Rhode Island officials are working on a deal that will bring new life to Providence’s Industrial Trust Building, more commonly known as the “Superman Building.”
The 26-story building, located at 111 Westminster Street, which strongly resembles the fictional Daily Planet Building in the 1950s TV series “The Adventures of Superman,” has sat empty since Bank of America vacated the premises in 2013. The Art Deco building is the state’s tallest building and historic preservationists have urged state and city leaders to save the structure.
Among the many photographs a city sends to a brochure printing service as marketing materials are those of its skyline usually both as seen during the day and its nightscape.
Previously, the building’s age, size and footprint have worked against its renovation. The expense of its redevelopment has caused repeated efforts over the past few decades to fail. At present, plans are being considered to turn the structure into a residential property, a portion of which would be allotted to affordable housing units.
Commerce Secretary Stefan Pryor has said, referencing this latest redevelopment negotiations that he has “the highest level of optimism to date.”
Massachusetts real-estate investor Daivd Sweetser is the building’s owner. His company, High Rock Development, purchased the building in 2008 for $33m.
Recently, the iconic structure has been elevated to the top of the Providence Preservation Society’s 2022 Most Endangered Properties list.
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