63
      Friday
      80 / 62
      Saturday
      88 / 65
      Sunday
      75 / 58

      Senate panel to consider aid for landmark's renovation

      A Massachusetts-based developer has asked the Rhode Island Senate for $39 million in state aid to redevelop the vacant building at 111 Westminster St. in Providence into apartments.

      David Sweetser of High Rock Development told a Senate panel Tuesday the $115 million project would create jobs and spur economic activity. He said no such historic re-use project can be done without state assistance.

      The plan calls for a state contribution of $9.75 million annually for four years. High Rock wouldn't get any funding until project completion.

      Some have compared the request for assistance with that of 38 Studios, which got a $75 million state-backed loan and later went bankrupt. Sen. Joshua Miller, the legislation sponsor, says this request, by contrast, is completely transparent.

      Homeless advocates testified against the bill, calling it a "giveaway" for luxury housing.

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