MichaelQReilly
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Posts posted by MichaelQReilly
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First look at the Front Street Lofts. http://courantblogs.com/ct-real-estate/first-look-at-apartment-building-at-hartfords-front-street/
Great look. I'm pumped.
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I saw this the other day. I'm surprised we haven't seen this reported anywhere else.
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Having the subsidized retail should guarantee that these storefronts won't be empty for long once they come on line. That is a great aspect of this deal if you ask me. They should look at doing this for other projects seeking state assistance.
This area of town gets enough foot traffic on weekdays that retail should work here.
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Was glad to see this today!!!
an interesting part of this is that the retail is a second phase with different financing and such... different rules too.
the 35000SF retail will have to be leased at 50% of the going rate for downtown therefore encouraging there to be tenents and for it not to be a profit motivator but a amenity.
Also, they made a deal with the city to get a grocery store as one of the tenents. Since becker succeeded in doing the same in New Haven I am not concerned with his ability to deliver here, especially with 50% rents.
I do hope that they can get financing for this phase 2 asap because a full apartnent with redesigned retail will be amazing here.
Anyone know what this whole project means for that weird extension off the back along Pearl Street? I always thought that it would be nice to reconnect that little street behind this building that looks like it used to go all the way through to Asylum, but something would have to be done to reconfigure the part on the back of the BOA building in order to make it work.
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Phase II to begin in Fall
it says early fall, but lets just call it fall.
Also
In the first phase of Front Street — the entertainment district — Capital Grille has started construction in its space and Infinity Music Hall & Bistro has obtained construction permits from the city.
glad to hear it because I feat the Theater is lonely.
not really but I bet they will only do better the more neighbors they have.Click the link... there is a rendering
also some info on Pearl
will post it in the appropriate thread.
Great news. I have to admit that there were times I was skeptical that this would ever happen. This could really shape up to be a beautiful area of the city once everything is done.
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I went today. The theaters themselves are beautiful. We got there too late to eat at the restaurant, but that looked pretty good. It seems like they might be getting some of the kinks out still, but overall it looked very nice.
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This is all tremendous news, obviously. Now the attention needs to turn quickly to getting phase two built. It would be a shame if these great tenants are unable to make it because half the project is still incomplete, effectively cutting off Front St. from Main St., the Wadsworth, etc.
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We have been calling for a program like this forever. There is no reason this should have taken so long.
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The Hartford times build it seems would be Phase 3
this 115 unit building is the one next to the Elks lodge.
I truely hope that the Hartford times parcel is a lerger project with north of 200 units.
I really think there is room for 2 towers here one being named museum tower (a popular name in many cities) the other being hartford Times tower.. or the times.
I really really really home the Hartford times project if it ever happens is a condo
This all sounds very promising.
One thing that I don't quite understand (and this is probably why I'm not a real estate developer) is between all the subsidies this project has and the strong rental market downtown, how there aren't banks lining up to fund the next phase of the project. Seems like a no-brainer to me.
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Agreed. I hope I am wrong, but there is a stigma attached to riding city busses everywhere and I don't think this will be any different. I also thought that these busway stations would be enclosed. Looking at the website they clearly are not. Of course the renderings show nice summer days... what commuter is going to wait in sub freezing temperatures or inclement weather at these outdoor stops?
I don't think the buses are quite that bad. In 2007 I was working downtown and didn't need my car to leave work for the day. For a couple of months I took the express bus in and out from Glastonbury. I was pleasantly surprised with the experience. If I didn't need to travel during the work day, I would definitely still use the bus.
The intra city buses are another story. I've never used those.
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I love this project. To many of us in the greater Hartford area there is no good movie theater close by. Usually when I go to the movies I get stuck going to the sprawling hell that is Manchester. Once this theater opens there is no question that it will be my movie theater of choice.
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it will be interesting to see the unit breakdown. If its heavy on the studios as has been popular in hartford as of late, I suspect a decent amount of single occupancy. and maybe a lower population, but seriously this is more units than H-21, and surely will have a higher occupancy rate because less corporate rentals. and you know the retail will do pretty well.
The paper version? I didn't see anything online.
Thats great news, I feel like the state will be making much of the buildings along the park available for development with their RFP to buy office space downtown.
Yes, the recent paper version.
But the DPH is on capital over past the courant and the office supply company right? its the building next to the office supply company.
that would be great if both were renovated!
I'm not sure exactly who operates the lab. It is the one that is behind the DEP.
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286 apartments is a great number too.
With 199 on the plaza, and 286 here, we have a pretty significant increase to our total. and this property is right in the center of downtown, so I am thrilled.
This building also kind of acts as a connector between the housing cluster around the Linden and Bushnell tower to the cluster on the corner of Main and Pratt.
Exactly. This location is essentially "ground zero" for downtown. 500 or so residents there can have a huge impact on so many locations throughout the CBD and really tie things together.
BTW, on an semi-related note, the most recent Hartford Business Journal has an article about the Bushnell where their director mentions the possibility of the State donating the DPH lab building once it moves to Rocky Hill and the Busnell partnering with a private developer to turn it into housing.
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This makes so much sense. Let's hope it happens.
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I've been down to the Fairfield Theater Co. several times. It would be great to have that type of venue in the city.
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Any rail money is welcome.
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I'm surprised they dont just slag it and build anew...
This would be the ideal choice, but in the current economy, and considering all of the other empty lots in the city (including the one next door), any full and functioning building is a welcome addition.
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I wanted to add that the HBJ in another article put the number of units at 180
180 units makes this a major apartment building.
in fact, the only buildings bigger would be Hartford 21, and the Bushnel tower/plaza combo.
this is 30 or so units larger than the Sage Allen building/student housing combo.
I am very pleased to see how lmany units this will be.
It's pretty clear that some extensive renovation of this property will be needed given that it is older and that it has lain dormant for so long. Lets hope the rehab extends to the exterior the building as well. Any changes to the front to make the entrance more pedestrian friendly would really help improve that stretch of Columbus Boulevard.
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Hopefully this money can be a small down payment on the residential in phase 2.
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So, with Bank of America moving out of the building the prospect of converting 777 Main into condos is back on the tabple apparently.
Its likely just spin, but at least people are talking residential projects again.
now I am not sure this building would make the best home, but the location would be just awesome!
here is the link and the quote
http://www.courant.com/business/hc-bank-of-america-history.artapr16,0,7876215.story
Michael Grunberg said he may revive a long-dormant plan to place condominiums in the upper floors, an idea he floated in 2006, shortly after he purchased the building.
He said he dropped those plans because Bank of America didn't want to move from those floors.
With the housing market showing some signs of recovery, the timing could prove right. But Grunberg will still have to deal with an empty building and attracting new commercial tenants to downtown Hartford is tough, even in better economic times.
Now, Grunberg said, there will be no restrictions on the options.
With no real prospect of landing a commercial tenant for this building, I don't see why Grunberg wouldn't seriously consider an apartment conversion. All of the recent real-estate developments in downtown have shown that there is pretty high demand for smaller apartments. Why not convert a few floors into 1 bedroom units aimed at younger people and see how they do and if the demand is there convernt a few more floors? How awesome would it be for the city to have a big builing right in the geographic center of downtown filled with young people?
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Your my boy Blue!!! (vlad)
I think it is meant as created by construction, but yes I agree.
and the fact that the director of facilities at aetna has repeatedly stated that his company ALONE would over burden the entire busway capacity during commuting hours.
he said he supports anything that helps, but he conciders this a poor return on investment and favors rail. I think he said something along the lines of "we need rail, busses, streetcars, and roads. a robust transit system"
I hate people too!
Hopefully, this is one case where the buereaucratic clusterf*ck that is the DOT actually helps us. The longer this project floats in limbo, the more people have realized what a disaster this is. Let's hope that public opinion continues to build against this thing and that the legislature is ultimately forced to step in and kill it.
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I like the idea of business men running for office. But Lamont is a member of the lucky sperm club, rich from the day he was conceived. So if his businesses failed, their was no risk. Love to see a real entrepreneur run for governor.
Well, there's always Linda McMahon for Senate. Her and her husband didn't found the company, but they did make it what it is. The only thing you have to worry about is how a woman who got rich off of dozens of her former employees dying before the age of 55 is going to be bothered to care about the common man.
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The latest from the Courant.
not really but I bet they will only do better the more neighbors they have.
IN PROGRESS: 777 Main Street Residential Redevelopment
in Greater Hartford
Posted
http://touch.courant.com/#section/2225/article/p2p-79756898/
Boom. Let's change this thread to "in progress."
This one has the potential to be a game changer. This is ground zero for downtown and should have a ripple effect once it's on-line.