NEW: JWU Completes Purchase of Former Club Karma
GoLocalProv Business Team
NEW: JWU Completes Purchase of Former Club Karma
“As the university continues to expand its academic programming, we have a growing need to add classrooms, administrative offices and student services. This building is located within walking distance to many of the university’s academic and student services facilities. Its 25-spot parking lot also gives us more needed spaces to accommodate our staff and guests," said Marie Bernardo Sousa, JWU senior vice president of administration.
Earlier this year, club owners, Richmond and Friendship, LLC, came to Johnson & Wales officials to gauge the school's interest in buying the property.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe purchase and sales agreement was completed on October 31, 2015.
Johnson & Wales University
Johnson & Wales University was founded in 1914 and consists of over 16,000 graduate, undergraduate and online students at its four campuses in Providence, North Miami, Florida, Denver, Colorado and Charlotte, North Carolina.
For more information, click here.
Providence College and University Tax-Exempt Properties
Revenue Decline
Annual Tax Revenue Today: $1,908,927
Annual Tax Revenue in 5 Years: $1,354,570
Annual Tax Revenue in 10 Years: $655,292
Annual Tax Revenue in 15 Years: $22,010
Total Annual Decline: $1,886,917
Total Revenue Loss
Revenue Without the Deals: $28,339,905
Revenue with the Deals: $14,163,338
Difference: $14,470,567
Brown U. Properties
Properties that Fall Under the Deal:
154 Angel
43 Elm Street
43 Elm Street
355 Eddy Street
222 Richmond Street
94 Waterman Street
269-289 Richmond Street
269-289 Richmond Street
269-289 Richmond Street
6 Elbow Street
221 Richmond Street
198 Dyer Street
337 Eddy Street
Brown University Taxes
Annual Tax Revenue Today: $1,597,929
Annual Tax Revenue in 2029: $5,353
Difference: $1,592,576
RISD Properties
Properties that Fall Under the Deal:
189 Canal Street
123 Dyer Avenue
RISD Taxes
Annual Tax Revenue in 2015: $74,996
Annual Tax Revenue in 2029: $16,657
Difference: $58,339
PC Properties
Properties that Fall Under the Deal:
71 Sandringham Ave, 47 Cumberland Street, 60 Devonshire Street, 62 Wardlaw Ave, 67 Sandringham Ave, 1 Sandringham Ave,198 Camden Ave, 194 Camden Ave,101 Dante Street, 6 Cumberland Ave,10 Cumberland Ave, 64 Sandringham Ave, 6 Ventura Ave, 58 Warlaw Street, 26 Cumberland Ave,18 Cumberland Ave, 22 Cumberland Ave, 14 Cumberland Ave, 2 Cumberland Ave, 31 Annie Street, 26 Ventura Street, 43 August Street, 1 Mowry Street, 31 Lucile Street, 309 Huxley Street, 29 Lucile Street, 19 Lucile Street, 32 Annie Street, 2 Lucile Street
PC Taxes
Annual Tax Revenue Today: $63,931
Annual Tax Revenue in 2029: $0
Difference: $44,160
JWU Properties
Properties that Fall Under the Deal:
55 Shipyard Street
157 Clifford Street
47 Bassett Street
178 Cliford Street
75 California Street
Garage Parcel
Johnson and Wales Taxes
Annual Tax Revenue Today: $247,067
Annual Tax Revenue in 2029: $0
Difference: $247,067
