CHFA Chooses Development Team For Downtown Hartford Apartment Project

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My colleague Jenna Carlesso reports:

The Connecticut Housing Finance Authority has chosen Lewis/Pearl Street Ventures, a Hartford-based team, to spearhead development for a $40 million project at 95-101 and 111 Pearl St. that would include new apartments and retail space, Mayor Pedro Segarra announced Wednesday.

The development team includes local developers Sanford Cloud Jr., Alan Lazowski, Timothy Henkel, Sr. and Martin J. Kenny. Segarra said that while negotiations were still ongoing, the project could include as many as 91 new apartments and 15,000 square feet of service, entertainment and retail space at 95-101 Pearl St. and 121 units and 9,500 square feet of retail space at 111 Pearl St.

“While this represents a terrific step forward for Downtown Hartford, there is still much to be done before we see a shovel in the ground,” Segarra said in a prepared statement Wednesday. “Nevertheless, coupled with the Intermodal Triangle project that’s scheduled to break ground in early 2014, significant development designed to generate greater vibrancy and excitement throughout the capital city is just on the horizon.”

Segarra said he is poised to submit a resolution to the city council that would establish a 15-year tax fixing agreement on the two newly constructed buildings

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