Fane Tower development in Providence nixed

PROVIDENCE, R.I. (WLNE) — The controversial Fane Tower development in Providence has been nixed.

“Due to recent risk factors outside of my control, it is no longer feasible to move forward with this project,” Jason Fane, Fane Organization president, said in part in a statement Friday.

The I-195 Redevelopment District Commission said Fane’s contractual rights will lapse later this month.

“We appreciate the Fanes’ interest in investing in Rhode Island and we look forward to making the parcel available for another developer,” Marc Crisafulli, chair of the I-195 Redevelopment District Commission.

“The Commission is focused on building out the District in ways that enhance our great capital city and we are excited to deliver on our mission to foster economic development,” added Crisafulli.

Some city leaders feel there should be a different plan in place for the former Fane Tower site.

Nirva LaFortune telling ABC 6 News, “we need to protect our green space in the city, we need to build affordable housing, and so hopefully this is an opportunity for us to really think about how we can ensure that this space remains open.” 

But John Goncalves, Providence City Councilman for Ward 1 said, “I would say that ultimately we know that these parcels are going to be built on, I mean that’s just a fact”.

The Fane Tower was approved by the Providence City Council in 2018, despite criticism from some in the community, including Mayor Jorge Elorza who vetoed the project.

Goncalves added, “there was a vocal level of opposition to this project, but there were also some people who just wanted to see something built.”

“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,” said Fane.