For some years, Providence’s handsome Industrial Trust edifice (the “Superman” building) has stood empty. But the empty Superman building may not be lonely much longer, as the much taller Hope Point Tower by developer Jason Fane is on its way to being built.

Since Mr. Fane does not have enough money to build this proposed $300 million, 600-foot-tall, 46-story monstrosity, taxpayers will have to ante up $30 million to $40 million to help him build it. If it is built, taxes will not be assessed for 11 years, leaving taxpayers again in the lurch. In addition, a 20-year tax stabilization agreement will save Mr. Fane $81 million. A really good deal for Mr. Fane, an out-of-town developer, but not so good for Rhode Island taxpayers.

If built, the probably empty, very tall Fane tower would stand out like a sore thumb, giving passing comedians something to joke about.

Richard Parker

Wakefield