EXCLUSIVE: Superman Building Clears Critical USDOT Review — Moves Closer to Financing

EXCLUSIVE: Superman Building Clears Critical USDOT Review — Moves Closer to Financing

 

The developers of the Superman building received positive news from the United States Department of Transportation (USDOT) in support of their effort to secure a federal loan exceeding $200 million.

 

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

The Superman Building is owned by High Rock Development.

 

This week, Michael K. Crossen, who took over the leadership of High Rock after the death of David Sweeter, received a critical email from the staff at USDOT’s Build America Bureau announcing a critical approval.

 

The message to Crossen from USDOT reads in part:

 

Dear Mike,

I am pleased to share that the 111 Westminster Street project successfully passed the vote for the Creditworthiness Review phase.

 

The approval moves the project forward, and GoLocal is told that this is the first project to receive this level of approval under the Trump administration's Build America Bureau.

 

Providence’s tallest building has been vacant and a community eyesore for more than a decade. Despite announcing a deal to convert the building into apartments more than four years ago, it remains dormant.

 

State and city officials have pledged nearly $90 million in subsidies, tax credits, and tax breaks. In October of 2023, Governor Dan McKee promised no additional taxpayer dollars for the project.

 

Crossen has close ties to the Trump administration — READ MORE HERE.

 

The news is a potential big win for the developer, preservationists, the City of Providence, and the McKee administration, who have been working to redevelop the project for years.

 

Providence Mayor Brett Smiley said, "The Superman building is an iconic part of our City's skyline, and I'm happy to see progress being made towards bringing this important building back to life. We remain supportive of the efforts to preserve this landmark, create new housing and strengthen the continued revitalization of Downtown Providence."

 

 

This story is developing…

 

This story was updated at 8:17 PM on June 4, 2026, with Mayor Smiley's comments.