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grock

More Apartments Downtown on the Way

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According to the Business Journal, a deal has been struck to build apartments at 410 Asylum. Construction begins this summer.

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According to the Business Journal, a deal has been struck to build apartments at 410 Asylum. Construction begins this summer.

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I'm glad to see they're going to try to do something more affordable downtown, but I worry that the income restrictions on the "below market" apartments will be too tight to benefit working class and young professionals who don't quite make enough to afford H21 and the other buildings downtown, but who are doing well by most standards and would contribute greatly to the city's renaisssance.

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found the article, thanks!

Downtown Office Space To Be Converted Into Rentals

Common Ground finalizing finances, plans

By Diane Weaver Dunne

Hartford Business Journal Staff Writer

Yesterday

After four years, New York-based Common Ground is expecting to finalize its financing for the renovation of 410 Asylum St., a vacant office building that overlooks Bushnell Park and has views of the state Capitol.

Plans call for six to seven retail tenants to occupy the street-level storefronts, and for the conversion of offices located on the second through sixth floors into 70 apartments.

Original plans called for about 100 housing units in the historic landmark.

410%20Asylum_042307-Thumb-172.jpg Artist's rendering of facade renovations at 410 Asylum Avenue.

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This is great news! Since we don't have a link I will let this article stay up for a while (technically we are not allowed to post full articles though). I can't wait to see that dead gap filled in with life.

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I had been meaning to start a thread on this article.

This project has the potential to be a very good thing. I would normally opposed to subsidised housing. This project, however, should fill a niche that downtown Hartford lacks. As of right now there aren't many mid-market appartments downtown. Most of the existing or future housing stock is targeted at a higher-end clientel, either empty nesters or young doctor/lawyer/financial analyst types. This is all well and good, but it has left out a key demographic, recent college grads who are looking to break into the job market. This group, imho, does alot to add vitality and excitement to a city. If this property can help bring more people of this type downtown, than it can be a big win for Downtown.

here is the link:

http://hartfordbusiness.com/news1317.html

Considering the property was donated to the developer, this is a very attractive project for everyone (the developer, the city, and prospective tenants). It's just what Hartford needs to bring in that young professional crowd it's been trying to lure into the downtown area. Located right across from Bushnell Park, with views of the Capitol Building, and situated in the heart of Hartford's nightlife, this is just the type of property that would draw a youthful crowd into the city and inject some vitality into the area. There also needs to be more projects with comparable unit mixes to this project downtown, i.e. studios and small 1 or 2 BR for rent, basically targeting the largely untapped population of people who are new to the city because of a job, and can't buy a condo right off the bat.

In the very long run I can see this building rehauled into luxury condos, but for now this is just what everyone needs. I'm excited

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This sounds like a great use for that building. No problems here.....

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I would assume it will take a couple more years before occupancy, say 2009.

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I would assume it will take a couple more years before occupancy, say 2009.

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beats the plans way back to raize it for parking. its a nice building in a pretty good local, i hope it does well. hopefully it can fill the middle market void in downtown.

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Hmmm...

Wasn't that the building that someone wanted to tear down a few years back? I'm glad it didn't get torn down. It should be a great location.

JimS

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found the article, thanks!

Downtown Office Space To Be Converted Into Rentals

Common Ground finalizing finances, plans

By Diane Weaver Dunne

Hartford Business Journal Staff Writer

Yesterday

After four years, New York-based Common Ground is expecting to finalize its financing for the renovation of 410 Asylum St., a vacant office building that overlooks Bushnell Park and has views of the state Capitol.

Plans call for six to seven retail tenants to occupy the street-level storefronts, and for the conversion of offices located on the second through sixth floors into 70 apartments.

Original plans called for about 100 housing units in the historic landmark.

410%20Asylum_042307-Thumb-172.jpg Artist's rendering of facade renovations at 410 Asylum Avenue.

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