Mixed Bag

It’s been a good-news, bad-news week for Northland Investment Corp., which is chaired by developer Larry Gottesdiener.

First, it was reported that a new tenant, NewAlliance Bank, planned to move into Hartford 21 in downtown Hartford, a major boost for the city, which saw its retail vacancy rate approach 40 percent this summer.

But the next day, Northland acknowledged that its CityPlace II office tower was in the foreclosure process after the company failed to make payments on the building’s $25 million mortgage since June 1.

In a written statement, Northland spokeswoman Mary Coursey said, “We are negotiating with the lender to produce an extension that will give us time to get a new loan and a modification of the interest rate.”