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Publish Date : 18-Jun-2013

The state bond commission has included the matter of financial support worth almost $12.9 million intended for four apartment projects in downtown Hartford into agenda next week. This has raised hopes for the potential launch of quite a few project developments.

After the receipt of bonding approval, the Capital Region Development Authority (CRDA) will endorse financing, bulk of which will come in the shape of low-priced loans and investments in equity.

According to the officials, these projects will facilitate inclusion of around 300 apartment units in downtown.

The projects consist of changing the previous Sonesta Hotel in Five Constitution Plaza into 193 market rate apartments via $23.9 million investments, while the Allyn Street venture involves a $14.9 million renovation for almost unoccupied commercial complex into 63 one bedroom apartment units.

The conversion of an office building at 201 Ann Street via a $4.38 million spending will create 22 one bedroom market rate residences.

An office building at 287-91 Asylum Street will be altered into studio, one and two bedroom apartment units via $1.7 million investments.

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