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November 3, 2021

Hartford Land Bank launching training program for aspiring developers

HBJ PHOTO | GREG BORDONARO Hartford Land Bank CEO Arunan Arulampalam.
By Zachary Vasile

The Hartford Land Bank has launched a new program aimed at minting a diverse group of developers to tackle home redevelopment projects in the Capital City.

The land bank, which acquires vacant, abandoned and tax delinquent properties to facilitate their rehabilitation, announced Tuesday that it has established the “Hartford Development Cohort” to train Hartford residents of color in the restoration and sale of blighted addresses. The nonprofit plans to accept between 15 and 20 residents, who will, at the end of the program, have access to a combined pool of up to $1 million in low-interest loans, made available through the Hartford Community Loan Fund, for their own land bank-directed rehab projects.

“This is a real opportunity to build wealth among our city’s residents while redeveloping blighted properties,” said land bank CEO Arunan Arulampalam. “We have faith that those who live in Hartford are our best asset in rebuilding our neighborhoods.”

Land bank officials said they are looking for applicants with construction backgrounds who can be trained as construction managers and those with “business potential,” who can be developed into project managers.

The class will undergo an intensive two-week training in early December, covering such topics as building a budget, procuring materials, developing a business plan and working with city government.

Graduates of the program will have the opportunity to apply to acquire one of the land bank’s blighted properties and redevelop it with backing from HCLF funding.

The land bank expects to guide developers through the process and will share in their risk to ensure that development groups formed from the cohort are successful.

The program will be free for all selected participants, land bank officials said, and child care will be provided for those who need it.

Applications can be submitted by visiting hartfordlandbank.org, and are due by 11:59 p.m. on Nov. 21.

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