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Committee approves sale of 691 Potters Ave. to enable 16-unit housing development
Summary
A Providence City Council committee approved terms of sale for 691 Potters Avenue to a sole bidder, clearing the way for a private, market-rate 16-unit residential project; the assessed value and purchase price were discussed and no city subsidy was reported.
A Providence City Council Committee on City Properties voted to approve terms of purchase and sale for the property at 691 Potters Avenue on Jan. 8, 2025, advancing a planned private, market-rate residential development that city staff said would yield about 16 housing units and increased property tax revenue.
The sale was described by Nick Ciccatelli, the city’s director of real estate, as the result of a Board of Contracts and Supply public bid process in which the incumbent property owner was the sole responsive bidder. Ciccatelli told the committee, “the assessed value, deemed by the assessor's office, was a hundred and 31,200, and the purchase price for this would be a hundred and 35,000.” He said the parcel had been transferred to the Providence Redevelopment Agency (PRA) previously for other…
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