NEW: Providence Biltmore Sale Complete

NEW: Providence Biltmore Sale Complete

The $16 million purchase of the Providence Biltmore Hotel but Finard Properties is complete.

The Biltmore will now undergo a top to bottom renovation that could begin in June. The new owners have said the project will create over 50 jobs and said the company plans to fully comply with any requirements to hire local and minority workers.

"We're just excited," Todd Finard, a partner with the company, said in March. "The property has had its up and downs, but I want businesses in Providence to think of the Biltmore as their hotel."
At the time, Finard called the $16 million purchase a "phenomenal investment" but said he sees owning the Biltmore as a hotel he would like to hold on to for generations to come.

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"I'm looking at this for my kids and grandkids," he said.