Proposed Fane Tower Gets Another Redesign - Now 47-Stories Tall
Monday, December 05, 2022
New York developer Jason Fane came to Providence in 2016 with the vision of building three major residential towers.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTOver the years, his plans have been revised on a number of occasions, and he has faced regulatory battles, lawsuits, a pandemic, and an explosion in the cost of construction.
The project was once supposed to cost $200 million, then rose to $300 million, and is now facing costs of $400 million or more.
Now, Fane is proposing changes to his most recently approved designed plan.
Fane said in a statement to GoLocal,” “After seven years of design work and legal battles, our team has created a spectacular building plan. The latest round of design changes preserves our core vision of an iconic modern residential tower with best-of-class amenities, a state-of-the-art gym and outdoor gardens atop the podium, and breathtaking unobstructed panoramic views from almost every apartment, while dealing with a different economy than last year.”
“The current economy of inflation, recession, and supply chain issues, increased construction costs and higher financing costs required cost reduction by more efficient design to maintain project feasibility. We now have an elegant design that can get built,” Fane added.
Design Changes - Less Parking, More Units, and Would Still B Tallest Building in the City
The Fane team said, “After over a year of diligent redesign, the Fane Organization has made changes to The Fane Tower façade design and submitted to the I-195 Commission a package of revised conceptual design drawings for Design Review. The revised exterior concept shows smooth harmonious curvilinear lines and rounded corners that are unmatched in Providence. Recognizing local climate, the number and size of balconies has been reduced."
The building will lose parking and adds additional residential floors.
According to the Fane organization, “The tower’s revised structural engineering concept provides greater stability in a more efficient structure, as well as better interior apartment layouts. While the total height of the building remains unchanged, the parking podium is reduced in height, creating a more attractive lighter presence on the streetscape. Two floors of parking have been eliminated, and additional residential floors added to the tower.”
Legal Challenges Cleared, But New Design Requires More Review
Fane won a major legal victory in December 2020, when Superior Court Judge Brian Stern issued a major decision clearing the way for the project.
The suit was brought by Peter Scotti and Associates and others against the City Council and the developer, to block the project for not complying with the city's comprehensive plan.
The Fane organization said in a statement at the time of Stern's decision, "The decision today by Superior Court Judge Brian P. Stern is a very positive step forward. It resolves any outstanding questions on the project’s zoning and validates the zoning approval for the Fane Tower. This decision makes it clear that the zoning is consistent with the city’s Comprehensive Plan. This positive decision clears the way for Fane to move forward actively on the necessary design development documents and other milestones to bring this project to fruition. The Fane Tower will be a spectacular place to live and a great addition to the City of Providence."
The new design changes will put the proposed project back before the 195 Commission.
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