It has recently been announced that PayPal may be eyeing a move to Rhode Island to open up a new operations center. The long vacant “Superman Building” is considered to be in the mix as a possible location. While there is no doubt that this would have a positive impact on the economy and surrounding area, this is far from a done deal. Any deal like this would most likely require a break on Providence property taxes… If you didn’t know they are among the highest in the country for commercial real estate. Let’s hope that PayPal isn’t just using Rhode Island as leverage to get a better deal elsewhere. PayPal or no PayPal we can all agree that something needs to be done with Providence’s tallest Skyscraper. It’s a gorgeous historic building that stands out over the city with loads of untapped potential. The biggest hurdle in the past has been the current owners demand for government subsidies to pay for the renovation and rehab of the building, but lets not get into all that. If you had it your way how would you like to see this building be used? Office space? Luxury apartments? Or perhaps putting a Superman museum in the “Superman Building”?

Artwork: Carolina Arentsen

links to prior posts on the same subject:

https://geopropertiesinc.com/index/oh-heres-one-more-article-on-the-superman-buildings-overdue-vacancy/

https://geopropertiesinc.com/index/providences-superman-building-a-high-cost-gamble/

https://geopropertiesinc.com/index/is-there-a-future-for-downtowns-iconic-superman-building/