CRDA’s Freimuth: UConn dorm project would be transformative to downtown Hartford

The University of Connecticut’s effort to create a dormitory for its downtown Hartford branch campus would include nearly $28 million in financial support from the Capital Region Development Authority and a private lender. According to CRDA Executive Director Michael Freimuth, the plan would create a student dormitory at 64 Pratt St. The six-floor building is an annex to 242 Trumbull St., which was acquired last year by Shelbourne Global Solutions. Shelbourne, based in Brooklyn, New York, is the central business district’s largest office landlord. Shelbourne has partnered with Hartford-based real estate developer and investor Lexington Partners and Hartford-based LAZ Parking to develop the project. The development deal would total $27.9 million, Freimuth said, including a first loan of $10.06 million; $10 million in interim financing provided by the CRDA; $3 million in equity; and approximately $4.9 million in city and state grants.

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