Work on the 'Superman Building' in Providence starts soon. What's happening first.
The owner of the Industrial Trust Tower in downtown Providence hopes to begin redeveloping the 26-story landmark known as the Superman Building in a matter of weeks.
After a delay of nearly a year, the transformation of the tallest building in Rhode Island into apartments should begin this month, the owner said Thursday. High Rock Development announced that it has applied for a city building permit to begin demolition inside the vacant former bank headquarters, the first step to renovating it.
High Rock had initially planned to begin work at the end of last year, but economic conditions put progress on hold.
Interior demolition of the Superman Building will start soon
In a news release Thursday morning, High Rock announced it has hired a general contractor, Consigli Construction Co., for the project, which includes building 300 apartments above food and shops on the ground floor.
“We are extremely excited to be making today’s announcements, as the process to begin the redevelopment and repurposing of 111 Westminster Street has finally arrived," High Rock manager David Sweetser said in the news release.
The first phase of work, which is expected to last six to nine months, involves interior demolition, asbestos abatement and "other work preparing various aspects of the building for restoration," High Rock said in the release. That work is expected to cost $25 million.
A year ago, the conversion project was expected to cost $223 million and take two years.
An agreement between Sweetser, state and city officials would provide a combined $41 million in state and local financing.
The art deco building has been empty since 2013. So what changed to get the project off the ground?
High Rock spokesman Bill Fischer said selecting a general contractor was itself a multi-month process on top of navigating the rise in interest rates and the current lending climate.
"The timing feels right to demonstrate our commitment to the project to our municipal and state partners," Fischer said. "They need to see the commitment and the equity we are putting forth to put train on the tracks and demonstrate progress. And that is what we are doing in a challenging environment."
Fischer said High Rock is not ready to provide a new estimate of what the project will ultimately cost or say whether it is much different from the $223-million price tag from last year.
The initial phase of construction will be "a top-down process beginning on the upper floors of the building," High Rock said in the news release.
"An exterior elevator (hoist) will be installed on the building to aid in the removal of construction debris. Pending the approval of the City of Providence, trucks and dumpsters will be staged on the Fulton Street side of the building for truck staging and debris removal," the release said.
This article originally appeared on The Providence Journal: 'Superman Building' work to turn it into apartments starting up
