Joseph R. Paolino Jr.

Joseph R. Paolino Jr.’s career in elective office got off to an early start with a seat on Providence City Council at age 23, and it wrapped up before he hit 40, after two terms as the city’s mayor. But leaving politics did not mean he stepped out of the public spotlight.

Paolino, 61, is a real estate developer and managing partner in Paolino Properties, a firm founded by his great-grandfather. He buys landmark Providence buildings and downtown Providence parking lots. By the truckload.

Paolino’s largest unofficial role seems to be as the Dutch uncle of Rhode Island economic development, expressing firm but benevolent advice at every opportunity about the state’s economic condition. In public forums Paolino has expressed opinions about public smoking, panhandling, the value of surface parking lots, reuse of the former Interstate 195 land, tax breaks for Blue Cross & Blue Shield of Rhode Island, and saving the Superman Building. A major topic of Paolino’s editorializing is how Providence should try to seduce development away from overheated Boston.

He displayed his confidence in the market by buying three Westminster Street properties for $60 million, including the 20-story tower at 100 Westminster.

- Advertisement -

In mid-2014, Paolino partnered with two others to buy and develop Newport Grand, provided voters would agree that fall to allow table games. Newport voters nixed the table games.

Despite the electoral setback, in February 2015 Paolino and a new partner bought Newport Grand. But a month later they sold their interest to the owner of Twin River Casino. •

No posts to display