Brian Thibeault purchased the 48,000 s/f Pawtucket Armory, 172 Exchange St. at auction for $561,000. The tax assessor's office has the property valued at $3.2 million.
Thibeault said the property is suited for working artists, dance studios and other creative ventures. The buildings ownership name is now the Pawtucket Armory Arts Center LLC.
Elevators, sprinkler system and new roof were all recently installed by the previous Armory owners.
Thibeault wants to keep The Gamm Theatre as a tenant. Space is available in the Armory and the Drill Hall is available for events.
Thibeault, is the owner of Joseph Properties, a N.H.-based development firm.
Construction of the Pawtucket Armory began in 1894 and the building was completed in mid-1895. It was the first of the large armories constructed in Rhode Island. It was built for the Tower Light Infantry of Pawtucket, the Kearny Light Infantry (Company G 2nd Regiment Infantry) of Central Falls, and the Pawtucket Horse Guards First Cavalry Battalion. More than 1,000 people attended a grand ball held to commemorate the opening of the Armory on June 12, 1895. The annex was erected after World War II to house military vehicles for the Rhode Island National Guard units.
The Armory was added to the National Historic Register in 1983.