According to the Providence Business News, the Industrial Trust Co. Building—fondly referred to as the ‘Superman Building’—in downtown Providence is enduring a financial pinch due to rising construction costs and higher interest rates. Mayor Brett Smiley has proposed a modification to the tax incentives plan to support the owner, High Rock Westminster LLC, in closing the financial gap. The project involves transforming the 26-story office structure into nearly 300 apartments, with initial cost estimates set at $223 million.

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