PROVIDENCE – The web of steel girders holding up the façade of the old Providence National Bank building on Weybosset Street, blocking the sidewalk and marring part of the roadway, will be moved behind the structure under plans set to be unveiled by city and preservation leaders.
The project, which will also include restoration of the façade’s historic masonry, is being financed by a $100,000 loan from the Providence Revolving Fund to O’Connor Capital Partners, the development firm that owns the land at 43 Weybosset St.
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Under the terms of the agreement, the 10-year loan will become a grant once O’Connor incorporates the façade into a new permanent building, Clark Schoettle, executive director of the Providence Revolving Fund said.
The steel bracing holding up the façade has been blocking the Weybosset Street sidewalk for six years since plans to build a 40-story residential tower on the site stalled.
The Providence Preservation Society, which worked on the plans to restore the façade, has pointed to the importance of the National Bank façade in preserving the unique curvature of lower Weybosset.
A ceremony to formally announce the plan is scheduled for Monday at 10 a.m. in front of the façade.
