Funding In Place To Create Apartments In Vacant Building Near Capitol

HARTFORD Conversion of a long-vacant yet prominent building into apartments could begin in early summer in the Frog Hollow neighborhood now that a key piece of funding has fallen into place.

The State Bond Commission has approved $7 million in taxpayer-funded loans from the Capital Regional Development Authority for a $35 million makeover of the former Hartford Office Supply Co. building at Capitol Avenue and Flower Street.

Once construction begins, it would take about 15 months to complete the project, said Roberto Arista, a principal in Dakota Partners of Waltham, Mass., the developer.

The project is expected to add 112 mixed-income rental units and street-level commercial space to the neighborhood.

Arista said the building's location near the state Capitol and in an area where there are state office buildings will help fuel demand.

"We're hoping to capture a lot of those state office workers," Arista said. "It's close to downtown. You can walk across Bushnell Park."

The plans call for 89 market-rate apartments and 23 rentals for low- and moderate-income families. Rents for the one- and two-bedroom apartments will range from $900 to $1,250 a month. Rents for the "affordable" units will be about $100 less a month.

Rents for the market-rate units are about 20 percent lower than the apartments now under construction downtown. Parking will be provided on a lot in the back of the building, but it hasn't been decided if that will be included in the rent, Arista said.

Dakota recently completed the conversion of the former Professional Building at 179 Allyn St. into 63 one-bedroom apartments. Those units began leasing in late February. So far, 12 apartments have been leased and seven more have prospective tenants, Arista said.

The Hartford Office Supply building, vacant since 2005, is in the Frog Hollow Historic District. Its exterior will be renovated to preserve its appearance

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Funding In Place To Create Apartments In Vacant Building Near Capitol