Very Political with John DePetro: Nostalgia and Tradition

Mayor Elorza's comments only served to illustrate his ignorance—as abortion is not a religious issue. It is an issue that pertains to human life.

My weekly call-in on John DePetro’s WNRI 1380 AM/95.1 FM show, this week, was about Gorbea’s building, religious war in Providence, a historic souvenir, and transparency in extortion.

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I’ll be on again Monday, June 10, at 1:00 p.m. on WNRI 1380 AM and I-95.1 FM.

  • ShannonEntropy

    … PLA on the I-195 Land …

    I had never even heard of this. Now the failure of that valuable & well-located land to attract developers makes perfect sense. You really need to do a thread on this topic to bring everyone up to speed, Justin

    As for the “mystery” of the Fain Tower, it is just a repeat of the Carnegie Tower fiasco in Portsmouth:

    Developer gets godzillion dollar loan to build luxury condos nobody wants, needs or can afford. Pockets seven-figure “developer’s fee” out of loan proceeds. Builds project as advertised thus avoiding Fraud conviction and prison time. Then disappears with the moola leaving empty project behind

    Do we *really* want another empty tower — this one twice as tall as the Superman Bldg — cluttering up LaProv’s skyline ??

  • Rhett Hardwick

    Nothing new about condo projects that failed. It is all about the “absorption rate”. It used to be common, perhaps only on federally insured mortgages, that there were no “closings” until the project was sold to 50-60% “owner occupants”. I wonder about the lenders exercise of “due diligence”. I also wonder if the developer’s boat is named “First Draw”. The lender appears to be an insurance company, they have a lot of money to “get on the street”. Perhaps they got carried away.