Residents, officials react to housing plans for ‘Superman Building’
PROVIDENCE, RI (WLNE) – For nine years, the so-called “Superman Building” in downtown Providence has sat empty, waiting for its next role. Just last week, Gov. Dan McKee announced plans to breathe fresh air into the space in an effort to solve the state’s housing crisis.
With 285 new housing units set to fill the halls, some said it could be a win-win for developers and residents.
“The state needs to invest some dollars in this project, otherwise it’s going to continue to be vacant and nobody’s going to have housing,” said Joe Paolino of Paolino Properties, who owns multiple businesses just next door.
“People move out of Providence because they can’t find a place that’s affordable to rent,” said mayoral candidate Brett Smiley, who hopes this move will help keep more Rhode Islanders in state.
Yet, some question the finances backing the $220 million dollar project and if it will actually help provide the housing it claims to as an unprecedented 20% allocation goes towards affordable units.
In a collaboration of historic tax credits from both the state and federal government — as well as $5 million in grants from the city of Providence and a 30-year tax stabilization agreement — one of the most controversial parts of the deal is $10 million from the city of Providence as part of the PVD Housing Trust.
“When that fund was created, the city took out a bond for $24 million dollars. We’re giving a developer 10 of those 24 million dollars,” said mayoral candidate Gonzalo Cuervo. “At the end of the day, there are really only going to be 14 affordable units in that building.”
The question those in the working class are asking: Are those “affordable” units actually within budget for the people that need it most? At $1,211 for the lowest price unit for a single-family income of around $48,000 per year, those ABC 6 News spoke to said “no way.”
“Twelve hundred dollars for this here? At downtown? For a poor person? No,” said longtime Providence resident Angelo Ramos, shaking his head as he looked up at Superman Building.
Ramos, who has been on disability, said he’s been seeking shelter each night for his wife and 3-year-old child since losing their housing eight months ago. Despite qualifying for affordable housing, he’s still waiting for a unit that matches his needs to become available.
A second Providence resident, Jawond Brown, also weighed in on the cost of $1,211 for an affordable unit.
“It’s not affordable housing,” Brown said.
Before a ribbon cutting ceremony Monday afternoon, Smiley said he recognizes the repurposing of the Superman Building once again won’t solve the crisis.
“While it’s true that this may not be a fit for exactly everyone, the solution for our housing crisis is just to create more housing. Across the board,” said Smiley.
