Thank God.
Maybe the developer will try his luck downtown where the tower should go.
The tower was only a couple blocks from the biggest ones downtown. It would have brought foot traffic to that park and spurred infill development to close the gap back to downtown. Providence would see a revitalization which could lead to the rescue of the Superman building.
HopePointAerial by David Z, on Flickr
Now, here is the more likely scenario.... Large potential developers take note of what happened and decide to invest their money and time elsewhere. The city slowly crumbles to the ground, and the Superman building is torn down as part of New England's saddest result since urban renewal.
If the latter comes to fruition, I will personally make sure I never return to Providence again. Typically I stop through 2-3 times a year. I couldn't bear to see the place without this...
Providence, RI by Jef Nickerson, on Flickr