Fane Tower By the Numbers: How Many Condos, Apartments, Jobs, Restaurants and More

Thursday, November 29, 2018

 

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IMAGE: Fane's Toronto property

The debate about the Fane Tower has been raging for nearly two years and the project is still going through the regulatory review process. Lots of numbers are being bantered around about the project. GoLocal decided to talk to the development team and get a full accounting of more than a dozen of the most critical numbers tied to the project.

The spokesperson for the project, Dante Bellini, a partner at the Providence advertising and public relations firm RDW Group, said that it was critical to note that the numbers for the project could change as the project continues to go through the review process.

SEE THE SLIDES BELOW WITH ALL THE NUMBERS FOR THE PROJECT

One clear measuring stick for the project is developer Jason Fane's project in Toronto -- named Chaz Yorkville.

When the Toronto project was developed it was marketed as, "For Mr. Wassermuhl [the architect] and his team it was vitally important that Chaz work both 'on the street” and “in the sky,' which explains the other iconic design elements that make this such a charismatic building. At grade, Chaz is an elegant five-story limestone-clad pavilion with a series of punched recessed windows that give the composition a visually distinct dramatic look. Being neighbourly—fitting contextually into the Charles streetscape—was also imperative to the Chaz design team, so the podium syncs up brilliantly with the Casa..."

GoLocal visited Fane's Toronto project in October and found that in terms of height and number of units it is similar in scope to the proposed tower in Providence. What was striking was that it was unremarkable in the context of Toronto. Fane's building is the third tallest of its block and one of the dozens and dozens of towers in Toronto.

SEE STORY ABOUT FANE"S TORONTO PROJECT HERE.

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Photo of the street scape at Fane's Toronto project

Proponents argue that the amount of private investment into the Rhode Island economy coupled with the number of jobs created are critical. The project will help to keep many who work in the building trade unions employed for years.

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The arguments against the project vary -- some are opposed to the height and others believe that the project as being proposed is being located at the wrong location. Some have argued that the project is better to be located in downtown Providence at the site of the failed One-Ten project near the Turks Head building. Fane and his development team have said they have no interest in developing at that location. Moreover, what developer would develop at a location in which the near majority of the residents would have a view of the vacant Superman building. 

In the approval process, the Fane project received approval for a height variance at the proposed riverfront site last week by the Providence City Council and that approval is pending before Providence Mayor Jorge Elorza for approval or veto. The Council approval passed by a margin of 9 to 5 with Council President David Salvator, an outspoken opponent of the project abstaining. He is also the full-time lobbyist for the RI Realtor at the State House in addition to his part-time role as a member of the City Council.

SEE THE SLIDES BELOW WITH ALL THE NUMBERS FOR THE PROJECT

 

Related Slideshow: Fane Tower By the Number, November 29, 2018

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How many stories tall will the Fane Tower be?  

46

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How tall from ground to top of structure? 

495 feet

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How many restaurants are planned to be located at the project?

2

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How much parking on site below and above ground?  

+/-300 spaces

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How many units in the skyscraper?

+/-420

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How many condos in the Tower? 

+/-130

 

IMAGE: Fane's Toronto project

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Will the Fane Tower have anything on the rooftop?  

Yes. But, the developer has not determined how the rooftop will be developed

 

IMAGE: Fane's Toronto project

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How many estimated residents will live at the property?  

+/-840

 

IMAGE: Fane's Toronto project

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What is the cost of the project? 

The development budget is $300 million, but the construction cost is expected to increase.

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How large is the base of the property estimated to be?  

35,000 square feet

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How much retail will be on the property?  

12,000 square feet

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How long will construction take?

3 years

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How many construction jobs will be created?

1,200 to 1,500

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Amenities?

We expect to provide 30 plus amenities. Potentially tennis in the park. 

 
 

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