PROVIDENCE – The conversion of the Union Trust Building in downtown Providence to a mixture of residential apartments, offices and restaurant space is continuing, even as the building owner seeks a tax agreement with the city that would lower the initial property taxes.
The property, at 170 Westminster St., will involve a private investment of $12 million into renovations, according to attorney Jackson Parmenter, who spoke on behalf of the building owner at the City Council’s finance committee meeting on April 12. Parmenter is a partner with Providence-based Kelly, Souza, Rocha & Parmenter PC.
When Your Period Is Disrupting Your Life, It’s Time to Talk About It
For many women, heavy or irregular menstrual cycles are often brushed off as “normal”—something to…
Learn More
Providence Capital III LLC, the building owner, is registered with the state with Brandan Moran identified as the manager. The owner requests a 15-year tax-stabilization agreement to phase in increased taxes.
The request will be scheduled for a public hearing before the committee proceeds, according to the chairman, John Igliozzi.
According to Parmenter, the building renovation will retain the existing restaurant, The Dorrance, on the first floor and offices on the second floor but will convert floors three through 11 to residential apartments. A total of 61 apartments will be created.
In February, the city’s Downtown Design Review Committee gave its approval for a rooftop penthouse apartment.
The rehabilitation of the former bank tower also will include creation of an indoor parking area, to be used by guests of the Providence G, according to Parmenter. The two buildings are owned by the same company.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
