« Coming up: Three-and-a-half hours without Starbucks | Today | Station fund concert raises nearly $200,000 »

February 26, 2008

Potential investors eye Veterans Memorial Auditorium

Journal file photo / Ruben W. Perez
The Veterans Memorial Auditorium may be taken over by the Rhode Island Convention Center Authority.

PROVIDENCE -- Businesses interested in managing the Veterans Memorial Auditorium toured the performance hall this morning, examining both the building's new seats and repaired ceiling and its three floors of vacant and neglected office space.

The nonprofit group that runs the VMA had been scheduled to take full ownership from the state in July. But concerns over its fundraising ability have caused state officials to reconsider that agreement, The Providence Journal has reported.

Now, the Rhode Island Convention Center Authority, which also runs the Dunkin' Donuts Center, is moving to take over the VMA as well.

The authority organized today's tour, inviting management companies to study the building before submitting proposals to help operate it.

The current operator, the Veterans Memorial Auditorium Foundation, estimates that the building may need millions of dollars in improvements.

For more local breaking business news, visit the Biz Blog at projo.com/business.

Posted by Benjamin N. Gedan  at 12:39 PM | Permalink

Comments

Post a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish.

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)