Financing In Question If Developer Hampers With History

PROVIDENCE, RI— Developer Sage Hospitality Resources, based in Denver, may lose financing on a 262- to 264-room hotel project being developed here if officials deem that its plan interferes with the history of the building, according to published reports. The $60-million projects financing rests on $24 million in historical-rehabilitation tax credits from the state and federal governments. However, those credits would be available only if the buildings historic integrity is largely preserved, so the alterations that the developer plans could very well mean that those dollars would be lost. The exact alterations plans would require at least three noticeable changes to the outside of the building. First, the hipped roof of the penthouse would be raised about 25 feet to accommodate guest rooms. Second, a row of guest-room windows would be punched into the east wall of the penthouse. Lastly, the west wall of the temple, facing the Veterans Memorial Building, would be partially bumped out 48 feet wide and 15 feet deep to accommodate further guest rooms. Other changes include adding an enclosed loading dock and employee entrance at the southeast corner of the temple. The entrance would have a canopy and be relatively unobtrusive. In order to accomplish this the developer wants a 75-foot-long loading zone created on the street. As of late, the conceptual design was approved by the Capital Center Commission in a unanimous vote, but the Rhode Island Historical Preservation and Heritage Commission and the U.S. government still have to chime in with their approval before the developer can keep the historical-rehabilitation tax credits. SOURCE: Providence Journal