Gov. Dan McKee is questioning the financial struggles of the developer behind the Superman building in Providence, Rhode Island. The project to transform the Industrial Trust Building into hundreds of apartments was initially priced at $220 million and funded with state and city taxpayer dollars and private investment. However, owners of the skyscraper have cited inflation and high interest rates as causes for delays and a new, unknown cost estimate. McKee claimed that interest rates should not have halted the project, and that the developer and city leaders have had sufficient time to move forward. A spokesperson for High Rock Development countered that they are working through financial challenges caused by interest rate fluctuations and have not asked the state for additional taxpayer money. Providence Mayor Brett Smiley also pledged support for the project, citing the need to revitalize downtown and combat the housing crisis.

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