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Providence Service Corp. buys 44 E. Broadway

July 27, 2010 (4:17 pm) | Permanent Link

Teya Vitu

Providence Service Corp. has bought the hulking four-story 44 E. Broadway building that looks like a World War II bomb target with its stripped away facades.

The $2.8 million acquisition continues Providence relentless westward march down Broadway since the national behavioral and education services provider moved its corporate headquarters into 64 E. Broadway in May.

“We had no intention to go any further down the block,” Providence CEO Fletcher McCusker said. “A number of things happened simultaneously once we moved to Scott and Broadway.”

Providence at first leased only 64 E. Broadway, which was renovated through the city’s Façade Improvement Program. McCusker then took an option to lease the neighboring 57 E. Broadway.

McCusker said Bank of the West called him to tell him the bank, which owned 44 E. Broadway, was taking offers on the building, which had failed to sell at auction. It is a reinforced concrete structure that originally serviced as a federal courthouse annex.

McCusker plans to pump another $3 million to restore 44 E. Broadway for mixed use. The ground floor will remain parking. Providence’s 25-person information technology department will fill the second floor and the third floor will be leased out for commercial use. McCusker intends to put six residential condos with roof access on the fourth floor.