NO SALE YET

February 13, 2013

The Hood Building on Coventry Street in Newport City. Courtesy photo

NEWPORT – Bill Stenger’s Q-Resorts does not yet own the Spates Block in Newport City, but will likely very soon.
Q-Resorts has an agreement with Doug and Vivian Spates to buy the block, which stretches from Central Street to Second Street, but the closing has yet to occur. It was scheduled for the end of December, and then the end of January, but it didn’t happen, and Doug Spates said he does not know why or when it will.
Spates speculates that there are hold-ups somewhere and said he thinks it could have to do with an environmental certificate, but doesn't know the details.
In the meantime, Spates has bought the Hood Building as a future home for some of his tenants.

For more on this story, see Thursday's edition of the Newport Daily Express for Feb. 14, 2013.