What's next for Struever Brothers?

Published Dec 08 2008, 10:45 AM by Ian Donnis

It has been a long and winding road in Rhode Island for Struever Brothers, the Baltimore-based developer, from the time when Bill Struever emerged as a potential white knight in the Eagle Square debacle about seven years ago. More recently, the company and its local efforts have come in for steady criticism from artists and foes of gentrification.

Matt has an update on the latest:

One of Rhode Island's most prominent and controversial developers - Struever Bros - has recently layed off a majority of their staff in Rhode Island and now they are selling off one of their prized assets in Baltimore.

Developer Struever Bros. Eccles & Rouse has announced that Tide Point, one of its largest and most prominent commercial projects, is for sale for $102 million, putting into play more than half a million square feet of office space occupied by some of Baltimore’s most notable companies.

Tide Point is listed on the Web site of commercial broker CB Richard Ellis, represented exclusively by brokers Jonathan H. Beard and Robert T. “Bo” Cashman, and the listing indicates that the developer is seeking an 80 percent equity partner for the property.

Reached by phone Monday, Beard said he had been in talks with Struever Bros. since at least August.

“They’re looking to liquidate the asset,” he said. “I don’t want to get into all the reasons. … In this market you want to be bullish with your assets.”

It is unclear on how this impacts the SBER projects at ALCO or at Dynamo House. The Providence City Council is expected to take up the SBER proposal for a tax break for their ALCO project tonight at City Hall.

Filed Under: Development

Traffic light cameras: the view from Caprio's court

Whole lotta great stuff this weekend

Follow the Providence Phoenix

All Blogs

Talking Politics (1,505)
On The Download (2,143)
Phlog (1,397)
Laser Orgy (23)
Outside The Frame (299)
Dont Quote Me (511)

Filed Under: Development

Boston Phoenix
Concern cited on state sale of "Head of the Bay" property
Published 1/5/2009 by Ian Donnis
Advocates of maximizing public use for the India Point waterfront fear the state ma...

Boston Phoenix
What's next for Struever Brothers?
Published 12/8/2008 by Ian Donnis
It has been a long and winding road in Rhode Island for Struever Brothers, the Baltimore-based devel...

more by Ian Donnis

Rhody's local food movement finds its groove | February 18, 2009

My last post (as Not for Nothing) | February 12, 2009

Tomorrow: Pulitzer finalist Dray at the Athenaeum | February 12, 2009

Ticket to ride | February 11, 2009

Health-care's big moneyman in New England . . . | February 11, 2009

See all articles by: Ian Donnis

Latest Comments

Ugh, ugh, ugh: Drummer Gerhardt "Jerry" Fuchs (!!!/Turing Machine/Maserati/Juan Maclean) dead at 34 - WHY DID YOU HAVE TO GIVE IT SUCH A STUPID TITLE :(

By Kendra on 11-09-2009 in On The Download

City Council Forums - УЗНАЙ ПРО ВСЕ СКРЫТЫЕ ВОЗМОЖНОСТИ СОЦИАЛЬНОЙ СЕТИ «VKONTAKTE.RU» Ты знаешь, что такое «Вконтакте»...

By roolcateptara on 11-09-2009 in Talking Politics

City Council Forums - Гипнотическое видео - уникальная разработка группы ученых из Университетского колледжа Лондона, Оксфордского...

By haummofessews on 11-09-2009 in Talking Politics

City Council Forums - Вы верите своей второй половине? По статистике 96% супружеских пар изменяют. Вы хотите знать правду?...

By neargeinfunda on 11-09-2009 in Talking Politics

City Council Forums - Контроль передвижных объектов (автомобилей, грузов, ценных предметов и документов, сотрудников, детей...

By brooraWrany on 11-09-2009 in Talking Politics

Latest Comments from Not For Nothing

What's next for Struever Brothers?

Leave a Comment