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Hartford is preparing an ambitious $250 million redevelopment of the commercial core of its Parkville Neighborhood.
The plan centers on a $50 million application for state development dollars, which would be leveraged with $200 million from other sources, including possibly from the city, private investment and elsewhere.
Broadly, the plan would boost residential development, job training and new manufacturing development. Many of the finer points of the plan are not being released yet by officials, or are still under development.
But some recently announced projects would find support, particularly those of developer Carlos Mouta, a Parkville native. These include:
· A $72.8 million transformation of an industrial building at 237-245 Hamilton St., into 189 apartments and 80,000 square feet of commercial space.
· A $4.6 million expansion of the Parkville Market
· A 57-apartment development at 17 Bartholomew Ave.
Capital Community College is interested in bringing an advanced manufacturing or training center to the “Parkville Arts and Innovation District,” City Economic Development Director Erin Howard told members of the City Council’s Planning, Economic Development & Housing Committee during a Feb. 2 meeting.
The effort will also target redevelopment of a 33-acre property south of Bartholomew Avenue that the city acquired last summer, Howard said.
“It is also significantly contaminated but at the same time it offers an amazing opportunity for growth in the Parkville community,” Howard said.
The initial project area is bounded by Park Street, Hamilton Street and Bartholomew Avenue, said Elizabeth “Liz” Torres, a member of Vita Nuova, a consultant hired to help with the application.
On Monday, the full council will be asked to endorse the $50 million application to the Department of Economic and Community Development. That grant requires a four-to-one match, meaning the city must find $200 million in other sources of investment in the Parkville Arts and Innovation District, Torres said.
Organizers have identified “five or six” shovel-ready projects in the target area, Torres said.
Combined, these will result in 246 units of new housing and 333,000 square feet of commercial space, Torres said. Plans include a workforce development hub and “innovation center,” where international companies can introduce the latest technology to smaller companies in their manufacturing supply chain, Torres said.
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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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