Historic Hartford buildings to become 104 rental apartments

Developers are moving ahead with plans to create 104 rental apartments in two historic office buildings in Hartford, Connecticut. These buildings are part of the new "Bushnell South" neighborhood, which will include housing, restaurants, and public spaces. The project is being led by Pennrose LLC and The Cloud Co. They recently secured $52 million in financing for the apartment conversion. The developers purchased the properties from the state for $1.1 million. This purchase was time-sensitive due to a deadline that had been extended almost a year. Construction will start soon, and the first apartments are expected to open in March 2027. The apartments will consist of a mix of studios and one- to two-bedroom units. Twenty percent of the units will be affordable, aimed at people with lower incomes. Monthly rents for the market-rate units are projected to range from $1,700 to $2,500. The buildings date back to the early 1900s, which presents challenges in the renovation process. One wall in one of the buildings is structurally unsound. Financing for the project involves various components, including a state loan and historic tax credits. Developers have already begun demolition and the removal of hazardous materials like asbestos and lead. They have reported no unexpected issues so far. Future plans may include a restaurant and a rooftop lounge as part of the development. A landscaped plaza will connect the two buildings visually.