A developer with a growing roster of apartment developments and renovations in a long-struggling corner of Hartford has proposed a $30.4 million project mixing 78 apartments and 12,000 square feet of commercial and office space on two city-owned properties. Now, Bronin is proposing to grant a 49-year lease – with options to renew – of 88 Magnolia St. and 614 Albany Ave., two blighted properties totaling nearly 1.2 acres to Andaleeb Enterprises LLC. The developer proposes a four-story building of apartments over commercial and office space. The city would also provide an unspecified amount of financial assistance for the project, according to a letter Bronin sent to the City Council. The Magnolia/Albany project would be the most ambitious yet for Andaleeb Enterprises, a vehicle of family investors that got its start in Hartford with an Albany Avenue convenience store. In the past three years, the Andaleeb family has – either independently or with investors – committed more than $6.3 million buying at least a dozen commercial and mixed-use apartment properties in Hartford – eight of them along Albany Avenue.
https://www.hartfordbusiness.com/article/growing-hartford-focused-developer-lines-up-78-unit-development-on-city-land