Ideanomics sells former UConn West Hartford campus for $2.75M after plans for Fintech Village dissolve; buyer, future use of site not disclosed

Ideanomics once planned a thriving technology hub for the property, touting that it had the potential to bring hundreds of high-tech jobs to Greater Hartford, but decided to sell the property after its plans for the $400 million “Fintech Village” dissolved. In a March 31 filing with the Securities and Exchange Commission, Ideanomics said it had accepted the offer on Jan. 28 and “subsequently signed a non-binding sale contract on March 15.” Ideanomics bought the property for $5.2 million in 2018. “This is a very important parcel and the town would like to have the opportunity to work with a new owner to see that the property is properly remediated and developed in a manner consistent with our” plan of conservation and development, Hart said. The redevelopment of the former campus is viewed as a once-in-a-generation opportunity to boost the town’s tax rolls. But the redevelopment has been complicated because portions of the property where many of the campus buildings now stand remain contaminated by PCBs. The cost of cleanup could figure heavily into the scope of future development.

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