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PigpenMcKernan t1_j46gw2d wrote

Reply to comment by OrdersFriesEveryTime in Share your opinion about Fane Tower by quinntronix

I believe he came to them unsolicited. The just giving away for what will likely be an eyesore full of luxury condos is what bothers me.

Study after study shows that this type of project does nothing for the overall housing stock and sustainability. The developer can just pay extra fees or fines and not include the number of planned “affordable” units.

The state needs to focus on building housing for low and middle income families, that’s what is needed.

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TheSausageFattener t1_j46kyuz wrote

I think the state did its usual of being so desperate for a quick boon they picked whoever schmoozed them enough. It reeks of something like a 38 Studios deal, where at least the studio delivered a good product but their finances were junk.

Has this tower secured financing? Because to me the shallow work list of the developer (they did a tower 10 years ago) combined with increasing interest rates would flag them as a high risk applicant for something of this scale in a city that doesnt yet have this scale.

As a city, Providence appeals a lot to people who work in Boston and want to save a bit on rent without going full suburb. A luxury tower doesn’t really mesh with that dynamic well.

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Unusual_Mousse_7600 t1_j46tgjp wrote

Sorry to say,they are not interested in more housing for low and mids. They can't line their pockets with money from them. Big business always wins. Sorry to feel that way,but in all my years ,it's always a repeating theme.

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