Downtown Hartford Residential Projects

[beerbeer]

HBJ on downtown housing stock. http://www.hartfordbusiness.com/news17051.html?Type=search

Among the apartment complexes that have been in demand is The Lofts at Main and Temple, whose 78 high-end studios and one and two bedroom apartments have consistently been 95 percent to 98 percent occupied.

Trumbull on the Park, the $38.5 million residential and retail complex that opened on Trumbull Street in 2005, has an occupancy rate of about 98 percent.

Other newer complexes like Hartford 21, 915 Main St., and 55 on the Park, are seeing similar occupancies, brokers and landlords said.

Downtown Hartford developer Martin Kenny, the developer of Trumbull on the Park, said he too sees demand for more one-bedroom apartments and studios, possibly as many as 750 units.

Kenny said there is a market that the existing downtown product isn’t addressing: smaller studios up to 525 square feet with rents of $1,000 or less. It’s the type of housing that can be more affordable to residents while still being profitable, since landlords would still be making $2 a square foot, Kenny said. “That is where you need to be for the project to be economically feasible,” he said.

[The Voice of Reason]

HBJ on downtown housing stock. http://www.hartfordb...tml?Type=search

Downtown Hartford developer Martin Kenny, the developer of Trumbull on the Park, said he too sees demand for more one-bedroom apartments and studios, possibly as many as 750 units.

Kenny said there is a market that the existing downtown product isn’t addressing: smaller studios up to 525 square feet with rents of $1,000 or less. It’s the type of housing that can be more affordable to residents while still being profitable, since landlords would still be making $2 a square foot, Kenny said. “That is where you need to be for the project to be economically feasible,” he said.

I thought it interesting that the article mentions Kenny, and he is the picture, but he has nothing to do with the 180 apartments on the Plaza.

I very much hope his statements indicate that he is concidering doing a new development to start to chizel away at that 750 unit demand he is refering to.

I completely agree with Kenny and really hope he can get 101-111 pearl from the city to prove his point some day soon, but if he is going to do anything along those lines, i would be absolutely thrilled.

the 180 apartments on the Plaza are such a good thing because they are another outside developer working in hartford, and we as a city can always use more of those. maybe if we are lucky this will do well and they will do other projects.

[Hiramicus]

I completely agree with Kenny and really hope he can get 101-111 pearl from the city to prove his point some day soon, but if he is going to do anything along those lines, i would be absolutely thrilled.

the 180 apartments on the Plaza are such a good thing because they are another outside developer working in hartford, and we as a city can always use more of those. maybe if we are lucky this will do well and they will do other projects.

Does anyone know the status of 101-111 Pearl Street? Since Perez is out, I would've assumed that there would've been more movement on that front. Also, I think that would be a great place for smaller studios and 1-bedrooms, especially since they are closer to the future Market At Hartford 21.

[The Voice of Reason]

Does anyone know the status of 101-111 Pearl Street? Since Perez is out, I would've assumed that there would've been more movement on that front. Also, I think that would be a great place for smaller studios and 1-bedrooms, especially since they are closer to the future Market At Hartford 21.

i think I'll call the mayors office about that. back last time it was out to bid, Kenney wanted to make it studios, but the winning bidder wanted 36 larger apartments. I want to say it was like 100 units. i will update the pearl st thread with whatever i hear.

[beerbeer]

Do we have an guess at the downtown residential population? Between H21, Apartments on Trumbull, Union Place, 55 on the Park, Capital View, Sage-Allen, the Metropolitan Bushnell Tower and apartments, 915 Main, Artspace and there are bunch of little places like the Lyndon. Heck, a friend of mine once lived in an apartment on Pratt Street.

Anyway, do we know how large the downtown population is at this point?

Edited March 9, 2011 by beerbeer

[beerbeer]

Wasn't there a list at one point? Just asking BTW, the Courant has reprinted the 180 apartment number for the former CP hotel.

Do we have an guess at the downtown residential population? Between H21, Apartments on Trumbull, Union Place, 55 on the Park, Capital View, Sage-Allen, the Metropolitan Bushnell Tower and apartments, 915 Main, Artspace and there are bunch of little places like the Lyndon. Heck, a friend of mine once lived in an apartment on Pratt Street.

Anyway, do we know how large the downtown population is at this point?

[The Voice of Reason]

Wasn't there a list at one point? Just asking BTW, the Courant has reprinted the 180 apartment number for the former CP hotel.

yeah the number actually finally cited from the developer himself is 180-200, so thats nice

let me get you the info you want though.

to be edited in here in a moment

[The Voice of Reason]

PROPOSED:

Former Clarion Hotel on the Plaza 180-200 Studio and 1 BR Apartments

STALLED:

945 Wethersfield Ave. (stalled)

-5 story 30 unit multi family new construction

101 Pearl X? Apartments (RFP-more info this year)

111 Pearl X? Apartments (RFP-more info this year)

Colt Gateway 238 open/under construction

CONSTRUCTION:

990 Wethersfield Ave (in progress)

-24 apartments in renovation from Mill

BUILT

Hotel Bond (Homewood Suits) 117 hotel suits

55 on the park: 132 apartments

Trumbull on the park: 100 apartments

Hartford-21 262 apartments

Sage-Allen 78 apartments +170 student housing

The Metropolitan 50 condos

American Airlines 101 Apartments

410 Asylum 14 market rate, 56 affordable Apartments

1429 Park Street/Design Center Hartford 56 Loft style Apartment lofts

210 Farmington Ave.- 98 units 1-2 bedroom apartments

N. Main Apts. 57 low income apartments

Hampton Inn East Hartford

-121 rooms

The following numbers exclude hotel rooms.

Total residential units 1704 West of river, including Parkview, excluding the Linden.

Total "new" residential units Built downtown 963

Total residential units Built outside of downtown 211

There are 1489 Hotel rooms in downtown Proper, and 336 just over the bridge, so Id say 1825 total.

including hotels and apartments in a loosely defined downtown sphere we are at 3630 total habitable units.

This excludes the linden, but likely should not... how many units in the linden?

also, it excluded Farmington Ave development by Nyberg

Total residential units under construction: 24

Total residential units proposed and likely 180-200

Total residential units proposed and not likely

I colored the projects in the center of downtown Red

These are the most important ones. They will breath life into a once empty urban core.

I colored the projects on the edge of downtown Orange

They are just a little further from the very center of it all.

and I colored the projects around the downtown area green(because yellow is hard to read).

These important projects connect the CBD with the rest of the city while increasing density.

Adding union place, pratt street, artspace, bushnell tower, bushnell on the park, the parkview to my downtown numbers

Edited March 21, 2011 by The Voice of Reason

[beerbeer]

What about Art Space and the Apts at Union Station? They were completed long ago but both are right downtown.

And I would consider Bushnell Tower and condos DT as well.

[The Voice of Reason]

What about Art Space and the Apts at Union Station? They were completed long ago but both are right downtown.

And I would consider Bushnell Tower and condos DT as well.

yeah dude, my edit didnt take and I got distracted by work of all things

I added in everythying now. anyone know how many units are in the linden? there are a couple buildings there that I think really belong to a non downtown neighborhood, but are surely walkable... grey area

Edited March 21, 2011 by The Voice of Reason

[beerbeer]

I'll take a shot at it too. Thanks for the list.

[The Voice of Reason]

I'll take a shot at it too. Thanks for the list.

I edited my lest on the last page. all I am missing is the linden, and really, where do you draw the line.

I am inclined to exclude the linden but include E Hartford condo and hotels, and the parkviews 270 units

and here it is more cleanly..... I missed the 4 condos on main street

Downtown Housing Stock -1910 units

55 on the park: 132 apartments

Trumbull on the park: 100 apartments

Hartford-21 262 apartments

Sage-Allen 78 apartments +170 student housing

The Metropolitan 50 condos

American Airlines 101 Apartments

410 Asylum 14 market rate, 56 affordable Apartments

Union place- 69 Apartments

Pratt street- 6 Apartments

Artspace- 46 Apartments

Bushnell Tower- 176 Condos

Bushnell on the park- 174 Condos and Apartments

Parkview 270 Apartments

487 Main Street- 4 luxury condominiums

Downtown Hotels -1825 Rooms

Hampton Inn East Hartford -121 Rooms

Sheraton - East Hartford -215 Rooms

Hotel Bond (Homewood Suits) 117 hotel suits

Holiday Inn downtown 96 Rooms

Hilton Downtown-393 Rooms

Crown Plaza -350 Rooms

Convention Center Mariott-409

Mariott Suites -124

Total with hotels? 3735

Edited March 21, 2011 by The Voice of Reason

[beerbeer]

I'm going to focus on apartment units. Basically this is the number of units that are about a five-minute walk or less from the grocery store in the city center.

If you expand that south you include 250 Main, Colt, Smith Towers, in short, hundreds more units. This is basically the existing city core,

add in a handful of units here and there.

55 on the park, 132 units

Trumbull on the Park, 100 units

Hartford-21, 262 units

Sage-Allen 78 apartments, 170 units

The Metropolitan, 50 condos

American Airlines, 101 units

410 Asylum, 70 units

ArtSpace 555 Asylum Avenue, 46 units.

Union Place Apartments, 69 units

Bushnell Tower, 176 units

Bushnell on the Park, 180 units

Capitol View Apartments, 264 units

That adds up to 1,600+. With occupancy rates running around 90%, you would think another 500 units would be pretty easy to fill.

It also makes it obvious that 180 new units on CP would make a difference. That's an increase of 12%.

Edited March 22, 2011 by beerbeer

[The Voice of Reason]

It also makes it obvious that 180 new units on CP would make a difference. That's an increase of 12%.

Beerbeer, just sent you an IM and I misnamed capital view, I always think its Parkview....

anyways, I completely agree, 180-200 units at this point in the process is still a huge number. HUGE!

I recall the opening of 915 Main street and its 100 units(70 at first) and the affect that had on downtown, and it was noticable!

the only thing is that the constitution plaza apartments will be away from the action, and we might not notice it as much due to this... I do however feel like we will see a great deal more foot traffic on Temple Street and walking thru State House square plaza...

the closest residential to the clarion is the student housing at Sage Allen, so it might feel a little isolated untill something else is added in that part of town (could be ages)

I think it is realistic that we might get the clarion as well as 101-111 Pearl developed in the next 3 years. this would be a 25% increase to our current housing stock. while none of that would be very sexy, it would be hugely transformative.

[beerbeer]

Just bringing CP to life would be great. Pedestrian traffic is what gives a city juice. They use local business and that in turn drives more street life.

It's great there is a grocer and Movie Theater coming downtown. Next on the list would be to keep a cigar store, add a bookstore, a ben and jerry's/baskin robbins, a bike shop, a kitchen store, and perhaps a Best Buy.

I'm not sure the numbers needed to support that level of retailing but CP Hotel conversion, Pearl Street buildings and a second phase at Front Street would be getting there.

[The Voice of Reason]

Retail is such a funny thing. I think some of those are on the sooner rather than later list, but best buy type retail im afraid is a real rarity in an urban center.

Minneapolis has a large downtown population and some extremely healthy near by districts (warehouse) it has no Best Buy, yet it is the HQ city.

also its almost 5 million in the CSA, so i'm afraid best buy is just not urban...

but yeah it will be interesting to see what we can retain and support as the population grows

[The Voice of Reason]

Here is a fairly comprehensive list

Downtown CORE Housing Stock -1910 units

55 on the park: 132 apartments

Trumbull on the park: 100 apartments

Hartford-21 262 apartments

Sage-Allen 78 apartments +170 student housing

The Metropolitan 50 condos

American Airlines 101 Apartments

410 Asylum 14 market rate, 56 affordable Apartments

Union place- 69 Apartments

Pratt street- 6 Apartments

Artspace- 46 Apartments

Bushnell Tower- 176 Condos

Bushnell on the park- 174 Condos and Apartments

Capitalview 270 Apartments

487 Main Street- 4 luxury condominiums

Downtown CORE Hotels -1825 Rooms

Hotel Bond (Homewood Suits) 117 hotel suits

Holiday Inn downtown 96 Rooms

Hilton Downtown-393 Rooms

Crown Plaza -350 Rooms

Convention Center Mariott-409

Mariott Suites -124

Downtown FRINGE Housing Stock - units

Colt 36 apartments currently open

N. Main Apts. 57 low income apartments

1429 Park Street/Design Center Hartford 56 Loft style Apartment lofts

160 dorms for the culinary institute in Asylum hill.

The linden

Downtown FRINGE Hotels - Rooms

Hampton Inn East Hartford -121 Rooms

Sheraton - East Hartford -215 Rooms

Current plans.....

Constitution Plaza Apartments ~180 units

370 Asylum Street apartments ~70 Units

Prospects

101 Pearl

111 Pearl

Front Street Phase 2

[The Voice of Reason]

I was just looking on Hartfords P&Z web site and noticed a few interesting items.

http://planning.hart...a%207-26-11.pdf

First: 110 Wyllys & 40 popieluszko Ct construction of 16 new townhouses on a vacant lot.

This is part of the continued development of the old projects down there, but its still progress in making this part of town whole. any time Hartford gets 16 townhomes on what was a vacant lot, its an easy win.

The city of Hartford is changing the zoning on several parcels in the North end from Industrial to Business. 173 and 201 Bartholomew, and 45,49 Olive st, and 500 flatbush, 450 windsor, and 540 flatbush.

they are all getting turned into B-3 zone.

55 Trumbull, AKA "55 on the Park" is petitioning to be able to add 9 residential units to the ground floor of the building.... no one was ever going to rent retail on the ground floor, its kind of a monolithic building, and retail is a long way off here. 9 more apartments however would be a nice addition to downtown.

909 Main Street (AKA 901 Pain Street) is looking to "renovate floors 2-9 for the addition of 9 residential units".

so we technically have the potenital for 18 new apartments downtown., and 16 townhomes on the outher edge Funny thing too is that both 55 on the park and 901 are owned by the same company. (Nybergs family friends company out of Philly that he had to sell out to during the recession). So the good thing is that these Philly people are investing in the properties and in Hartford.

Edited August 9, 2011 by The Voice of Reason

[Hartfordfan]

http://blogs.courant.com/rick_green/2011/08/move-to-downtown-hartford.html

some positive numbers on housing.

[The Voice of Reason]

http://blogs.courant...n-hartford.html

some positive numbers on housing.

WOW

Hartford 21 .......................................96% leased

The Lofts at Main and Temple .........97% leased

Trumbull on the Park .......................99% leased

915 Main Street ................................99% leased

55 on the Park .................................100% leased

266 Pearl Street ...............................100% leased

I love to hear this kind of stuff.

[HartfordTycoon]

Reason' timestamp=1312901381' post='1149628]

WOW

Hartford 21 .......................................96% leased

The Lofts at Main and Temple .........97% leased

Trumbull on the Park .......................99% leased

915 Main Street ................................99% leased

55 on the Park .................................100% leased

266 Pearl Street ...............................100% leased

I love to hear this kind of stuff.

With those types of nearly 100% occupancy rates now becoming publicized and the constition plaza hotel redevelopment in the news I expect that interest is spiking for developers looking into new rental housing developments in the area. Investors obviously love what appears to be a sure bet and right now, believe it or not, residential development is becoming a sure bet in Downtown Hartford. This bodes well for Front St. Phase 2, the BofA Building, Pearl St. and every other residential project that has yet to get underway.

[The Voice of Reason]

Only real shame is the size of our market.

I am quite sure the Clarion is happening, as I am sure most potential developers are as well, they they are saying.... How are these 193 new apartments going to affect those rental numbers?

I mean if we have 98.5% occupancy and a market of say 10,000 units you might see some serious development happening, unfortunately we have 1500 apartments, so adding 193 could literally kill demand.

[HartfordTycoon]

Only real shame is the size of our market.

I am quite sure the Clarion is happening, as I am sure most potential developers are as well, they they are saying.... How are these 193 new apartments going to affect those rental numbers?

I mean if we have 98.5% occupancy and a market of say 10,000 units you might see some serious development happening, unfortunately we have 1500 apartments, so adding 193 could literally kill demand.

I see your point but really it should only be an issue in the beginning. Hopefully it gets leased up pretty quickly and we still have overall occupancy of over 90%. The new Hollander project will surely also cause the same type of distortion in the occupancy rate. I think the pace is manageable. The market should be able to reasonable absorb these two projects and set up the environment for additional residential development.

[beerbeer]

Those numbers basically mean the buildings are full as folks move in and out.

They also suggest that the market is nowhere near meeting demand. Conversions of empty properties are cheaper than new stuff. Naturally that is the type of development you would see first. If the Clarion fills up, and I think it will, and the second Hollander fills up, which is very likely given their cost structure, then you still have Pearl Street to convert before someone has to put a shovel in the ground for residential.

[The Voice of Reason]

We have a long ways to go before we "need" shovels.  While I think replacing 1-2 empty surface lots with residential buildings would be the straw that fixes this camels back, I see so many potential residential buildings looking around downtown....

101 Pearl

111 Pearl

777 Main Street

The building that Blackbear is in on Allyn Street

750 Main Street(the brick building on the corner with the CVS)

50 Elm Street

Heck, you can add in some smaller buildings too like the one with the Burger King in it, or even 242 Trumbull (Across the street from XL Center but thats a fairly successful office building, so thats a stretch even if it would make a great apartment building.

any of the buildings on the Southern edge of the park used for govt offices.

and on the ends of downtown there are plenty more like the "lofts on Capital" location allready approved for 114 lofts on the corner of Lawrence and capital

But really, before I didnt mean it a bad thing I just lament that our market is so small developers might be hesitent to start a project untill they see how the project in front of them is doing.  so we would be hard pressed to see multiple developments at once around here.  or more importantly, Hollander and the Clarion are likely as much as we can expect for a while, and anything else is more a result of a brave developer than anything (I see kenny being this guy mind you)  but I doubt we will get 5 projects going like a larger market would.