The garages are situated near Paolino Properties landmarks, including the Beatrice Hotel, Banigan Building, and the 100 Westminster St. flagship office tower.

The Erector Set Garage at 36 Pine Street will be rehabilitated and expanded from 79 spaces to about 250 spaces, with upper-level restoration and a redesigned exterior featuring murals and public art.

The acquired properties are 66 Weybosset Street Arcade Garage (617 spaces), 36 Pine Street Erector Set Garage (79 spaces), 11 Pine Street (100 spaces), and 18 Custom House Street (36 spaces).

Together, these locations total approximately 832 parking spaces across four sites.

Paolino’s portfolio also includes other downtown Providence properties such as Case-Mead, 100 Westminster, and the Amica Building, underscoring a broad local presence.

Currently, the Erector Set Garage operates on the lower level with 79 spaces, and Paolino Properties plans to restore the upper levels to increase capacity.

Joseph Paolino, a Providence developer and former mayor, announced the major acquisition through Paolino Properties.

Paolino Properties has purchased four downtown Providence parking facilities from Granoff Associates LLC for a total of $16.5 million, yielding 832 parking spaces.

This acquisition complements Paolino’s broader strategy, which includes a separate April deal with Pyramid Group to acquire Providence Place Mall for $133 million, expected to close in September.

Granoff Associates is known for notable developments in the area, including transforming the Arcade building into condos, providing context for the seller in this deal.

DownCity Parking will manage the facilities, signaling ongoing professional parking management for the project.

The properties were purchased from Granoff Associates LLC.