Proposed residential project in I-195 corridor could remake city skyline

A RENDERING OF HOPE Point Towers, which is being proposed for parcel 42 at Peck and Dyer streets in downtown Providence. New York City-based Fane Organization pitched the project to the I-195 Redevelopment District Commission  Monday. / COURTESY RDW GROUP
A RENDERING OF HOPE Point Towers, which is being proposed for parcel 42 at Peck and Dyer streets in downtown Providence. New York City-based Fane Organization pitched the project to the I-195 Redevelopment District Commission Monday. / COURTESY RDW GROUP

PROVIDENCE – Plans for a residential project called “Hope Point Towers” were unveiled by the Fane Organization at the I-195 Redevelopment District Commission meeting Monday.

New York City-based Fane wants to construct three high-end residential towers on Parcel 42, which borders Peck and Dyer streets, and is 47,157 square feet.
A spokesman for the company said estimates for the project are not yet available.

“We see this as a singular, signature moment in time for the state and city to do something important and powerful to galvanize growth and development – to set the stage for the city’s envisioned future by providing highly desired residential opportunities for the young professionals, students, families, executives and seniors who want either a permanent or temporary residence in Providence to call home,” Jason Fane, Fane Organization president, said in a statement.
Fane noted the project’s proximity to Brown University, Johnson & Wales University and Rhode Island School of Design, as well as “some of the region’s finest health care systems, the financial district, and the emerging technology sector businesses that will fuel Providence’s growth.”

“We see Hope Point Towers as a critical catalyst to the full realization of the Knowledge and the Innovation districts in the city,” he added.

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According to a press release about the project, Hope Point Towers will feature three residential condominium and rental towers featuring 33, 43 and 55 floors on a landscaped five-story podium with views of the Providence River, Narragansett Bay and the city.

Designed by architect Sol Wassermuhl, of IBI Group in Boston, the project will feature retail on the ground floor, as well as common recreational facilities, a resident’s lounge, fitness center, parking garage and landscaped roof terraces for the residents.

In addition, it will incorporate a “European-style” outdoor plaza on the north corner of the site, an outdoor café and a free-standing water sculpture near Dorrance and Dyer streets.

Dyana Koelsch, spokeswoman for the commission, noted it was a preliminary presentation from Fane.

The Fane Organization, which specializes in real estate management and development, has properties in New York City; Ithaca, N.Y.; and Toronto.

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