Senate panel to consider aid for landmark's renovation - News, Weather and Classifieds for Southern New England

Senate panel to consider aid for landmark's renovation

Posted: Updated:

A Massachusetts-based developer has asked the Rhode Island Senate for $39 million in state aid to redevelop the vacant building at 111 Westminster St. in Providence into apartments.

David Sweetser of High Rock Development told a Senate panel Tuesday the $115 million project would create jobs and spur economic activity. He said no such historic re-use project can be done without state assistance.

The plan calls for a state contribution of $9.75 million annually for four years. High Rock wouldn't get any funding until project completion.

Some have compared the request for assistance with that of 38 Studios, which got a $75 million state-backed loan and later went bankrupt. Sen. Joshua Miller, the legislation sponsor, says this request, by contrast, is completely transparent.

Homeless advocates testified against the bill, calling it a "giveaway" for luxury housing.

Powered by WorldNow

23 Kenney Drive
Cranston, R.I., 02920

Telephone: 401.455.9100
Fax: 401.455.9140

Can't find something?

NBC 10 Outerwear Provided by:

NBC 10 Media Relations
Provided by:

Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.