Hope Point Tower
Update
03/13/23
Plans Dropped for 46-Story Hope Point Tower in Providence, Commission Pivots to Labs
has withdrawn plans for a 46-story high rise along Dyer Street in Providence's Innovation District, citing uncontrollable factors.
"I came to Providence with a vision for a great and iconic project that would provide much-needed housing, quality jobs, and revenue for local government and have worked long and hard to make it a reality. However, due to recent risk factors outside of my control, it is no longer feasible to move forward with this project," Fane Organization president Jason Fane stated. "I wish the I-195 Redevelopment District Commission, the City of Providence, and the State of Rhode Island success with their plans for further development in the I-195 District.”
The project previously faced legal challenges, with the Rhode Island Superior Court issuing a ruling approving the proposed tower, allowing the project to move forward in December, 2020. The project would have featured 618 residential units across a 500+ foot tower, the tallest in Rhode Island.
In response, the I-195 Redevelopment Commission will market the property at 250 Dyer Street after March 25th with a new RFP aiming for a life science project for the site.
