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May 29, 2024

Strong demand seen on Pratt Street for apartments, storefronts 

Hanna Snyder Gambini City and state officials and development team members celebrate at a ribbon cutting ceremony Wednesday for 99 Pratt St., Hartford.
By Hanna Snyder Gambini

The apartments at 99 Pratt St., which debuted in late 2022 as a centerpiece in the broader redevelopment of the historic street, are nearly 99% occupied, with just one available unit and new storefronts below.

City and state officials along with members of the development teams on Wednesday held a ribbon cutting event for 99 Pratt St., which has 97 studio and one-bedroom apartments.

Hartford-based Lexington Partners LLC, New York landlord Shelbourne Global Solutions and LAZ Investments LLC are heading up the broader redevelopment of Pratt Street, and have invested about $59 million in improvements and new projects along the brick-paved thoroughfare. 

Occupancy for the 99 Pratt St. units was around 70% shortly after the apartments debuted. Demand since then has been strong, said Chris P. Reilly, president of Lexington Partners.

The units are filled with mostly young professionals, who enjoy the new Pratt Street storefronts, including a barbershop, restaurants, and coffee bars. 

Kevin Kenny, vice president of Lexington Partners, said there are only two vacant storefronts along Pratt Street. 

A Wonderland Comics store is set to open soon next door to 99 Pratt, and Kenny said he hopes the planned Huskies Tavern at the corner of Pratt and Trumbull streets will debut in time for next basketball season.

Alan Lazowski, CEO of LAZ Parking, said Kenny was instrumental in bringing in 21 new retail leases to downtown Hartford.

Lt. Gov. Susan Bysiewicz said Pratt Street is in line with the vision that Gov. Ned Lamont had in mind for downtown Hartford revitalization, especially with plans for new UConn Hartford dorms nearby that will add to the vibrancy of the area.

“We look forward to seeing more UConn students here to live, work and shop,” she said. 

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