Spinnaker eyes $63.3M mixed-use redevelopment of downtown Hartford’s 55 Elm St. office building

It’s been just over a year since Spinnaker Real Estate Partners acquired the historic 55 Elm St. office building — and nearby parking lots — across from downtown Hartford’s Bushnell Park for $6.8 million. Now the Norwalk-based developer is moving forward with plans to redevelop the property, formerly home to the Attorney General’s office and other state agencies. Spinnaker, which is also in the process of developing the $26 million residential mixed-use apartment project at the intersection of Park and Main streets in Hartford, has submitted plans with the Capital Region Development Authority to redevelop the 300,000-square-foot office building at 55 Elm St. into 164 residential units as well as co-working space and a restaurant. Spinnaker is asking CRDA for $13.5 million in support, including a $7 million construction loan and $6.5 million historic tax credit bridge loan. The building was entirely occupied by state employees until the majority of workers relocated in late 2019 to the newly renovated State Office Building on Capitol Avenue.


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