Home Economy Government High Rock vows to finish ‘Superman’ building project, announces new manager

High Rock vows to finish ‘Superman’ building project, announces new manager

By

Christopher Allen

-

08/15/2025

HIGH ROCK DEVELOPMENT has announced the appointment of Michael K. Crossen as manager of the company's portfolio and vowed to continue the redevelopment of the "Superman" building. / PBN FILE PHOTO/MICHAEL SALERNO

PROVIDENCE – A month after the death of its managing director, David C. Sweetser, High Rock Development says it remains committed to the redevelopment of the “Superman” building. The company on Friday announced that Michael K. Crossen will serve as its new manager to “oversee projects throughout the region,” including the iconic skyscraper at 111 Westminster

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PROVIDENCE – A month after the death of its managing director, David C. Sweetser, High Rock Development says it remains committed to the redevelopment of the "Superman" building. The company on Friday announced that Michael K. Crossen will serve as its new manager to “oversee projects throughout the region,” including the iconic skyscraper at 111 Westminster St., vowing to repurpose the 428-foot Industrial National Bank Building into “a residential use that will help to address the housing crisis in Providence." “We look forward to continuing to advance this iconic project and the acceleration of all efforts and activities as we enter 2026,” Crossen said. “Now more than ever, with the passing of David and honoring his legacy.”

Sweetser died on July 19 at the age of 70. The cause of death was not disclosed.

High Rock bought the building for $33 million in 2008, but it has been vacant since the departure of Bank of America Corp. in 2013. The development plan calls for 300 residential apartments, with 20% deed restricted, 8,000 square feet of commercial office space and 26,000 square feet of retail and event space. But costs have risen from $220 million to $308 million since those plans were unveiled in 2022. A partner and business lawyer with Foley & Lardner LLP, Crossen previously served as legal counsel to High Rock, overseeing the company’s efforts to secure federal financing from the U.S. Department of Transportation. “All of the pieces remain in place, and nothing has changed with the financing plan. This complex project will get off the ground and provide hundreds of jobs, housing opportunities and a long-term economic benefit for Rhode Island’s economy,” he said. “We want our partners, stakeholders and elected officials to know we are fully and financially committed to this project. The work continues.” Josh Estrella, spokesperson for Providence Mayor Brett P. Smiley, said the administration remains in contact with High Rock representatives but had no further information regarding the project's future. Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.