Officials approve land sale deal for proposed skyscraper

December 20, 2018

PROVIDENCE, R.I. (AP) — A Rhode Island commission has approved a $3.1 million sale of property in Providence to a developer who wants to build a 46-story luxury apartment tower there.

The I-195 Redevelopment District Commission voted unanimously Wednesday to enter into the deal with New York developer Jason Fane for the proposed Hope Point Tower. Under the agreement, Fane must apply for a tax stabilization agreement with the city and meet requirements outlined by the State Historic Preservation Office.

The city council voted last week to override Mayor Jorge Elorza’s veto of a zoning change for the proposed tower. Elorza said he vetoed the change because the city wouldn’t have final approval of the tower’s design.

The final design of the skyscraper must be approved by the redevelopment district commission.

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