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July 26, 2021 / 2021 Power 25 Real Estate

2021 Power 25 Real Estate: Roberto Arista

Roberto Arista, co-principal and president of Waltham, Mass.-based multifamily developer Dakota Partners, is one of a number of out-of-state realty investors to take a shine to the Greater Hartford market in recent years.

Dakota made its first foray into the local market in 2015 with the debut of 179 Allyn St., a $15 million redevelopment of the Judd & Root Building that included 63 apartments and ground-floor commercial space.

Roberto Arista

Since then, Dakota — which focuses on affordable rentals but also dabbles in market-rate multifamily — has redeveloped the former Hartford Office Supply Building on Capitol Avenue, built Columbus Commons on the site of a former police station in New Britain, and wrapped construction of Brook Hill Village in Suffield.

In all, Dakota has completed approximately 319 units in the Hartford area, with a total project cost of more than $90 million.

The company has another 250-plus units in its central Connecticut pipeline, including the $26 million Cedar Pointe apartments in Newington, which are starting construction this summer. Meanwhile, Dakota is pursuing approvals and financing for a 180-unit proposed development, called Edge 400, next to the former Bow Tie Cinemas on New Park Avenue in Hartford. Arista said earlier this year that his team is also exploring a mill-to-housing redevelopment project on Hartford’s Homestead Avenue.

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