PROVIDENCE, RI — Former Providence Mayor Joe Paolino is set to purchase the Providence Place Mall for $133 million, following a judge’s approval of his bid.
The offer—submitted by Paolino and his investment firm—was not the highest on the table, however, an attorney representing the mall’s receivership said it stood out as the strongest overall proposal, largely due to the experience and vision of Paolino’s team.
Paolino has already begun outlining ideas to transform the mall and reestablish it as a key economic anchor for the city.
“I’d like to see a supermarket in that mall. I think it’s important to have one in the downtown Providence area,” Paolino said. “If that happens or not, time will tell. You know, really transformational elements in it that will draw people from a huge geographic trade area—from outside of the region—have them come and have them stay longer.”
According to court documents, the purchase and sale agreement must be finalized within the next ten days.
In the meantime, the receivership’s attorney says backup offers will remain under consideration until the deal is complete.
This is a developing story. Check back for updates as more information becomes available.
Download the FREE Boston 25 News app for breaking news alerts.
Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
©2026 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/7QOJU3BNCJERBNKJC5LWTBYFLU.png)
