The head of the Massachusetts company that owns the “Superman Building” in downtown Providence has died. David C. Sweetser was 70 years old.
“A devoted family man, beloved friend to many, and a titan in the real estate development industry,” said Bill Fischer, a spokesman for Sweetser, in a statement on Tuesday. “He will be missed by all that knew him. He had a booming voice and a charitable heart.”
Sweetser, principal of Massachusetts-based High Rock Development, bought the Industrial National Bank Building — better known as“The Superman Building” — for $33 million in 2008, 5 years before Bank of America completed the removal of hundreds of workers from the iconic Jazz Age landmark.
Attempts to redevelop the Superman Building have languished ever since, eluding a string of governors who hoped it would spur further development in downtown Providence.
Sweetser and Rhode Island state leaders unveiled a plan in 2022 that called for creating 285 apartments in the building and included incentives from the state, but it has yet to move meaningfully forward. In the meantime, property values have plunged for some of the tall buildings in downtown Providence, and the economic picture for construction projects have changed significantly, especially due to concerns about inflation and expected tariffs on materials.
The immediate future of the Superman Building is not yet clear. But a spokesman for Sweetser’s firm said the company plans to discuss next steps.
