Spinnaker Real Estate Partners of South Norwalk plans to develop parking lots that surround the former state offices in downtown Hartford into two apartment buildings, adding another 239 apartments and storefront retail space just south of Bushnell Park. The conversion of 55 Elm St. and an annex — now in its final stages — is adding 160 rentals, contributing to a boom of apartment construction long-envisioned for around the park. Spinnaker is seeking a total of $16 million in state taxpayer-backed, low-cost loans from the Capital Region Development Authority. Of the total, $6.5 million would come from a repayment to CRDA from financing on 55 Elm, recently renamed “The 55 Elm Club.” The projects still must clear approvals from CRDA and the city. Construction could get underway in the second half of 2025.
Developer completing one large CT apartment project ready to move on to next even bigger phase