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THE "SUPERMAN" BUILDING, at left, is one of two high-profile downtown Providence projects that are inking a tax stabilization agreement with city officials. / PBN FILE PHOTO/PAMELA BHATIA

2 high-profile projects sidestep new rules for tax deals in Providence

After strengthening wage protections and increasing minority-business participation requirements for developers looking to get tax deals with the city, the Providence City Council appears...

City Council approves $29M tax treaty for ‘Superman’ redevelopment project

PROVIDENCE – The pieces of a complex funding puzzle for the “Superman” building redevelopment are falling into place, with the City Council giving the...

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

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

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

Proposed Hotel Hive agreement would increase tax savings to developer by...

PROVIDENCE – Ditching a boutique hotel for apartments within a downtown development plan is expected to make the property worth more once the project...

Developer ditches proposal for downtown Providence hotel, wants apartments instead

PROVIDENCE – The hotel part of the “Hotel Hive” project planned for downtown Providence is off the table. In its place, the developer wants to...
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

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,...

Hotel Hive developer: extension request ‘inevitable’ amid financing struggles

PROVIDENCE – The developer planning to turn the former Providence Journal building into a boutique hotel with retail and loft apartments will not meet...
THE HOTEL HIVE PROVIDENCE project on Westminster Street is one of the projects that has received a tax break from the city. The development is on hold due to the pandemic, with the developer considering asking for an extension on deadlines in agreements with the city. / COURTESY ABDO DEVELOPMENT

Do proposed changes to city’s policy on tax breaks threaten development?

Tax breaks are one way the city of Providence has persuaded developers to build or rehabilitate properties, but a proposal to overhaul the terms...

Hotel Hive project on hold; developer may seek deadline extension

PROVIDENCE – A controversial tax deal inked between the city and a hotel developer may need to be revised due to the pandemic. Jim Abdo,...
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