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PBN: Cornish purchases Lapham Building for $2.7M, sees trouble in historic tax credit cuts

lapham-building

Providence Business News reports on Cornish’s purchase of the historic Lapham Building on Westminster Street:

Cornish Associates LP has added to its Westminster Street portfolio again.

The Providence firm responsible for much of the residential redevelopment of downtown has purchased the historic Lapham Building for $2.7 million, director of development Steve Durkee confirmed Monday.

As with its neighboring properties, Cornish intends to convert the vacant nine-story office building at 290 Westminster St. into apartments with shops and eateries at street level.

However, those plans could be delayed if state lawmakers do not provide funding for Rhode Island’s historic tax credit program, which Cornish was hoping to deploy on the Lapham project, Durkee said.

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