East Hartford is planning to use $17 million in state funds and $3 million from town taxpayers to advance three private redevelopment projects, two of which would each add hundreds of new market-rate apartments. The Capital Region Development Authority board of directors, on Thursday, signed off on the use of $10 million in new state bond funds and the repurposing of about $7 million in previously authorized bonding to aid three developments. East Hartford got the CRDA’s blessing Thursday to spend $10 million to demolish the former McCartin School and three large derelict buildings at, or adjacent to Founders Plaza. Town officials want to demolish the empty school to make room for houses that would mix well with the surrounding residential neighborhood. A development partner has not yet been identified. The CRDA board also signed off on East Hartford’s request to repurpose $7 million in previously approved state bond funding to defray costs of a planned development of at least 300 apartments on a 25-acre site off Silver Lane that once hosted a Showcase Cinemas.
https://www.hartfordbusiness.com/article/east-hartford-targets-20m-in-public-funds-to-spur-large-scale-private-developments