Office Conversion Creates New Apartments in Hartford

The firm’s Real Estate and Business Finance attorneys represented the Capital Region Development Authority, the State Department of Housing and the State Department of Economic & Community Development in closing various loan financing facilities in the total amount of more than $8.7 million for the conversion of the 379 Asylum Avenue office building in Hartford to 60 residential apartment units. The project, known as “Teachers Corner,” was pre-marketed to local teachers and features studios as well as one- and two-bedroom apartments. It offers housing to education professionals and other individuals who wish to work and reside in a central urban location. Once completed, 30 percent of the units will be affordable, while the rest will be rented at market rates.