Fane ready to move forward on 43-floor high-rise in Providence

A developer who has proposed a trio of modern skyscrapers for vacant land in the I-195 Redevelopment District said Thursday he is ready to move forward on one of the towers immediately, and reiterated his intention to build in phases. Pictured is the first tower slated for development, a 43-floor high-rise. / COURTESY THE FANE ORGANIZATION
A developer who has proposed a trio of modern skyscrapers for vacant land in the I-195 Redevelopment District said Thursday he is ready to move forward on one of the towers immediately, and reiterated his intention to build in phases. Pictured is the first tower slated for development, a 43-floor high-rise. / COURTESY THE FANE ORGANIZATION

PROVIDENCE – A developer who has proposed a trio of modern skyscrapers for vacant land in the I-195 Redevelopment District said Thursday he is ready to move forward on one of the towers immediately, and reiterated his intention to build in phases.

A revised rendering released by The Fane Organization, of New York, shows the 43-floor high-rise, one of three that would form Hope Point Towers.

The remaining 55- and 33-floor buildings would come in later phases as the market allows, said Jason Fane, president of The Fane Organization, in a news release.

The first phase of the $500 million project would call for $150 million in construction and soft costs. Fane has not disclosed how much or what sources of public funds he is seeking to help complete the project, but said in his release that city and state leaders need to support the project now.

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“We urge the government leaders to approve our transformative project; to look at our development track record of success and our financial stability. We think Providence has a unique opportunity to create the residential infrastructure needed to support growth, but we will move on if there isn’t support for this vision,” he said.

The project is expected to be reviewed by the I-195 Redevelopment District Commission at its regular meeting on Monday.

Fane, in his statement, has emphasized that the project has the potential to be transformative and iconic for Providence, and has been designed to mesh with the existing architecture of downtown.

The perceived height of the buildings may have been exaggerated by the initial renderings released by the company, he said, which were angled in such a way to focus on the new development, and made the existing skyline appear much smaller.

The 43-story tower would be only 20 feet higher than the 26-story Industrial Trust Building, commonly known as the Superman Building, he said. The smallest of the three towers would be shorter than the Superman Building, as well as the Hospital Trust and The Residences buildings, he said.

Of the design, he said, the red brick façade is intended to co-exist with Providence’s historical buildings. “The soaring glass of the tower represents its future,” he said.

In a recent interview, Rhode Island’s Commerce Secretary, Stefan Pryor, said the Hope Towers project has the potential to be iconic for Providence and Rhode Island in a similar way that the Superman Building was in the last century.

At the time the Superman Building was constructed, it was among the tallest buildings in New England. The participants reviewing the project will need to take all the issues into account, he said.

“Adding an element to the skyline, a new iconic element, can be very positive. It can revitalize a city’s, even a state’s image,” Pryor told the Providence Business News this month, citing as previous examples the One World Trade Center building in New York, and before that, the Empire State Building.

“In its day, 111 Westminster, the Superman Building. What used to be called the Sears Tower. A growing city is a healthy city. It is important that we add elements, so long as they fit and advance the city and its home state,” Pryor said.

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2 COMMENTS

  1. The Governor, Mr. Mattiello and the I-195 Commissioners should be all be clamoring to get a shovel and be a part of the groundbreaking for this project. The right project, at the right time, in the right place.

  2. I agree with Richard B….just because Fane wants to start “digging” doesn’t mean the development fits into the character and desired future of the city/state. Fane’s building looks and feels like an albatross.