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July 26, 2021 / 2021 Power 25 Real Estate

2021 Power 25 Real Estate: Michael Freimuth & Suzanne Hopgood

The quasi-public Capital Region Development Authority (CRDA) in recent years has converted run-down Hartford office buildings into more than 2,000 new apartment units. Michael Freimuth and Suzanne Hopgood have led that success.

Both Freimuth, executive director of CRDA, and Hopgood, chair of its board of directors, stepped into leadership roles at the economic development agency with backing from former Gov. Dannel P. Malloy. The state legislature created the agency in 2010.

Suzanne Hopgood

Their staying power since then reflects the significant impact they’ve had on Hartford’s redevelopment efforts.

Under Freimuth and Hopgood, CRDA in recent years helped develop Dillon Stadium, complete The Front Street District, which is home to UConn Hartford and part of the larger Adriaen’s Landing revitalization project downtown, and helped finance more than 2,000 apartment units.

Michael Freimuth

It’s currently in the process of overseeing a renovation to XL Center.

A few CRDA-backed projects currently underway include a $26 million apartment and retail community near the corner of Park and Main streets in Hartford’s South End and the $50 million first phase of the Downtown North mixed-use redevelopment near Dunkin’ Donuts Park.

In March, CRDA approved funding for the redevelopment of the historic 55 Elm St. office building in downtown Hartford into 164 apartments as well as coworking space and a restaurant.

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