A key player in financing the housing boom, the Capital Region Development Authority, approved deals on more projects Tuesday that would create hundreds of new units, many in converted office space. The CRDA approved a $1.1 million low-interest loan to developer Simon Konover to convert office space on the building’s upper floors into 37 apartments, all of which would be rented at market rate. The gut renovation of the historic property is expected to cost a total of $7 million and add to the effort to create a residential and retail corridor in the heart of downtown on Pratt Street. The CRDA committee voted to allow developer Randy Salvatore to apply funds secured for a project stalled by a lawsuit against the city to be used for the campus redevelopment, which could result in 269 apartments in its first phase.
https://www.stamfordadvocate.com/business/article/hartford-apartments-housing-downtown-18375304.php