High Rock Development Llc - Providence Business News

Should the state do more to support redevelopment of Providence’s ‘Superman’...

Government 06/09/2023

More than a year has passed since a proposed $223 million redevelopment of Providence’s tallest building was announced and the project remains in limbo. Gov....

BRENT RUNYON will step down as executive director of the Providence Preservation Society. / COURTESY PROVIDENCE PRESERVATION SOCIETY

Providence Preservation Society director Runyon to step down

News Story 02/01/2023

PROVIDENCE – When Brent Runyon moved to Rhode Island in 2013 to take the role of Providence Preservation Society’s executive director, he was at...

Providence City Council gives first approval to ‘Superman’ tax treaty

Government 10/20/2022

PROVIDENCE – City lawmakers on Thursday gave their initial blessing to a 30-year tax discount to redevelop the iconic “Superman” building. The City Council's 11-1...

City panel gives preliminary approval to contested ‘Superman’ building tax treaty

Economic Activity 10/17/2022

PROVIDENCE – Plans to revive the dormant “Superman” building are inching closer to reality, with a city panel giving preliminary approval to a 30-year...

‘Superman’ building deal would cut $29M from tax bill

Economic Activity 10/03/2022

PROVIDENCE – Developers planning to redevelop the city’s tallest skyscraper could save $29 million in property taxes over the next 30 years. The proposed tax...

THE PROVIDENCE REDEVELOPMENT AGENCY voted unanimously on May 16 to authorize the agency to provide "Superman" building owner High Rock Development LLC with a $10 million loan as part of the proposed $223.1 million renovation of the building at 111 Westminster St. into 285 apartments. / PBN FILE PHOTO/ PAMELA BHATIA

Providence Redevelopment Agency approves $10M loan for ‘Superman’ building

Government 05/16/2022

PROVIDENCE – Another $10 million in financing was secured as part of the proposed redevelopment of the former Industrial Trust Co. headquarters, the 26-story...

Most-read stories on PBN.com, April 2022

Subscriber Only 05/13/2022

1. $220M renovation plan unveiled for ‘Superman’ building POSTED ONLINE: APRIL 12. Gov. Daniel J. McKee, state officials and Industrial Trust Co. Building owner High Rock...

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

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

Economic Activity 05/12/2022

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...

LASTING MARK? Providence Mayor Jorge O. Elorza, who cannot run in November for another term, is hopeful a renovated Industrial Trust Co. Building will add to the vibrancy of Kennedy Plaza, which the city is eying for a $140 million overhaul. / PBN PHOTO/PAMELA BHATIA

TO THE RESCUE? ‘Superman’ building project could key downtown recovery

Coronavirus 04/29/2022

The Industrial Trust Co. Building holds a towering place in Neil D. Steinberg’s memory. He started his banking career there nearly half a century ago,...