Maybe we can sell the Superman Building to Detroit
As we have pointed out until we were Blue in the face, the toxic combination of union and Democratic control of almost every aspect of Rhode Island has created an economic death spiral in which Rhode Island has the highest unemployment in the nation and is losing population.
Yet we sure does love us them Democratic politicians, and the unions which control them.
Now this economic Kryptonite has killed the Superman Building (h/t numerous readers).
Rhode Island’s tallest building will soon be its most visible symbol of the state’s long economic decline.
The 26-story Art Deco-style skyscraper, known to some as the “Superman building” for its similarity to the Daily Planet headquarters in the old TV show, is losing its sole tenant this month. No one is moving in, and the building, the most distinctive feature on the Providence skyline, will no longer be fully illuminated at night, if at all, its owner says.
It’s a blow for the city and the state, which had 9.4 percent unemployment in February and has had one of the worst jobless rates in the nation for years.
Nicolas Retsinas, a senior lecturer in real estate at Harvard Business School, says 111 Westminster, as the building is also known, will be “the ultimate urban pothole.”
At 428 feet, or about one-third the height of the Empire State Building, it was the tallest skyscraper in New England when it opened in 1928 as the Industrial National Bank Building.
Rhode Island’s new state song:DONATE
Donations tax deductible
to the full extent allowed by law.