The Capital Region Development Authority Board of Directors approved $8.5 million in loans to three Hartford redevelopments Thursday, with the bulk of the money going to projects in the city’s Parkville neighborhood. Developer Carlos Mouta is at the head of two projects receiving $7.5 million in financing. The board approved a $4 million loan toward a $4.6 million expansion of Parkville Market, $500,000 of which will convert to a grant once construction is completed. The CRDA approved a second, $3.5 million loan – also at 3% interest – for Mouta’s planned $72.8 million conversion of the former Whitney Manufacturing site at 237 Hamilton St., into a mix of apartments and commercial space. Mouta described the CRDA funds as essential to launching the projects, especially given the financial blows and uncertainty caused by COVID-19.
https://www.hartfordbusiness.com/article/crda-grants-85-million-to-three-hartford-projects-including-parkville-redevelopments