Bond Commission to weigh millions of dollars for Elm St., Pratt St. mixed-use developments in Hartford

The funding on the commission’s Friday agenda would shepherd a $100 million Pratt Street redevelopment into its next phase, kickstart the repurposing of a former state office building fronting Bushnell Park and stake a mixed-income apartment redevelopment project near the Colt Armory. The largest Hartford economic development item the agenda is $13.5 million in loans to help Spinnaker Real Estate Partners redevelop the 55 Elm St. office building into 164 apartments with co-working space and a restaurant. The Norwalk-based developer acquired the 300,000-square-foot building more than a year ago for $6.8 million and plans to spend approximately $63 million on the project, it revealed recently. The quasi-public Capital Region Development Authority (CRDA) is the public funding conduit for both Pratt Street and 55 Elm. The Bond Commission this week will consider a $2 million loan for the Pratt Street Initiative Partnership to assist with the upcoming second phase.

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