Hotel Hive developer seeks 20-year phase-in for property taxes

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HOTEL HIVE PROVIDENCE, the proposed $39 million reuse of two vacant downtown buildings, was approved for a tax break by the Providence City Council, after a subcommittee opposed it. / COURTESY ABDO DEVELOPMENT
PROVIDENCE – The Hotel Hive Providence, the proposed $39 million reuse of two vacant downtown buildings – including the early 1900s Providence Journal offices – is seeking a long-term tax stabilization agreement. A TSA of 20 years would allow the developer to gradually start paying the taxes on the completed hotel, starting in the fourth…

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