Settlement Reached In Superman Building Lawsuit

May 9, 2017

A lawsuit over the upkeep of the Superman Building in downtown Providence has been settled ahead of a trial slated to start Monday. The building’s owner was seeking millions of dollars for what he called faulty maintenance.

The Superman Building, formally known as the Industrial National Bank Building, has been vacant since 2013. That’s when Bank of America moved out as the sole tenant of the building.

The Massachusetts-based owner of the structure, High Rock Westminster Street, later filed a lawsuit against Bank of America. The building owner claimed the bank caused millions in damage by not maintaining the façade and other aspects of the Superman Building.

The building remains vacant for now. Efforts to attract taxpayer funding to help revive it have received a frosty reception at the Statehouse.

Lawyers for the two sides in the settlement did not respond to a request for comment. Terms of the deal remain unspecified for now.

In a statement, the two sides said, "The parties are pleased to have settled the lawsuit and claims concerning the lease of 111 Westminster Street in Providence. High Rock looks forward to exploring options to make the most of its ownership of the building. Bank of America looks forward to continuing its long-standing partnership with the City and people of Providence."