The owner of the vacant Industrial Trust Building -- aka the Superman Building -- submitted a bid in response to a state RFP for 70,000 to 80,000 square feet of office space.
Bill Fischer, a spokesman for High Rock Development, says the bid was submitted in time for a June 3 deadline. "We wanted to keep any and all options open," Fischer says. "We did respond," even though High Rock continues to believe that a residential conversion offers the best future for the historic structure.
The Dynamo House, the century-old onetime Narragansett Electric power station, now sits as a forlorn reminder of what once thrived along Providence’s downtown waterfront. And as Rhode Island Public Radio political analyst Scott MacKay notes, it now stands as a guard to the old Jewelry District that state and city officials are trying to rebrand as a Knowledge District.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday it looks at business news and themes that affect local business and the public.
This week Dave and Mark talk with Grow Smart Rhode Island executive director Scott Wolf. They discuss proposals for the Superman Building, the costs of such development, urban residential living and trends in downtown office buildings.
When to Listen
You can hear The Bottom Line each Friday at 5:50pm.
Roger Williams University Law School professor Jorge Elorza, a housing court judge in Providence and prospective mayoral candidate, joins the Roundtable this week. We talk about what's next for the Superman Building, growing interest in the 2012 race for treasurer, and debate over investing the state pension fund in hedge funds.
The beacon light atop the tallest building in Rhode Island will remain on for the time being. But the owner of the so-called “Superman Building” says that could change if state leaders don’t approve a $39 million package of tax credits. State leaders are decidedly lukewarm to the idea.
The owner of the vacant Superman Building in downtown Providence wants to use $39 million in state money to convert it into for residential apartments. It remains unclear whether the General Assembly is willing to support that kind of spending.
The Superman Building has been sitting empty ever since Bank of America left in early April. The property’s owner, High Rock Development of Massachusetts, wants to convert the art deco building into 278 rental apartments.