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September 12, 2024

Five-acre Hartford site approved for 180-unit apartment development listed for sale

Contributed A nearly 5-acre site at 330 New Park Ave., in Hartford approved in 2020 for a 180-unit apartment development has recently been listed for sale.
By Michael Puffer

A nearly 5-acre site in Hartford approved for a 180-unit apartment development four years ago has recently been listed for sale.

Massachusetts-based developer Dakota Partners’ plan to develop on parking lots next to the cinema building at 330 New Park Ave., near the West Hartford line, passed review by city land-use and state traffic officials in 2020.

Dakota’s plan was to buy the site from Mount Kisco, New York-based real estate investor Diamond Properties.

The sale never happened, and the development never moved forward.

In August, the property was listed for sale by Cushman & Wakefield’s Multifamily Advisory Group as a development opportunity.  

The local site plan approval was good for five years but can be extended.

The cinema building next to the development site now hosts an Apple Cinemas Xtreme and the District Social arcade.

The 2020 approval is for 180 units in three, four-story wood-framed buildings, with 184 surface parking spaces, according to Cushman & Wakefield’s listing. The city could administratively increase that to 231 units in a single, five-story building with 294 parking spaces, according to the listing.

The advisory group includes John Flaherty, Jonathan Bryant, Bruce Lusa and Christopher Sower.

Lusa noted the advantages of the current high demand for housing and the property’s location near West Hartford, with entertainment and retail amenities nearby. He said a few offers have come in so far.

“The hope is we can find a buyer who just wants to plow through and get it built,” Lusa said. “It’s a nice site. We are just trying to find someone to step into Dakota’s shoes.” 

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