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November 12, 2020

Green Bank to move home base to Hartford

Photo | Contributed The Atlantic Works building in Hartford.

The Connecticut Green Bank will move its headquarters from Rocky Hill to Hartford early next year, officials there confirmed to the Hartford Business Journal.

The quasi-public agency, the first of its kind in the country when it launched back in 2011, has signed a lease for approximately10,000 square feet of office space at 75 Charter Oak Ave.

The agency, which finances clean energy and energy efficiency projects and uses public dollars to attract private investment, hopes to leave its longtime home in Rocky Hill’s I-91 Tech Center sometime in the first quarter of 2021, after renovations at the Hartford property are completed, spokesman Rudy Sturk said Thursday.

In all, approximately 35 employees will be based out of the new office, as well as several employees who are with the Green Bank's spin-out nonprofit, Inclusive Prosperity Capital, he said.  

The Charter Oak Avenue building, known as Atlantic Works, has grown into a thriving hub of nonprofits since owner Corporation for Independent Living (CIL) redeveloped the former screw factory in 2013. Its tenant roster includes the likes of Operation Fuel, the Connecticut Community Nonprofit Alliance, the Institute for Community Research, Everyday Democracy, Open Communities Alliance and the Connecticut Women's Education and Legal Fund.

“In addition to providing an efficient layout for collaboration space, the new location needed to align with our mission and provide opportunities for community engagement,” Sturk said. “We wanted to be in a building that we can showcase as an example of the value of clean energy retrofits and the importance of sustainability.”

Atlantic Works is located in the vicinity of three other CIL projects, including Capewell Lofts, a former factory and brownfield site renovated into apartments in early 2017.

The Green Bank, which will continue to have a Stamford satellite office, has been weighing its headquarters options for roughly two years, knowing its Rocky Hill lease was set to expire at the end of 2020. It ended up extending the Tech Center lease into 2021 to allow for more time.

The Green Bank's Rocky Hill neighbor, Connecticut Innovations, vacated the tech park over the summer, opting to move most of its operations to New Haven.

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