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Thu March 6, 2014
Financing Plan To Revitalize Superman Building May Soon Be Announced
Supporters of turning the vacant Superman Building into apartment units say they may unveil a new financing plan as soon as next week. The General Assembly has been wary of offering a public subsidy to reuse the Superman Building in the aftermath of the collapse of video-game company 38 Studios. Supporters of the project say filling the Superman Building with tenants and other new uses would boost the economy in Providence.
Steve Durkee of Cornish Associates is working with the Superman Building’s owner on a reusing the property. He said it won’t happen unless the General Assembly offers financial help.
“We hope to continue to work with them and we’ll be talking to them in the next couple of weeks. We hope to have a new proposal next week to present to them. We’ve been working very hard on fine-tuning the project," said Durkee.
The Superman Building is owned by Massachusetts-based High Rock Development The company wants to put almost 300 apartments in the vacant 26-story building, ranging from eleven-hundred to 27-hundred dollars.
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