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1540 WADK.com Updates

A Rhode Island Commission has approved a revised proposal to build a 46-story skyscraper on the Providence waterfront.

The Interstate 195 Redevelopment District Commission cast their vote Tuesday night in favor of New York City developer Jason Fane's proposal. Fane has scaled back his original plan of building three towers in the space previously occupied by the interstate.

His revised Hope Point Tower proposal includes 7 townhouses, 400 rental apartments and about 100 condominiums. The space would feature retail shops on the ground level.

Fane's legal council says they will next petition for a zoning change so his project can be taken up by City Council. If approved, the building would be the tallest in the city.

Fane is seeking $15 million in state tax credits for the project.

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