More than $224M in historic building renovations proposed

The Exchange Bank building facing Kennedy Plaza is seeking $1.25 million in historic tax credits. / PBN PHOTO/MARY MACDONALD
The Exchange Bank building facing Kennedy Plaza is seeking $1.25 million in historic tax credits. / PBN PHOTO/MARY MACDONALD

PROVIDENCE – An update submitted to the state on the Rhode Island Historic Preservation Tax Credit program indicates that more than $224 million in historic renovations are proposed across Rhode Island, under applications made through April 21.
The projects, which sought approval through renewed funding of the program in 2013, total $46.2 million in tax credits, according to Edward Sanderson, executive director of the Rhode Island Historical Preservation and Heritage Commission.
A list of pending projects released by the commission, which all have received notice they will receive an allocation, includes the historical National Exchange building. The five-story structure at 59 Westminster St. is nestled against the modern 100 Westminster St. tower. The project, which would involve $7.3 million in renovations, also includes renovations to the Exchange Bank building facing Kennedy Plaza. It remains under review by the Rhode Island Historical Preservation and Heritage Commission but is seeking $1.25 million in historic tax credits, according to Sanderson.
Additional applications made in 2016 for historic tax credits include: $1.25 million for the Case-Mead Building, at 68-76 Dorrance St.; $500,000 for the American Brewing Co. building at 431 Harris Ave.; $250,000 for the Meader Street School at 14 Meader St.; and $100,000 for the Earle Warehouse at 369 S. Main St.

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