Providence Business News<\/a>\u00a0reports that Cornish has commissioned a study to determine whether converting the city\u2019s tallest building to residential use is physically and financially feasible.<\/p>\nCornish president and CEO Arnold Chace told the Business News that he leans toward repurposing Industrial Trust Tower as a primarily residential property with 200 to 300 units. Cornish\u2019s feasibility study is expected next month, and a final development plan could be in place this spring or summer.<\/p>\n
David Sweetser, founder of High Rock Development L.L.C, told the newspaper that he would consider a variety of possible uses for the landmark at 111 Westminster St. \u201cThere has been a need for housing in Providence for some time, and I think this would go a long way toward satisfying that,\u201d Sweetser explained. \u201cClearly there seems to be a pulse there, but I don\u2019t know yet how viable it is. There could be other uses and a market for offices, retail and student housing.\u201d<\/p>\n
Completed in 1928, the Industrial Trust Tower is also known as “The Superman Building” for its resemblance to the fictional headquarters of the “Daily Planet” newspaper in the 1950s television series. High Rock Westminster L.L.C., an entity controlled by Sweetser, paid $33 million for the property five years ago. The building\u2019s only tenant, Bank of America, will move out completely by March.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
High Rock Westminster LLC, the owner of the 26-story Industrial Trust Tower in downtown Providence, has hired Cornish Associates to study conversion options and redevelop the property. The Providence Business News reports that Cornish has recently commissioned a feasibility study to determine whether a residential reuse of the city’s tallest building is physically and economically viable.
\nDavid Sweetser, founder of High Rock Development LLC, told the newspaper that he is also considering the possibility of creating a mix of uses for the tower. The redevelopment project could also address the city’s strong demand for student housing.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004067020","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n
Developers Weigh Options for \u201cSuperman Building\u201d Makeover - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/developers-weigh-options-for-superman-building-makeover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developers Weigh Options for \u201cSuperman Building\u201d Makeover\" \/>\n<meta property=\"og:description\" content=\"High Rock Westminster LLC, the owner of the 26-story Industrial Trust Tower in downtown Providence, has hired Cornish Associates to study conversion options and redevelop the property. 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