A New York developer is scaling back his proposal for a three-tower development in the I-195 District.
Jason Fane wants state officials to move quickly to support a single 43-story residential tower in the district.
Fane said he hopes to develop two additional towers in future phases, depending on the level of market demand.
In a statement, Fane says the single tower would catalyze other new uses in the 195 District.
“This is a special opportunity for the state and city’s leadership to jump start growth and development," Fane said. "Hope Point Towers is an iconic building that will become the symbol of Providence. As the acclaimed architect Friedrich Florian recently said, ‘it’s time to be courageous.’ We have presented innovative high quality residences which will become much beloved and keenly sought after. The red brick façade of the building was designed to coexist in harmony with Providence’s past, while the soaring glass of the tower represents its future."
Some city officials have expressed concern that Fane’s proposed development could be too big for downtown Providence. Fane said the 43-story tower would be about 20 feet taller than the vacant Superman Building.