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PROPOSED: AI Tech Center


ConnMan

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I hope you are right. This project has sat idle for quite some time now and all machinery has been removed from the premises. Taxes, insurance and a host of other expenses need to get paid while this project sits as an empty lot and that is not a good thing. As we all know, time is money. And the last thing we need in Hartford is another surface parking lot.

fully agree. saw the last machine was gone yesterday, but it should be noted that those were just the demolition companies machines. if we were not in a recession, we would be assuming this was a good thing and they were making room for the construction companies stuff.

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You would think there would be a certain type of company that would be drawn to a "green" building. It has a specialty niche, I wonder why they are chasing big tenants rather than -what would seem to be-- their natural constituency.

just a guess, but maybe because the big companies have much much more ability to use space right now. a company with billions in assets can more easily look to the future (when this building will be completed) and say they expect to need 200k space at that time due to planned acqyuisitions or projected gorwth or regulatory requirements.

random 100 person company is still wondering if they are going to be around in 2 years. also, random 100 person company can only use 1 floor, maybe 2. this will not get the building built. if he got say 4 floors leased, and the building was GO, then you likely will see these certain types of companies coming along filling in the remainder of the building, because smaller companies are much less likely to assume the building will be built, but if its a definite they will get in on it for principle reasons alone.

again, just thoughts

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  • 3 weeks later...

A Parking Lot On Constitution Plaza? No Way!

Courant.com

One year ago today, demolition began at Broadcast House on Constitution Plaza, the former home of WFSB Channel 3 in downtown Hartford. Lots of people are wondering what will happen to the hole in the ground that's there now. Will it become a parking lot, like so many other prime parcels in the capital city? Abul Islam, the owner of AI Engineering in Middletown, bought the property and tore down the 60s-era building with the dream of opening an ultra-high-tech, green office tower about a dozen stories high, for his firm and others yet to commit. Meanwhile, people have asked Islam whether he's willing to let them use the site as a parking lot, he revealed at a forum Wednesday night at the Hartford Public Library, on innovation and technology in Hartford. His indignant answer: No way! So Islam waits and hopes for enough tenants to finance his $45 million project.

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A Parking Lot On Constitution Plaza? No Way!

Courant.com

One year ago today, demolition began at Broadcast House on Constitution Plaza, the former home of WFSB Channel 3 in downtown Hartford. Lots of people are wondering what will happen to the hole in the ground that's there now. Will it become a parking lot, like so many other prime parcels in the capital city? Abul Islam, the owner of AI Engineering in Middletown, bought the property and tore down the 60s-era building with the dream of opening an ultra-high-tech, green office tower about a dozen stories high, for his firm and others yet to commit. Meanwhile, people have asked Islam whether he's willing to let them use the site as a parking lot, he revealed at a forum Wednesday night at the Hartford Public Library, on innovation and technology in Hartford. His indignant answer: No way! So Islam waits and hopes for enough tenants to finance his $45 million project.

Good for him. And good for us. But let's see if this is still his answer in March when he is in the same situation.

I hope things happen but it will be a long winter with another hole in the city if they don't begin soon.

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Good for him. And good for us. But let's see if this is still his answer in March when he is in the same situation.

I hope things happen but it will be a long winter with another hole in the city if they don't begin soon.

having met and spoken to Mr. Islam about a half dozen times, I can tell you this much. He is a good man, and a man of his convictions. he is anti parking and very supportive of alternative commuting methods. he even has a locker room for bicycle commuters in his building plans.

i may look like and ass fo all of this "blind faith" but I am not worried about this project as long as Mr Islam owns the land.

6 months of taxes will not break his resolve. the taxes on vacant land is almost nothing in Hartford

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having met and spoken to Mr. Islam about a half dozen times, I can tell you this much. He is a good man, and a man of his convictions. he is anti parking and very supportive of alternative commuting methods. he even has a locker room for bicycle commuters in his building plans.

i may look like and ass fo all of this "blind faith" but I am not worried about this project as long as Mr Islam owns the land.

6 months of taxes will not break his resolve. the taxes on vacant land is almost nothing in Hartford

That's all fine and good but where do his tenants come from? He's been looking for over a year. Whoever is doing his real estate marketing, isn't doing a very good job.

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That's all fine and good but where do his tenants come from? He's been looking for over a year. Whoever is doing his real estate marketing, isn't doing a very good job.

no one is leasing anything anywhere right now. but who knows maybe you have a point.

Anyhoo, some more info for the brain worm

AI spend 700k on the building and assume a bunch more for demo and architects and stuff. I think he says he is in for 1.5 mill? I dunno, seems High, but its over a million anyways.

now, the building was knocked down, so no taxes on that any more.

the 433,970 was the land value according to the city in 2009 with a mill rate of 72.79 it seems as though his annual tax burden is just $31,590. in the context of building a $40,000,000 building, this is an insignificant sum.

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  • 6 months later...

Walked by this site today up on the Plaza and between an empty Spris, an empty hotel, yellow caution tape and temporary fencing at the plaza level surrounding the hole where broadcast house was and a horrible job of patching much of the concrete around the fountain, CP has definitely seen better days.

The apartment project can't start soon enough.

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Walked by this site today up on the Plaza and between an empty Spris, an empty hotel, yellow caution tape and temporary fencing at the plaza level surrounding the hole where broadcast house was and a horrible job of patching much of the concrete around the fountain, CP has definitely seen better days.

The apartment project can't start soon enough.

Looks like this parcel is gonna stay empty for a long long time............ I knew I should of bought stock in parking.

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  • 5 weeks later...

I'm definitely still rooting for this project. I really hope that Mr. Islam can pull this one off. If he can actually get this thing built, and the Clarion is renovated into apartments as planned, that part of Constitution Plaza will essentially be reborn.

Hartford Business Journal

Engineer and developer Abul Islam says his vision for erecting the retail-office building on the former site of WFSB Channel 3's television studio in Constitution Plaza remains intact amid whispers that the project is dead and that he has had offers to sell the cleared site at the corner of Columbus Boulevard and State Street.

"Absolutely not,'' Islam told HBJ Today last week. "Even if I do [get an offer], I would not accept it.''

"I'm committed to the project. A lot of things are going on behind the scenes,'' he said. "It's just a matter of getting the money.''

...........

Meantime, Islam says he was contacted by the new owner of the vacant, 12-story Summit/Clarion/Sonesta Hotel next door to his property.

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I personally was interested in this part of the article the most

Meantime, Islam says he was contacted by the new owner of the vacant, 12-story Summit/Clarion/Sonesta Hotel next door to his property.

He and representatives of New York-based Wonder Works Construction and Development are scheduled to sit down in a month or so to share their visions and exchange ideas, the developer said.

I really hope they work together to get both projects done, and maybe build in some design features that make them better than the sum of two parts.

for example, if the clarion developers need a little extra parking, and AI can incorporate it, or the Clarion maybe wants to add in some additional housing on upper floors of AI? who knows whats possible

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I personally was interested in this part of the article the most

Meantime, Islam says he was contacted by the new owner of the vacant, 12-story Summit/Clarion/Sonesta Hotel next door to his property.

He and representatives of New York-based Wonder Works Construction and Development are scheduled to sit down in a month or so to share their visions and exchange ideas, the developer said.

I really hope they work together to get both projects done, and maybe build in some design features that make them better than the sum of two parts.

for example, if the clarion developers need a little extra parking, and AI can incorporate it, or the Clarion maybe wants to add in some additional housing on upper floors of AI? who knows whats possible

That part really intrigued me as well. It would be great if they can work together somehow to make both projects materialise and complement each other. Although, I'm sure that the Clarion is more of a definitely gonna happen and AI is honestly still kind of a long shot.

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That part really intrigued me as well. It would be great if they can work together somehow to make both projects materialise and complement each other. Although, I'm sure that the Clarion is more of a definitely gonna happen and AI is honestly still kind of a long shot.

It seems like the AI project may not happen but then again...this guy continues to stick around and offer up comments to articles, so we should at least have some faith since he isnt just disappearing into the sunset.

A mutual interest in developing a piece of our capital city sounds so much better than a competition between developers to buy up one piece of land which they do nothing with.

Let's develop boys!!!

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It needs to happen for this alone.

AI Engineers will occupy about 1 ½ floors in the approximately 214,000-square-foot building that will also include more than 20,000 square feet of retail space. It also will feature a "green roof'' and pub-style rooftop restaurant.

I want to have a drink at that pub, the views should be tremendous.

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It needs to happen for this alone.

AI Engineers will occupy about 1 ½ floors in the approximately 214,000-square-foot building that will also include more than 20,000 square feet of retail space. It also will feature a "green roof'' and pub-style rooftop restaurant.

I want to have a drink at that pub, the views should be tremendous.

You and I will be fighting over a stool at that pub for sure!!!

I also would fully intend to move the US Soccer supporters groups home bar to that location :)

could you imagine watching the world cup on the 12th floor roof garden(beer garden)

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Note to AI:

Just walked by... here's an idearrrr - why not work with the Clarion buyer, tear it down, tear down the stupid 'skybridge' to HSB (tear down Spri's too if you want), then one big building with office, apts, hotel rooms, and restaurants/bars. Get W or Westin chains involved. Go.

Now that is a plan! Would love to see something like this happen.

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Stop tearing down buildings! Do we never learn?

The conversion of the hotel to apartment is exactly what is needed. It takes half, perhaps a quarter, of the time that tearing down a building and putting up a new one would -- assuming one is put up after the vacant lot is created.

Instead of another hole you get a building filed with life and activity. The conversion is by far a better way to go.

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Stop tearing down buildings! Do we never learn?

The conversion of the hotel to apartment is exactly what is needed. It takes half, perhaps a quarter, of the time that tearing down a building and putting up a new one would -- assuming one is put up after the vacant lot is created.

Instead of another hole you get a building filed with life and activity. The conversion is by far a better way to go.

renovating the old hotel is absolutely what needs to be done. If we were Stamford, and there was a huge developer lined up, I say tear down and build new, but we need rennovations more than anything. holes in the ground suck.

regardless, both owners working together is a great opportunity.

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  • 1 month later...

holy crap that just a pile of dribble!

if the developer, and owner, and primary tenant were publicly struggling as a company I'd get quite worried, but the fact is that this developer has announced a tenant not all that long ago, and lets not forget this is the worst recession in ages, so your gonna have to excuse some delays.

just chill out a bit, and if you are pre disposed to showing despair, try at least to wait for some kind of negative news. not just that someone saw someone tinkering with a bulldozer, and that must mean they project is dead.

wait for asphalt to be poured there before you fly off the handle please?

A year later. I wonder if the "voice of reason" has gotten a grip on reality by now?

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While the Hartford business climate is bad (and much of it self-inflicted), this is a country wide problem. Very few companies are expanding. Companies are building their war chests for the looming tax hikes and Obamacare. Most corporations want cash at hand to respond to the huge hits headed their way by the federal government.

But this project only needs on media-sized company to make it go. So even a mild uptick in the economy could put it back on schedule.

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