The iconic Superman Building stands as a testament to the city's architectural heritage.
David Sweetser, the esteemed owner of Providence’s Superman Building, has died at the age of 70. As the leader of High Rock Development, he aimed to redevelop the iconic structure into 300 apartments, despite facing numerous challenges. His passing raises questions about the future of the ambitious project, which has been pivotal in Providence’s economic discussions. Sweetser was known for his commitment to the city’s revitalization and left behind a profound legacy of ambition and community dedication.
Providence has lost a notable figure in the real estate development industry with the passing of David Sweetser, the longtime owner of the city’s iconic Superman Building, also known as the Industrial Trust Building. Sweetser died over the weekend at the age of 70, leaving behind a legacy of ambition and commitment to the revitalization of downtown Providence.
Described as a devoted family man and a beloved friend by those close to him, Sweetser was at the helm of High Rock Development, the firm responsible for plans to transform the vacant skyscraper into nearly 300 apartments, complete with commercial space on the ground level. The Superman Building has stood unoccupied since Bank of America vacated the premises in 2013.
Sweetser purchased the historic building back in 2008 and had aimed to redevelop it as part of a larger vision for the city. However, recent months have seen setbacks in the redevelopment efforts, despite his commitment to making the building a beacon of achievement for Providence. At the time of his death, High Rock Development was actively negotiating for additional subsidies from both the city and state to facilitate the redevelopment project.
The redevelopment project has faced numerous challenges, including delays and budget increases. The estimated cost of the project has risen dramatically from $220 million to $308 million due to factors such as inflation and high interest rates. Some minor demolition activities have begun at the site, which was originally scheduled for completion in spring 2025. Currently, the building’s estimated value stands at $13.5 million.
Providence Mayor Brett Smiley and interim Rhode Island Commerce Secretary Jim Bennett expressed their sadness over Sweetser’s passing, recognizing his significant contributions to the local community. Fellow developer Buff Chace extended condolences, emphasizing Sweetser’s belief in the city of Providence and his visionary perspective on its revitalization.
While tributes pour in honoring Sweetser’s legacy, the future of the Superman Building redevelopment project has come into question following his death. Community members and stakeholders will now look to the future of the project, which has been integral in discussions about the city’s economic development.
The passing of David Sweetser marks a significant moment for Providence, as the city reflects on his impact in the field of real estate development and his aspiration to transform the Superman Building into a vibrant part of the community once more. Funeral arrangements for Sweetser have yet to be announced, leaving his family and friends to cope with their loss while honoring his memory and the vision he had for Providence.
David C. Sweetser Passes Away, Leaving Uncertainty for Superman Building Redevelopment
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