Super Man Lives. Governor McKee announcing a re-development of the Industrial Trust Building- the so-called Super Man Building. The long vacant structure will become 285 apartments with about 20 percent of them affordable housing. The rest will be market rate.
“As Rhode Island continues to lead the region in our economic recovery, this project will help to maintain that momentum by reinvigorating downtown Providence, creating good-paying construction jobs, increasing our state’s market-rate and affordable housing supply, and generating further opportunities for the residents and businesses of our capital city,” said Governor McKee. “My thanks to everyone involved in the negotiations for coming together to bring the ‘Superman Building’ back to life.”
“We have finally met a moment both economically and politically where everyone has come together to find a solution to repurpose this historic building in a manner where it will again contribute to Rhode Island’s economy and provide much needed housing for Rhode Islanders,” said David Sweetner, of High Rock Development. . “All told, the redeveloped ‘Superman Building’ will create 285 residential units – 20 percent of which will be dedicated to affordable housing. The building will also create hundreds of construction jobs and be a community gathering point for the residents of Providence and the great State of Rhode Island.”
Providence Mayor Jorge Elorza says the project and its more than 16 hundred construction jobs will go a long way to revitalizing the city.
The Company will be spending 42 million dollars of its own money to make the project happen. About 10 million dollars will come from the Providence Housing Trust with the rest of the money coming from credits and other state and federal monies.
There has been no date specific for when the project would be completed.
(Photo by JEWEL SAMAD/AFP via Getty Images)
Photo: Getty Images