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HartfordTycoon

Capewell Condo Plan

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The plan to develop this property into condos has hit a small snag although the city and developer are still optimistic. Hopefully they can work this out. I think it will still happen as there is vast potential in this area of the city.

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The plan to develop this property into condos has hit a small snag although the city and developer are still optimistic. Hopefully they can work this out. I think it will still happen as there is vast potential in this area of the city.

Courant Article

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The greatest thing that I seem to see time and time again with Northland Investment Corp. is that their leadership thinks about long-term profits and investment. It is in my opinion an extremely smart corporation. Northland is willing to weather a short-term downturn, because they know that in terms of housing, Downtown Hartford is very underserved. At some point, any housing in downtown will become extremely profitable.

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The plan to develop this property into condos has hit a small snag although the city and developer are still optimistic. Hopefully they can work this out. I think it will still happen as there is vast potential in this area of the city.

Courant Article

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The plan to develop this property into condos has hit a small snag although the city and developer are still optimistic. Hopefully they can work this out. I think it will still happen as there is vast potential in this area of the city.

Courant Article

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of course the developer is still optimistic! do you think he would publicly say he doesn't see it happening and that the building should just be razed? he needs to put a positive spin on the project to keep public support or the public subsidies would evaporate. he needs to try to get some positive press and maintain, publicly, a positive outlook to assist in the enticement of financial backing. privately, i am sure he is wishing he could walk away. as that property sits, he's not making money, and each day it sits it will cost him that much more to convert further eroding his already significantly narrowed profit margins. The building does not have a 'downtown' location, and downtown is where the money is moving. downtown is where people want to move. Nobody is going to spend $250-300k to live in a condo in hartford not in downtown or on the west end. 1) 250-300k gets you a pretty decent house or one heck of a condo in the burbs 2) that area isn't within easy walking distance to downtown - walkable yes, but not easily when 10 degrees or 90 degrees 3) not the best part of town. 4) city is unproven at this point. alot of positive things are happening in the city, but there are much better options in the area, something that has plauged hartford for years.

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The connection is missing between this area and downtown because of the awkward Sheldon Charter Oak apartment complex.

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The connection is missing between this area and downtown because of the awkward Sheldon Charter Oak apartment complex.

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Looks like even after cutting costs the developers still didn't find it economically feasible. Here is a perfect example of would could have happened at Sage Allen but didn't. I'm glad to hear Northland is still commited to building the new apartment tower at the YMCA site. Although I'd still rather the YMCA building stay for future use and Northland build on one of the 10 empty lots in the city. We have the enormous Hilton Lot right across the street from Bushnell Park which is one of the best locations in the city and yet we must destroy an existing building instead? Sigh.

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