East Hartford’s Town Council, meeting Tuesday night, unanimously agreed to sell the 25-acre former Showcase Cinemas site for $1 to developers planning to build at least 300 apartments. The council also unanimously signed off on a series of conditions that in some ways ease the expectations and burden of developers Brian Zelman and Avner Krohn – acting through Jasko Zelman 1 LLC. Jasko Zelman 1 and town officials had previously set terms in agreements last year that, included, among other things, a 27-year tax fixing agreement. In those agreements Jasko Zelman 1 agreed to build a minimum of 360 apartments. Krohn noted it is to the developers’ advantage to build as many units as possible, as there is tremendous pent-up demand in East Hartford alone. The town has not seen new apartments built in five decades, he said.
https://www.hartfordbusiness.com/article/east-hartford-agrees-to-sell-showcase-cinemas-site-for-1-in-return-for-300-apartment