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, a junior executive helping customers open checking and savings accounts, and he eventually rose to the top as CEO of Fleet National Bank, which had its headquarters in the 26-story
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As much as I love the building, having spent the first 17 years of my career working there, I think we are all kidding ourselves that it is only going to take $65 million of tax payer money to bring it back to life. BTW, for that $65 million the taxpayers should get at least 30% ownership of the building.
I spent my entire 43 year career working in downtown PVD (almost 100% in the Superman and Fleet Center Buildings) and have watched the city steadily deteriorate ever since Cianci left office for the last time. I fear Elorza and Covid have driven the final nails in its coffin and I have zero confidence in the ability of any of the current PVD mayoral candidates to turn things things around.
What about the Fane Tower?
Isn’t it time to start tearing down these outdated buildings and start adding new construction to downtown? The economics on this are ridiculous.