Commerce RI approves $6M TIF for Hotel Hive construction, among other issues

THE R.I. COMMERCE CORP. has approved $6 million in tax increment financing for Westminster Partners LLC to construct the Hotel Hive in two vacant buildings on Westminster Street./ COURTESY ABDO DEVELOPMENT
THE R.I. COMMERCE CORP. has approved $6 million in tax increment financing for Westminster Partners LLC to construct the Hotel Hive in two vacant buildings on Westminster Street./ COURTESY ABDO DEVELOPMENT
PROVIDENCE – The R.I. Commerce Corp. voted to approve a $6 million tax increment financing agreement for Westminster Partners LLC’s construction of the Hotel Hive at 187, 203 and 213 Westminster St., the old Providence Journal and Kresge buildings that currently sit vacant. The adaptive reuse project, which is estimated to cost $39 million, will…

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