Hartford officials are seeking a long-term tax abatement agreement to support a proposed 125-unit affordable housing development on land that formerly served the Apple Xtreme Cinema in the city’s Parkville neighborhood. The City Council on Monday referred the proposal to its Planning, Economic Development and Housing Committee after Mayor Arunan Arulampalam introduced the measure. The committee is expected to review the proposal later this month or in early August before sending it back to the full council for a final vote. Specific financial terms of the deal were not immediately available, but the proposal would authorize the city to enter into a 15-year tax-fixing agreement, with two optional five-year renewals, for a $18.75 million development at 332 and 344 New Park Ave. The project, known as Edge 400, would include two mixed-use buildings with 125 affordable apartments, resident amenity space and ground-floor retail. A 65,311-square-foot building at 332 New Park Ave. will contain 61 apartments affordable to households earning between 50% and 80% of the area median income, while the 70,678-square-foot building at 344 New Park Ave. will include 64 apartments affordable to households earning between 30% and 80% of AMI.
Hartford seeks tax break for 125-unit affordable housing project near cinema site
