Downtown Hartford Residential Projects

[The Voice of Reason]

top secret...

OK well I tried to upload it yesterday and failed, so maybe tonight

more detail on the southern part of Main Street... Taken from the Tax web site.

Downtown FRINGE Housing Stock – 690

Colt 50 apartments currently open

N. Main Apts. 57 low income apartments

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

dorms for the culinary institute in Asylum hill. 160

The linden-53 condos

Townhomes at the Linden-6 condos

250 Main Street: 214 Apartments

360 Main Street: 62 Apartments

10-25 Capitol Ave Townhomes 22 Condos

48 Capitol Ave 4 Apartments

58 Capitol Ave 4 Condo

60 Capitol Ave 2 Apartments

I duidnt look for any others on Main Street over by hook and ladder... but think I got everything else

Edited April 26, 2012 by The Voice of Reason

[The Voice of Reason]

Orange is hotels

Blue is existing housing

Light blue is currently proposed housing

Edited April 26, 2012 by The Voice of Reason

[The Voice of Reason]

With this New development authority that will help to get housing built, Its time to speculate a little more on the current proposals around town.

First off, including rumors, we have 1500+ apartments in the pipeline. Of those some are underway or funded through existing entities and unlikely to recieve funding from the new state agency

They include

55 on the park

-is adding 5 new units in former common areas, but is challanging zoning so it can put 4 more units in what is currently ground floor retail. This would not qualify for any aid.

915 Main Street

- is adding 9 new units in former common areas. This would not qualify for any aid.

Colt Armory South Arsenal

- is adding 79 new units. The city approved a $5.3 million dollar bond to assist the developer in hopes he can use the completed S Armory as collateral for the E Armory.Bond is approved and funded.

110 Wyllis Street

16 town homes new construction -under construction. and funded

50 Elm Street

-2 apartments above a restaurant. from private funds

Front Street Phase II

-115+ apartments and 25,000SF Retail next to the Elks club. Front Street has a pretty massive amount of city state and federal money allocated for housing already. The state funding is part of the old organization, so It should allreday have some backing from the state from back in 2004.

101 Pearl and 111 Pearl

RFP has been posted to turn 175000SF of office space into “anything” however 225 apartments was mentioned by David Pantagore. The city, State and Martin Kenney were involved in packaging this and he may well win the bid, but the ammount of state involvement allready in this project means that the agency will likely not need to be involved in making this happen. The Authority might be put in charge of managing whatever is proposed however even though I dont see much additional aid other than the parking garage, and building they allready contribvuted. (counting it as 200 apartments)

So call that like 426 Apartments that are pretty well already funded... NOT BAD!

Other development plans likely to seek funding from State development authority and therefore much more likely now in my opinion are as follows.

Constitution Plaza Apartments:

-199 Apartments seeking historic credits and may seek other state monies. If they do not get bank funding and need state funding it might delay this project.

370 Asylum Street

~40 Apartments that will seek all kinds of funding much like they did for Hollander I (this could take a while)

777 Main Street

- 286 apartments -likely to need state funding for asbestos removal.

36 Louis St

- 10Ksf building most likely several apartments (6) plus a restaurant

Colt Armory, East Arsenal

-236 units-While the city put together a 5.3 million dollar bond and the state a 1 million dollar bond to finish the South Arsenal and to replace the Roof on the East Arsenal I still see the development agency getting involved to push this project towards completion.

10 Clinton Street Condo -

-200 condos? In order to be a highrise it has to be pretty big. Looking at the lot I would think of a 5 story parking gargae pedestal with a highrise ontop of that. call it 18-22 stories including the garage. Very far out in terms of becoming a reality though, but I have no doubt the state will donate the land, help tear down the buildings, and even provide some bonding to make it happen if there is an interested developer. Depending on the size of the development however, it might actually be worth it. Ownership units are key to the long term health of downtown. and if the state has to invest all that money to make something happen here, it might need to be a large project to spread those costs over a larger return. (Think Hartford 21 big)

AI Tech center

-Between 120 and 192 units, mostly studios and one-bedrooms apartments mixed in with the offices for AI engineers on the lower floors. Hight is now 14 floors, and will absolutely need help from the authority to make it happen. The good news is that this project will surely get support from the state as AI is VERY involved in the community. He is at all kinds of charity events, and business forums meeting with all the right people. Most importantly he has emotional attachment to the city.

So by my count 1100ish units to be funded by this state agency allready. But what about capewell? I bet that gets brought up again, and what about Northland tower or Hilton lot with maybe different developers?? how about the massive RFP for N of I-84 that is getting put together? or the lofts on Capital Ave?

every development that fell short during the last boom is all of a sudden back on the radar to this new agency.

Interesting Stuff!

cant wait till the next bonding session!

[MichaelQReilly]

http://www.courant.com/news/opinion/editorials/hc-ed-hartford-home-incentive-program-20120606,0,2301521.story

We have been calling for a program like this forever. There is no reason this should have taken so long.

[HartfordTycoon]

Definitely long overdue. I know that at the very least employees who are from Hartford will take advantage of it. I think some employers are limiting it to certain neighborhoods which I'm not so sure I agree with. Hartford is a small city and I think the program should be citywide. I'll probably be in the market soon and if I was working for one of those companies I'd definitely take a look at it.

[The Voice of Reason]

as posted in another thread...

http://www.hartfordbusiness.com/apps/pbcs.dll/article?AID=/20120802/NEWS01/120809930/1002

The apartments on the plaza will get $5M as will 777 Main street.

As part of the state funding, the Bank of America building will set aside 40 units as affordable housing, while the Sonesta Hotel will have at least 90 affordable units.

no details yet as to how affordable they have to be.

as far as I knew. the plaza apartments were allready going to be quite cheap, so they are likely just designating 90/199 as 80% regional average.

and since the average in Hartford county is something like 66K these residents would be earning less than 53K. this seems like almost free money.

regardless, the article also mentions that work on both could begin before year end!!!

YAY

[The Voice of Reason]

This thread should get more interesting when the CRDC releases its priority projects in the coming weeks as well as the funding associated with them.

17.7 to the apartments at 777 Main means its almost guaranteed to happen.

the 5 million to both the Sonesta and 777 means that at least 130 of the new downtown apartments will be affordable to entry level office workers as well as hospitality employees, helping to keep the life and energy in downtown not only after 7:30, but after midnight.

Still no word on the RFP for 101-111 Pearl block... weird?!

Its like there are dozens of things going on but not much actualy going on. or not much being talked about. not in the papers, not here.

erie.

[HartfordTycoon]

Still no word on the RFP for 101-111 Pearl block... weird?!

Its like there are dozens of things going on but not much actualy going on. or not much being talked about. not in the papers, not here.

erie.

Kinda of like being in the eye of the storm. lol. Hopefully things are about to pick back up with a vengeance like when Rowland first got Adriaen's Landing off the ground.

[The Voice of Reason]

I was not around for the Roland years... Moved here in July of 06.

I do however feel as though you are right. we may be in the eye of the storm. I do however worry that if the wind does not pick up soon, we may again be behind in another wave of urban resurgande and development.

Its absolutely amazing what is happening in Minneapolis and Boston Right now. There are other examples, but it seems proposals (somthing we have plenty of) are not only surfacing but also starting construction weekly on those cities.

[The Voice of Reason]

With the AI project going to planning at 3 Constitution plaza, Eastern Downtown Hartford is about to change greatly!

199 Apartments at 5 Constitution Plaza

195 Apartments at 3 Constitution Plaza

287 Apartments at 777 Main Street

115 Apartments at Front Street phase II

Assuming AI moves forward, all of these projects have approvals and some funding lined up.

These 796 total apartments will bring alot of people back to downtown. These proposals will represent #1 as well as #3 and #4 on the largest apartment buildings in downtown Hartford list. with H-21 at #2

these 4 projects alone could bring as many as 1000 new residents downtown! The difference will be night and day.

Also, the city/state are apparently down to 2 final bidders on the Pearl St RFP.. Hoping for more housing there of course. With all of these new people, I am expecting the restaurant options to broaden as well.

[The Voice of Reason]

Good article in the courant today.

 

http://www.courant.com/business/real-estate/hc-downtown-hartford-apartments-20121203,0,3780438.story?page=1

 

One thing I liked reading was that becker and becker is moving back from 50-50 low income to 80-20

 

it seems the development authority has the same concerns that I do. regarding perception  of downtown.

 

The article also mentions the sonesta Hotel being very clost to starting work.  Likely Q1 next year.

 

 

I desperately want to see something get started so we can see how the market will shake out.  I am hopeful that the others will not all wait on the sidelines until sonesta is done.  the state money should make that happen.

 

 

 

 

[The Voice of Reason]

Here is an article about the smaller projects!

http://www.courant.com/business/real-estate/hc-small-apartment-projects-20130314,0,5530381.story

 

The good thing about this is that they consider 65 apartments at 390 Asylum to be a smaller project.  I love that!

 

6 years ago 65 units could have been considered a major project.  think of 266 pearl street condos, that was what?  50 units?

 

as a side note... thats a new one to me... 390 Asylum WAS listed as 40 apartments when Hollander first talked about it.  Unless this is a confusion with 179 Allyn street which is listed at 63 apartments.

 

 

reading further....

 

regarding 179 Allyn

Marc Daigle, principal of Dakota Partners Inc. of Waltham, Mass., said that their forecast for rentals is bolstered by encouraging signs of revitalization in downtown.

"There is a lot of excitement in the city," Daigle said.

Daigle and his partner, Roberto Arista, plan 63 one-bedroom units, ranging in size from 550 square feet to 900 square feet. The average rent will be between $900 and $1,000, plus the cost for parking.

The partners plan to restore and retain the brick-and-terra cotta facade, and such attributes as the marble lobby. Windows will be replaced with ones that fit the period of the building, but they will be energy-efficient, Daigle said.

 

their financing will be CRDA and Bank of America.   I think they are further along is almost zero time than some other projects.  Pretty cool, because I think that demand in this part of the city is completely different than over by 777 Main Street.  They are likely to get Aetna, State, and The Hartford employees

 

 

 

 

[HartfordTycoon]

The article was great. I love 36 Lewis St. too. I really wished I had enough to buy it when it was for sale for all those years. It wasn't really expensive either.

[The Voice of Reason]

 

 

Thought I would share...

I decided to make a new map because of that article on smaller projects.

 The reality is that with the burger baby building and the coaches building being turned into apartments, the West end of Downtown is going to be almost entirely built out as residential if everything happens.

 

even more so, if you include capital view as part of this neighborhood, this is what you may well have come 2015-16 using the new 65 unit number for 370 Asylum

 

Add 166 apartments

 

 370 Asylum - 65 Apartments

179 Allyn - 63 Apartments

201 Ann - 20 Apartments

283 Asylum - 18 Apartments 

 

to existing

 

West Downtown Housing Stock -505 units
The Metropolitan 50 condos
410 Asylum 14 market rate, 56 affordable Apartments
Union place- 69 Apartments
Art space- 46 Apartments
Capital view 270 Apartments

 

Hotel rooms -213 Rooms
Hotel Bond (Homewood Suits) 117 hotel suits
Holiday Inn downtown 96 Rooms
 

505 apartments  averaging 1.3 residents per unit

213 Hotel rooms averaging 63% occupied

so about 790 people sleep here every night in theory

 

add those 166 apartments

and we jump to 1006 residents in the area.  Also, at this point the only buildings not used as residential are on the outside ofthis area (like the goodwin)

 

These 4 projects are not big and sexy but they really complete this area and hopefully begin to put development pressure on the Hilton Block.

 

 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

Another interesting look at the downtown map is just how much of downtown I now have colored in as existing housing/hotel or proposed housing/hotel.

 

and that in terms of what will be the "center" of town, honestly, Pearl Street looks like it could end up and the center of it all.  the most active area right now I feel is near citysteam because the Temple Street apartments really add life at all hours with people walking dogs and such. 

 

I am not sure how much this might change but the concentration of it all looks like it might shift to Pearl and lower Trumbull Street.  Maybe even Lewis Street. 

 

 

 

[The Voice of Reason]

http://courantblogs.com/ct-real-estate/crda-approves-funding-for-two-smaller-scale-apartment-conversions/

 

with this article about funding 179 Allyn and 201 Ann, the CRDA has apparently really started to make moves.   Also, this increases the number of funded projects to a pretty good % of the total.

 

 

Front Street Phase II is fully funded (not CRDA)    -115 Apartments

777 Main is CRDA funded     -286 Apartments

10 Constitution Plaza is CRDA funded   -199 Apartments

179 Allyn Street is CRDA funded  -63 Apartments

201 Ann Uccello St is CRDA funded    -20 Apartments

 

were there any others yet?

I dont think AI Engineers has been funded yet, and we have heard nothing about 101-111 Pearl.

 

Regardless, those 5 funded projects represent 683 Apartments!

thats pretty awesome

[The Voice of Reason]

on the CRDA site i was looking for minutes or something from the last housing committee meeting but couldnt find anything.

but I found this

 

http://crdact.net/maps/crda_district_map.html

this shows a list of potential housing locations in the city as determined by CRDA.

 

its pretty darn interesting because it includes almost everything currently proposed (I think 201 Ann and 179 Allyn are the only two missing)

 

there are a few not yet proposed, or only extremely rumorish..(I made that word up didnt I)

 

Not in the current pipeline but listed on the site

 

1: the state office building on Elm and Clinton Street (rumored by Bushnell a while back)

 

2: 376 Capitol Ave (this was proposed like 6 years ago as a conversion into 114 lofts

 

3: Goodwin Hotel (listed as a housing opportunity.   this is a no brainer really, but would also be nice as a hotel.  either way it needs to be put back into work.

 

 

they also have development zones.   not sure what thats all about.  

 

[The Voice of Reason]

376 Capital Ave is back!

 

its at planning to have the previous approval as 113 loft style apartments re-instated!

 

good to see the perifory getting going again...

 

would like to see work start on something though here its getting rediculous.!

[Chessplayer]

Completely agree -- what will be the first groundbreaking and when will it happen? We've been on the cusp of substantial downtown investment for years.

[The Voice of Reason]

CP, its slowly killing me.  supposedly we have what?  3 projects sshovel ready... and half a dozen more that are exceptionally close...

 

lets get this started before we miss out.

[The Voice of Reason]

376 Capital Ave is back!

 

its at planning to have the previous approval as 113 loft style apartments re-instated!

 

good to see the perifory getting going again...

 

would like to see work start on something though here its getting rediculous.!

 

 

http://courantblogs.com/ct-real-estate/hartford-office-supply-building-again-targeted-for-apartment-conversion/

 

so, here is an article confirming.

[The Voice of Reason]

With the recent plans for Pearl Street being released, I feel as though their plan is fairly far along.

 

I you think about it we have never even once seen a rendering for any other project save the two ground up construction projects, AI, and Front Street II

 

Also, the details including a penthouse and such are nice to read about.  So we can assume that these buildings might be a little more classy than some other projects and would put it status wise on par with Trumbull on the park and such. 

 

I'd like to get more details on Clarion, 777 Main and others.

 

we should all take bets to see which project of all the rumors and plans  starts construction first.

 

[The Voice of Reason]

OK, thanks to the HBJ here is a peak into what should be on the upcoming bonding commission meeting

 

http://www.hartfordbusiness.com/article/20130614/NEWS01/130619876

 

• Five Constitution Plaza, a $23.9 million conversion of the former Sonesta Hotel into 193 market rate residential units.
• Allyn Street, a $14.9 million conversion of a mostly vacant commercial building into 63 one bedroom units.
• 201 Ann Street, a $4.38 million office building conversion into 22, one bedroom market rate units.
• 287-91 Asylum Street, a $1.7 million office building conversion into studio, one and two bedroom apartments.

 

What I like about this is that this funding will almost definately force the start of 5CP

and presumedly the others as the article indicates.

 

If these 4 projects all kick off at around the same time, the great thing is that its a perfect mix

 

the biggest building will surely take the longest to convert.  this will allow the others to start leasing and absorbing deband before 5 CP comes online.

 

based on cost alone, 5 CP should fill relatively quickly.

 

I am hoping that Front Street II also kicks off pretty soon as this will take longer to build than any of these to convert...ands its fully funded.

 

this leaves the big boy at 777 Main, and 101-111 Pearl as a second step, with AI tied in somewhere

Im thinking 777 is most likely next in that group and will come online after 5CP is well into leasing.

 

[beerbeer]

Here's the Courant article http://courantblogs.com/ct-real-estate/state-bond-commission-backs-funding-for-downtown-hartford-housing/

 

It says the Sonesta conversion should be the first to go. So go already.

 

Jeffrey D. Ravetz, president of New York-based Girona Ventures, a partner in the hotel conversion, said Friday the bond commission approval was key to the package while the tax credit issue is being sorted out. Work on the conversion is expected to begin by late October, he said, and include 54 studio, 125 one-bedroom and 14 two-bedroom units. Of the total, 32 will be affordable.

 

I think once these get started, it will be a wave with UConn and hopefully the brewery joining in.

Edited June 23, 2013 by beerbeer

[The Voice of Reason]

Lets hope BB, lets hope!

 

I think 777 Main will be delayed byt the damn Tax credit ruling so that blows!

 

I am hoping that this building starts before October!

 

Heck, I hope several projects start by then.

 

The little ones are easier to make happen because they simply have smaller and easier contracts to negotiate.

 

 

Bit I truely hope by this fall we have several apartments getting converted, and ideally at least 1 of the new construction ones started, plus UConn

 

Say for Example, its just these 4 residential conversions plus UConn plus either AI or Front Street phase II  (Id assume Front Street would be more likely)

 

 

That would be 296 Apartments + 115, so 411 total apartments in 5 buildings.

 

 

 

 

OK, I was gonna add this to the Front Street Thread.

I went to the movies downtown again on Friday, I think my 3rd time there.  first off, I much prefer the trip there versus Buckland etc...

 

It wasnt very busy for a 10:30 showing of world war Z, so thats not really great, but my comment is that its still a weird experience going there.   They couldnt get those Apartments built fast enough if you ask me!

 

Also, the Capitol Grille has its sign up and looks pretty nice but its still a ways from being done.  With that open it will help feel less weird downt there, but Its gonna be strange until there is more life to the area in general.

 

I worry that the theater is almost to early in its opening.  they need more down there to compliment it.  Even something silly like a sports bar would go a long way.  and thats funny because Arch Street might as well be 1000 miles away from the theater because it isnt integrated at all.

 

thats wehy they need to build phase 2 with a residential component.  and they need more connection.

[CTnative4444]

Does anyone have a link to the rendering of the 40+ story tower that was going to be where the YMCA is in Hartford?