former Providence police officer Tom Verdi is serving as interim director.
The Rhode Island General Assembly passed legislation expanding Jamestown's senior property tax relief program and sent it to Governor Dan McKee for consideration. The measure would extend the town's sliding-scale tax-relief program to a new income tier of seniors earning between 220% and 240% of the federal poverty guideline, offering exemptions equal to 10% of the assessment cap or property valuation, whichever is less. The bill was requested by the Jamestown Town Council.
Governor Dan McKee signed legislation officially moving Rhode Island's 2026 primary election to Wednesday, September 9, rather than the usual Tuesday. The change was made at the urging of state and local officials concerned that holding elections the day after Labor Day would not give municipalities enough time to set up polls. The primary will determine Democratic and Republican nominees for governor, lieutenant governor, attorney general, and other local offices.
The Rhode Island House Judiciary Committee voted 10-5 to advance legislation that would expand expungement eligibility to up to four nonviolent felonies, but only 15 years after completing a final sentence. The bill excludes violent crimes and offenses such as child endangerment, elder abuse, and DUI. Currently, first-time offenders can have a single felony expunged 10 years after sentence completion. The State Senate passed the bill in April.
Governor Dan McKee has proposed an additional $2 million investment in the FY 2027 state budget to expand the Learn365RI out-of-school learning initiative. The funding aims to enhance STEM and STEAM educational programs, providing year-round learning opportunities through partnerships between community organizations and schools. The initiative seeks to improve student academic performance and close achievement gaps statewide.
