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Two century-old, former state office buildings off Hartford’s Bushnell Park will be redeveloped into more than 100 apartments following their $1.1 million sale Friday morning to a Philadelphia-based multifamily developer.
The Connecticut Department of Administrative Services (DAS) confirmed Friday its sale of the shuttered state office buildings at 18-20 Trinity St. and 30 Trinity St. to Pennrose.
The real estate development and property management company specializes in affordable housing, mixed-use and mixed-income projects. Pennrose is partnered with The Cloud Co. in the redevelopment of the Trinity Street properties. Twenty-one of the resulting units will be set aside as affordable housing.
“This is an exciting outcome, as it will transform vacant office buildings into much-needed housing in the Capitol area,” said Leigh Appleby, a DAS spokesperson, in an emailed response to questions.
The Capital Region Development Authority, in 2023, approved a $6.5 million low-interest loan for the project.
CRDA Executive Director Michael Freimuth, on Friday, said he expects a $52.8 million financing package to be finalized and secured next week. That will clear the way for construction to begin within weeks. The project is expected to wrap up by early 2027, he said.
The sale had been anticipated in November, but compiling financing from various government programs and private sources proved tricky, postponing a closing and tacking on an additonal $100,000 to the selling price, Freimuth said. That additional cost covers the state's carrying costs, he said.
The development is part of a broader push by Hartford officials and the CRDA to promote multifamily and mixed-use development around Bushnell Park, connecting the area south of the park to the downtown. The effort has been met with success, with hundreds of units added, or about to be, and hundreds more in the development pipeline.
“We are excited that these former state office buildings will be converted,” Mayor Arunan Arulampalam said after Friday’s sale. “It will continue the development of the south side of Bushnell Park, which will eventually bridge the Frog Hollow neighborhood and neighborhoods south of there with the downtown to create one, seamless city.”
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