Facing rising challenges in the economy, developers Brian Zelman and Avner Krohn are seeking an option to significantly trim an approved 477-apartment development at the former Showcase Cinema site in East Hartford. Zelman is principal of Zelman Real Estate. Krohn is principal of Jasko Development. The town has agreed to sell the 25-acre Showcase Cinema site for $1 to the joint venture of Jasko Zelman 1 LLC. Zelman said he hopes to achieve necessary modifications to prior town approvals in the next 60 to 90 days. East Hartford Mayor Michael Walsh has expressed tentative support but said town staff are still vetting proposed changes. Under the initial development agreement approved last year, East Hartford is to supply $10 million in grant funding to offset development costs, which are currently estimated in excess of $100 million.
https://www.hartfordbusiness.com/article/citing-economic-headwinds-developers-want-option-to-scale-back-477-apartment-development-in