Tate George, Konover team up

[HartfordTycoon]

This is a really promising development for all of CT's cities and hopefully will be especially beneficial to Hartford. Let's hope they tackle some of those areas that we have been anxiously waiting to see get developed for a very long time.

Hartford Business Journal

Former University of Connecticut basketball standout C. Tate George and West Hartford developer Simon Konover announced today they are partnering to develop real estate projects in underserved areas of Connecticut's major cities.C. Tate George, chairman and CEO, The George Group, based in Newark, N.J.

The George Group, of Newark, N.J., and The Simon Konover Co. said they initially will focus on identifying suitable commercial and residential projects in Hartford, Bridgeport, New Haven, Norwalk and Waterbury. The partners say they intend to develop, own and operate urban properties.

The principals say that in coming months they will reach out to community leaders throughout the state to identify development opportunities.

"Too often, retail, commercial and housing development overlooks under-served urban communities and markets," Konover said in a statement. "Many developers tend to build in suburban areas and miss the opportunity to strengthen our cities by putting underutilized properties back into productive use, and supporting smart-growth strategies that create sustainable communities. Our effort seeks to change that model."

[Lowerdeck]

I've seen Konover's name several times in Danbury as well - particularly with WestConn projects and IIRC the new police station on Main Street as well.

If Konover did the new DPD hq, they did a real nice job - esp. in comparison to the slummy area that was on the corner of Main and East Franklin before.

[beerbeer]

Magic Johnson got very rich using this strategy. With Tate's name in Connecticut, it could prove to be very profitable.

[jcrc]

"Too often, retail, commercial and housing development overlooks under-served urban communities and markets," Konover said in a statement. "Many developers tend to build in suburban areas and miss the opportunity to strengthen our cities by putting underutilized properties back into productive use, and supporting smart-growth strategies that create sustainable communities. Our effort seeks to change that model."

[The Voice of Reason]

as much as that would be a dream for that to happen, I dont think that this partnership would necessarily be enough umph to make konover do a damn thing on a property they have sat on for decades.

Decades..

DECADES

DECADES!!!!

can you tell I take issue with konnover some times.

the dude owned tons of land and does nothing on it. for decades.

Here is a list of Konnover properties in Hartford. there are likely more.

Parcel ID Location Owner

421-006-017 0066 ASYLUM ST HARTFORD ALKON ASYLUM STREET, LLC

417-004-004 0071 ELM ST HARTFORD ALKON CAPITOL AVENUE LLC

417-004-005 0108 CAPITOL AV HARTFORD ALKON CAPITOL AVENUE LLC

423-002-007 0067 CAPITOL AV HARTFORD ALKON CAPITOL AVENUE LLC

423-003-001 0055 ELM ST HARTFORD ALKON ELM STREET LLC

423-002-001 0186 BUCKINGHAM ST HARTFORD ALKON HUDSON STREET LLC

423-002-009 0063 CAPITOL AV HARTFORD ALKON HUDSON STREET LLC

423-006-001 0094 HUDSON ST HARTFORD ALKON HUDSON STREET LLC

423-008-001 0110 BUCKINGHAM ST HARTFORD ALKON HUDSON STREET LLC

423-008-008 0094 BUCKINGHAM ST HARTFORD ALKON HUDSON STREET LLC

423-008-009 0098 BUCKINGHAM ST HARTFORD ALKON HUDSON STREET LLC

421-006-010 0875 MAIN ST HARTFORD ALKON MAIN STREET, LLC

421-006-018 0040 ASYLUM ST HARTFORD ALKON MAIN STREET, LLC

421-006-009 0031 PRATT ST HARTFORD ALKON PRATT STREET, LLC

421-006-002 0196 TRUMBULL ST HARTFORD ALKON TRUMBULL ST, LLC

It should be noted that these properties are literally 50% of the best underused properties in Hartford. I mean most of it is parking lot, and the key lots. the buildings are key buildings as well. I would love to see almost anyting happen on almost any of these lots.

[The Voice of Reason]

ok, so I did a little looking around and if we are lucky this is basicly the same kind of thing as what happened on the Sage Allen building.

Konover owns tons of good land. and some outside development groupe comes in and basicly forms a partnership in order to build on that land.

The George group seems to be fairly successful, and Konover who hate to develop things in CT have gobs and gobs of prime land. maybe we will see something out of all this. who knows stranger things have happened.

[mikel]

It should be noted that these properties are literally 50% of the best underused properties in Hartford. I mean most of it is parking lot, and the key lots. the buildings are key buildings as well. I would love to see almost anyting happen on almost any of these lots.

[HartfordTycoon]

ok, so I did a little looking around and if we are lucky this is basicly the same kind of thing as what happened on the Sage Allen building.

Konover owns tons of good land. and some outside development groupe comes in and basicly forms a partnership in order to build on that land.

The George group seems to be fairly successful, and Konover who hate to develop things in CT have gobs and gobs of prime land. maybe we will see something out of all this. who knows stranger things have happened.

[The Voice of Reason]

You want to see something on those lots? Don't park there. And tell others not to park there. Because they can make more of a profit on parking than putting anything up apparently. On the rare occasions I drive and park in a lot or a garage downtown, I use city-owned lots only.

[mikel]

you dreamer you.

hey I think the concept behind those boycott e-mails are fine and good, but they are completely fruitless.

no one I know ever parks in those lots, because we all have monthly parking up by sage allen in garages, but even if you could find a way to make the Hilton lot 50% empty, the chase family is not crying one tear. they own the property outright and pay minimal taxes, and they have contracted rent payments from pro-park or whomever. so, yes you would hurt pro-park, but not barely even a tiny bit.

same can be said about all the Konover lots bought and paid for 30 years ago. Only one I have ever used is the Bushnell one, and thats free, so unless you find a way to get parking for the theater that is free to ticketholders, and not on Konover land....

The only thing that will ever get these lots developed is if the city starts taxing LAND and not Buildings.

or... some outside like George decides the locaion is irresistable.

[The Voice of Reason]

Hell yeah I'm a dreamer. And this city is lucky enough to have me as a supporter.

as far as Arnold Chase, he does not care about people parking in his lot. he signed a lease with pro-park likely lasting 10 years. He makes the same ammount of money no matter who parks there.

the only time chase will develop is when the land is in extreme demand for a high price condo. its just like the mayor says. after Northland builds its YMCA condo and a dozen other projects happen he is confident that the Chase family will build condos on the old Hilton site. Now, the mayors timeline is way the hell off, but he is accurate as to the events leading up to it. Hartford has to be a hotbed of development with a shiny new arena for the chase family to lift a finger. They likely have a long term contract that guarantees a profit on the parking lease and only pays out some paltry fee like $500,000 if they ever break the lease.

Old money is not motivated by actions, they are in fact not motivated by anything.