R.I. Commerce board approves $21M in ‘Superman’ building financing

Marc Larocque

05/12/2022

THE R.I. COMMERCE CORP. Board of Directors voted 7-0 on Wednesday, May 11, 2022, to give High Rock Development LLC $15 million in tax credits through the Rebuild Rhode Island Tax Credit Program and $5.7 million from the First Wave Closing Fund as part of the $223.1 million financing package for the redevelopment of the Industrial Trust Co. building at 111 Westminster St. / PBN PHOTO/ PAMELA BHATIA — THE R.I. COMMERCE CORP. Board of Directors voted 7-0 on Wednesday to give High Rock Development LLC $15 million in tax credits through the Rebuild Rhode Island Tax Credit Program and $5.7 million from the First Wave Closing Fund as part of the $223.1 million financing package for the redevelopment of the Industrial Trust Co. building at 111 Westminster St. / PBN PHOTO/ PAMELA BHATIA

PROVIDENCE – The R.I. Commerce Corp. board of directors voted 7-0 on Wednesday to approve nearly $21 million in state incentives as part of a plan to redevelop the Industrial Trust Co. in downtown Providence building into 285 apartments, along with 8,000 square feet of offices, and 26,000 square feet of retail, event and community…

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