I'm in this camp as well. Providence has a long established reputation of bucking the "Puritanical New England" trend. It's Boston's edgier little sibling to the south. I think this building exemplifies that. I see shades of Chicago's Aqua with this and that one works nicely in a cold climate. No reason this can't work here.
There was a public meeting last summer I went to and the architect said the podium was an "unfortunate reality" and went on and on about successful Toronto projects. They would never ever get away with that podium there.
I have to say, while it looks like Miami meets the Aqua Tower in Chicago, dropped in New England, I really like this idea ... now if only those parking lots nearby could be filled in ...Wow
“The Providence City Council ultimately overrode Providence Mayor Jorge Elorza’s veto, allowing the maximum height for parcel 42 of the former I-195 land to be raised by hundreds of feet so that New York developer Jason Fane can build the 46-story Hope Point Tower there.”
https://www.wpri.com/news/committee-votes-to-remove-providences-zoning-authority-over-195-land/
pbn.com
Of note, the documents submitted to the city indicate that this is now taller than originally proposed with more units. From 420 units and 495 feet to 500 unites and 550 feet. 313 proposed parking spaces. Less than 1 per unit which I appreciate. GoLocal has cost estimates from Gilbane too: https://www.golocalprov.com/busines...ane-tower-project-taller-and-more-uni?fbclid=
Turn away a big project like this and next thing you know you guys will be knocking down the Industrial Trust Building. Providence needs a shot in the arm before the city's most recognizable building deteriorates much further. It's a gem of the city, but not exactly a hot commodity for major investors. The Fane Tower, if nothing else, is a true litmus test for the future prospects of Providence.
Yeah but that doesn't include the land acquisition cost. I've seen estimates of like 600 k/unit in the Boston area.
Why does he need a $25M tax break from a cash strapped state to build a luxury tower? I'm a little confused on that point. Its not like he's building affordable housing.
yea he unfortunately did according to this local reporter in touch with developments in that areaSmall update on Fane Tower. Anybody know if he actually made the payment?
GoLocalProv | Business | Fane Project to Pay $249,000 in Penalties — Project’s Closing Extended to June 2021
The Fane Tower project lives for another day. New York developer Jason Fane has been working to build a 46 story residential tower in Providence for more than four years. On Wednesday night, the 195 Commission met almost entirely in closed session for nearly an hour outside of the public&rsquo...www.golocalprov.com
Fortunate in my book, although I hope he alters the design quite a bit. I strongly believe that if this is successful, it will lead to further substantial developments in Providence and more national/international interest in the city. I even more strongly believe that if this fails, Providence will not receive any such interest, to the point where they ultimately have to tear down the Industrial National Bank Building. If that happens I have vowed to never return to the city again, and I currently consider it my 2nd favorite city in New England.
I wouldn't worry too much. I can’t imagine there’s any appetite to actually finance such an ambitious project in Providence right now.
