NYC developer proposes 3 skyscrapers, park for 195 land

hope-point-towers


PROVIDENCE, R.I. (WPRI) — Not one, not two, but three skyscrapers could one day change the landscape of Providence’s skyline if a New York City developer’s bold vision comes to pass.

Developer Jason Fane presented his plan for parcel 42 to the 195 Commission late Monday afternoon.

The proposed name of the development is Hope Point Towers – after the state’s motto. Three towers – 33, 43, and 55 stories high – would overlook the Providence River on one side and downtown Providence on the other.

The high-end apartments would sit on five-story podiums that would include commercial and retail use.

“It would jumpstart the development that people tell me Providence would like to see,” Fane said. “It would help tie together the downtown, the innovation district, the academic community.”hope-point-towers2

Some are a little skeptical of the size.

“At first blush, the height, let’s just say it dwarfs the rest of the city of Providence,” said Sharon Steele, Jewelry District Association vice president. “Is residential a good option? Sure it is. The question is, what’s the right mix of residential and commercial and retail.”

The 196 Commission said it will have to do its due diligence in researching the design, zoning and economic impact the development count have in the city.

“The financial viability is always going to be a concern for any proposal here,” said Peter McNally, executive director of 195 Commission.

If the project is eventually approved, Fane said he hopes to break ground a year from now.