East Hartford officials are considering an eight-year tax break worth an estimated $5.2 million to incentivize a 150-unit apartment development on a long-vacant property near the Connecticut River. Konover’s development site sits just behind East Hartford’s Great River Park along the Connecticut River. It is immediately west of the Academy of Computer Science and Engineering Middle School, a magnet school run by CREC. Konover’s site is also just south of the Founders Plaza office park, which a group of prominent developers is trying to redevelop into a mix of roughly 1,000 apartments, along with restaurants, retail and other commercial uses. East Hartford’s Town Council is expected to discuss the proposed tax abatement at its Tuesday night meeting. The Capital Region Development Authority last year approved a $6.5 million, low-interest bridge loan to help finance Simon Konover’s plan for an estimated $47.5 million apartment development on a 35-acre property at 341 East River Drive.
https://www.hartfordbusiness.com/article/east-hartford-considers-8-year-52m-tax-break-for-150-unit-apartment-development