Former Exchange Bank building expected to be converted to boutique hotel

A RENDERING SHOWS what the Hotel Beatrice, a 48-room boutique hotel, will look like when completed. The R.I. Commerce Corp. recently authorized a tax increment financing program to facilitate the development of the former Exchange Bank building on Westminster Street in downtown Providence. /COURTESY R.I. COMMERCE CORP.
A RENDERING SHOWS what the Hotel Beatrice, a 48-room boutique hotel, will look like when completed. The R.I. Commerce Corp. recently authorized a tax increment financing program to facilitate the development of the former Exchange Bank building on Westminster Street in downtown Providence. /COURTESY R.I. COMMERCE CORP.
PROVIDENCE – A historic office building on Westminster Street downtown is expected to be converted to a 48-room boutique hotel. The R.I. Commerce Corp. on June 26 authorized a tax increment financing program to help facilitate the development. The incentive is valued at up to $4.25 million, and will redirect three-quarters of the state sales…

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