McKee says tearing down 'Superman Building' is a possibility

PROVIDENCE — Gov. Dan McKee said Wednesday that if the historic “Superman Building” that stands over downtown can’t be renovated, he wouldn’t dismiss the option of having Rhode Island’s tallest skyscraper torn down. 

Outside the State House for a ceremonial bill signing, a Journal reporter asked McKee for his thoughts about the fate of the vacant building, in the news this week because its owners faced a possible tax sale for unpaid taxes. 

More:Owners of Providence's 'Superman Building' avoid tax sale with pledge to pay back taxes

“Either one is an option,” said McKee. “But something needs to happen in Providence. I think that all options should be on the table.” 

McKee said a “retrofit” of the building was more likely, however. “I think that that seems to be more the established thinking on keeping an iconic building there. But if you can't find a use that you can afford, then I think a knockdown strategy, I wouldn't dismiss that at all." 

The 26-story office tower — christened the Industrial Trust Bank Building at its opening in 1928 — has been vacant since its last tenant, Bank of America, moved out in 2013.  

Despite years of attempts and consideration of state-funded subsidies, Rhode Island leaders and the building’s owners have been unable to find a new tenant or reach an economic incentive agreement. 

In 2017, estimates to renovate the entire office tower were as high as $140 million. 

PayPal, the California-based digital-payment company, had emerged the previous year as a possible tenant for at least some of the building, with the building’s owners, High Rock Westminster Street LLC, also envisioning retail and residential space. 

But any deal was expected to require public subsidies estimated in the tens of millions. 

In 2019, the National Trust for Historic Preservation listed the landmark building as one of the 11 most endangered places in the country. 

High Rock avoided a scheduled tax sale on the building earlier this week when it agreed to pay $444,655 in back taxes to the city. 

In a tax sale, anyone can step forward and pay the outstanding taxes. If the property owner doesn’t repay that debt in the next year, title to the property would go to the person who paid the taxes. 

The Superman Building earned its nickname for its resemblance to the Daily Planet building from the "Adventures of Superman" TV series of the 1950s. 

With staff reports from Patrick Anderson.

Email Tom Mooney at: [email protected] or call, (401) 277-7359