PROVIDENCE – Gov. Gina M. Raimondo signed the bill passed by the General Assembly to facilitate the construction of the Hope Point Tower on Parcel 42 of the Interstate 195 Redevelopment District.
The legislation reduces the size of a public park in the district to accommodate the proposed footprint of a 42-story tower sought by New York Developer Jason Fane.
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The land for the Hope Point Tower, as proposed, also would have to be rezoned to allow up to a 600-foot height, which is expected to be considered by the Providence City Council.
Currently, the zoning height is limited to 100 feet.
The City Council Committee on Ordinances has scheduled a public hearing for the rezoning on July 18. The City Council is also expected to hold two public hearings on the project.
The controversial project has drawn rebukes from some in the city, including from the Providence Preservation Society, who has launched an advocacy campaign to prevent the building from receiving a change in zoning.
The PPS called the project “financially unfeasible,” and said that the project’s required spot zoning defies universal urban planning and preservation principles. The organization also opposed the building’s scale and argued that the project had no public benefit despite having applied for tax incentives from the state.
The building, as currently proposed, would feature 46 stories, with 40 floors of luxury apartments or condominiums, topping a base that would consist of enclosed parking and some retail.
Chris Bergenheim is the PBN web editor.
