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August 30, 2018

Developer replaced in Hartford’s Main-Park St. redevelopment

A new team is replacing Hartford nonprofit CIL as the overseer redeveloping two blighted lots in Hartford at the corners of Main and Park streets, the city said Thursday.

South Norwalk-based Spinnaker Real Estate Partners LLC and Hartford’s Freeman Cos. are taking over the South End redevelopment project after bidding on it in March.

Hartford Mayor Luke Bronin said CIL is a “great partner” but the city and the developer were unable to agree on financial terms for the project.

Spinnaker has not yet released plans for the vacant site.

Following an RFP process, the city's Department of Development Services recommended CIL for the project in March. The nonprofit developer’s plan included a mixed-use development that would include retail and residential space in four, four-story buildings on Park and Main streets --just south of downtown -- and townhomes along John Street, the city said.

Matthew Edvardsen, Spinnaker’s director of acquisitions and asset management, said his firm is “cautiously optimistic that, working collaboratively with the City of Hartford, we are well positioned to pursue the redevelopment of Park and Main.”

“Our proposal,” he added, “is to improve the urban fabric of a crucial junction within a prominent Hartford neighborhood by advancing a high quality, contextually designed development that benefits the entire community.”

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