COMPLETED: Hartford 21

[The Voice of Reason]

we have 40% occupancy rates downtown, and a bank branch pays rent just as good or better than most retailers.

NO ONE likes walking past an empty store front. Even a closed bank during the evening looks much better than a vacant space any time of day. Convention goers, and visiting business people take notice of shiny corporate bank branches. It means business is done here.

besides the psychological, and visual etc, there is the reality. When I worked in State House Square I occasionally went out for various chores, but banking was one of the most common reasons I left the office. there is a huge ammount of downtown worker that only get out and walk the streets because of those boring banks. They walk from their office to their bank and maybe pick up lunch on the way there or on the way back. these traffic paterns actually matter believe it or not, and often while in my downtown bank branch there are laborers cashing checks. not sure if they just installed new lighting in some downtown office or not, but they straggled long enough to cash check, and maybe got a beer before heading home. As a past blue coller worker, the first stop after the bank was often a bar but thats not really ab ig deal I agree, its really that its just one more tiny positive step.

the extra 20-50-100? (I dont know) people that walk to that branch each day will contribute to the vibrancy of downtown.

whatever, I just like any for of progress. But do not be shocked if you see other additions to the H-21 retail in the near future. no one wants to be the only tenant. New Alliance has broken the cherry.

can you tell I have been drinking?

[MichaelQReilly]

we have 40% occupancy rates downtown, and a bank branch pays rent just as good or better than most retailers.

NO ONE likes walking past an empty store front. Even a closed bank during the evening looks much better than a vacant space any time of day. Convention goers, and visiting business people take notice of shiny corporate bank branches. It means business is done here.

besides the psychological, and visual etc, there is the reality. When I worked in State House Square I occasionally went out for various chores, but banking was one of the most common reasons I left the office. there is a huge ammount of downtown worker that only get out and walk the streets because of those boring banks. They walk from their office to their bank and maybe pick up lunch on the way there or on the way back. these traffic paterns actually matter believe it or not, and often while in my downtown bank branch there are laborers cashing checks. not sure if they just installed new lighting in some downtown office or not, but they straggled long enough to cash check, and maybe got a beer before heading home. As a past blue coller worker, the first stop after the bank was often a bar but thats not really ab ig deal I agree, its really that its just one more tiny positive step.

the extra 20-50-100? (I dont know) people that walk to that branch each day will contribute to the vibrancy of downtown.

whatever, I just like any for of progress. But do not be shocked if you see other additions to the H-21 retail in the near future. no one wants to be the only tenant. New Alliance has broken the cherry.

can you tell I have been drinking?

Well said, intoxicated or not. Is a bank as as good as a grocery store or a Barnes & Noble? No. But, it is a piece of the puzzle. The more filled store fronts generating pedestrian trips, the more likely the kind of retail establishments that we all want become viable.

[The Voice of Reason]

Well, it looks like St Josephs decided to slow things down. a good move in my opinion because you want to be sure your first doctoral program succeeds.

but here is a rendering of the new facade

http://www.courant.c...chool-0428apr28,0,1232810.story

The school has made significant progress toward opening, beyond preparing the location. It has received a licensed from the state Department of Higher Education, and approval from the New England Association of Schools and Colleges to offer doctoral degrees. It has hired a leadership team and faculty.

But the national accreditation agency for pharmacy programs agreed with the college that more time was needed to develop the program, Reid said.

St. Joseph will have a prominent presence in downtown Hartford, with an entrance on Trumbull Street. The college is investing $5 million to construct classrooms and lab space on an upper floor of the Hartford 21 complex.

The city hopes the school will bring more people downtown to patronize restaurants and shops. Some students also may live downtown.

The school projects that enrollment could swell to 300 in five years.

Another H-21 related article was in the HBJ last week.

it was about new Alliance banks new office there.

http://www.hartfordb.../news12872.html

Gibson said the company opened the new branch now because it wants to have a presence in the heart of downtown’s central business district, where it hopes to serve as an economic catalyst. NewAlliance employs 40 people in the city, including those at its Parkville branch.

[beerbeer]

Is this better than an empty store front? I think so.

[HartfordTycoon]

Is this better than an empty store front? I think so.

Way better. Hopefully this does build momentum. I know that Northland is being very selective and so far the tenants are very stable and high quality with Spiritus Wines, NewAlliance Bank, The YMCA, and St. Joseph's School of Pharmacy. That is a good mix and and now hopefully they can get a high end restaurant and grocery store in there.

[The Voice of Reason]

so, this building opened in 2006 right? or was that when it was finished?

no tenants what so ever in the first year or two, likely because retailers noticed the peaking of the econemy, then bubble burst is 07-08

now we have hit bottom and maybe even Northland is getting flexible on rents. so after opening Spiritus 2 years ago, Northland has in the last 12 months added St Jo's Pharmacy school in the office part, a Grocery store and New Alliance bank in the retail part, and are well positioned to gain new tenants who want to be close to the grocery or bank,

as we come out of this recession I think we may well get a few more tenants in there. its just very expensive to be the first to build out a new space in a building like that