A redevelopment of an abandoned factory that was once a cornerstone of Hartford’s Parkville neighborhood won a key, state funding approval Friday for a $92 million conversion into apartments and business incubator space — a project that could significantly boost the Parkville Arts & Innovation District. On Friday, a committee of the Capital Region Development Authority, the quasi-public agency that provides state taxpayer-backed loans for housing and other development projects in the city and surrounding suburbs, approved an $8.5 million loan for the factory conversion. Developer Carlos A. Mouta, a major force behind redevelopment in Parkville, including the successful Parkville Market food hall, plans 235 market-rate apartments on the upper floors of the factory, at the corner of Hamilton Street and Bartholomew Avenue, and almost exclusively studios and one-bedroom units. CRDA’s full board must still approve the financing plan backed by its committee, and the State Bond Commission also must sign off. Construction — expected to start this year — is forecast to take about two years.
In Hartford’s Parkville, a $92 million redevelopment wins key state funding approval