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September 15, 2023

Historic Pratt Street building in Hartford targeted for $7M, 37-unit apartment conversion 

31 Pratt St., Hartford

A downtown Hartford office building that once hosted Connecticut’s first mutual savings bank could soon become a 37-unit apartment building under a proposed $7 million redevelopment.

More than a century old, the former Society for Savings building at 31 Pratt St. currently hosts the elegant Society Room events center along with adjoining office space.

West Hartford developer and investor The Simon Konover Co. paid $1.44 million for the roughly 60,000-square-foot building in 1997, according to city records. 

Now, Konover is seeking to borrow $1.1 million from the Capital Region Development Authority for a $7 million conversion of the property’s office space.

The project would convert office space, not including the Society Room, into 16 studio and 21 one-bedroom apartments.

Simon Konover plans to fund the project through a $4.2 million mortgage, $868,934 in equity, $830,660 in historic tax credits and a 3% CRDA loan.

The project would be the latest in a string of office-to-apartment conversions on and around Pratt Street. 

Attempts to reach a Simon Konover representative were not immediately successful. 

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