According to Providence Business News, the owners of Providence’s Superman Building are pursuing federal financing to help advance redevelopment of the long-vacant downtown landmark. The ownership group is seeking support through the U.S. Department of Transportation’s Railroad Rehabilitation and Improvement Financing (RRIF) program, which could provide long-term, low-cost debt tied to nearby rail infrastructure. The request is part of broader efforts to reposition the Art Deco tower as a mixed-use property and overcome funding gaps that have stalled prior redevelopment attempts. State economic development officials indicated the financing effort reflects continued interest in reactivating the iconic property despite challenging capital markets and high redevelopment costs.

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