Latest news with #Arulampalam
Yahoo
a day ago
- Business
- Yahoo
New wheels for CT city mobile library has focus on reaching underserved communities
When The Hartford Public Library launched its new Library on Wheels, it made clear the goal was reaching Hartford residents in their communities. But Bridget E. Quinn, the president and CEO of the Hartford Public Library said The Library on Wheels is much more too. It's a rolling hub of learning and community engagement and it's a learning vehicle that is expected to make weekly trips across the city with a special focus on underserved communities. 'We have had mobile service at Hartford library for a number of years, but we are so excited that today we get to show you (this),' Quinn said at the launch at Bushnell Park. 'It's the state-of-the-art mobile library that brings books, technology and services and our fabulous outreach staff to our Hartford community.' Quinn said the van is more than a mobile library but 'a symbol of accessibility, inclusivity and opportunity.' 'Mobile and outreach services allow us to reach people where they are, creating stronger connections and more opportunities for learning,' Quinn said. The Library on Wheels will visit local schools, community centers and public events and the Library on Wheels will be full of books and materials. The Library on Wheels offers library card registration, programming (in collaboration with hosts), library books (English and Spanish), free books, DVDs, CDs (no card required), information on library events and services and other library materials. 'We believe that access to knowledge and opportunity should never be limited by geography,' Quinn said. 'We are building a library system that is as mobile, flexible and inclusive as the community we serve.' Hartford Mayor Arunan Arulampalam said The Hartford Public Library is among the best in the country. 'The Hartford Public Library calls itself a place like no other and it's true,' Arulampalam said. 'It's been for over 250 years, and it continues to innovate. Libraries are no longer repositories for books; they are social hubs for our community. People come here for all sorts of needs in their life,' Arulampalam said. 'But in addition to our library being a community living room, the library has taken their books out of the four walls of the library and into the community…We are so excited to have this Library on Wheels.' Quinn thanked the support of the city of Hartford, Hartford Public Works, the Beatrice Fox Auerbach Foundation Fund, Action Glass (East Hartford) and Gengras Motor Cars. The Hartford Public Library was founded as the Library Company in 1774. The library has seven full-service locations, two Boundless Library locations, and multiple outreach services, including the Library on Wheels and Story Stash and a 24-7 pickup locker.
Yahoo
19-05-2025
- Business
- Yahoo
7 CT office-to-apartment conversions that made a difference. A big challenge looms on the horizon.
The recent launch of the conversion of two historic — but difficult to redevelop — office buildings in downtown was hailed by city and state leaders as making way for apartments that are very much in demand in a city where there is a glut of office space. In marking the $52 million conversion of former state office buildings on Hartford's Trinity Street into more than 100 residential rentals, Hartford Mayor Arunan Arulampalam struck an upbeat vision for the city in the coming years. 'Brick by brick, development by development, this city is becoming one larger city in which every neighborhood feels a part of where we are going and this is an incredible centerpiece for that,' Arulampalam said, at last week's event. 'We are so proud of where the city is going. I hope you are so proud of what you see today and what the future looks like.' Indeed, the conversion of older office buildings in and around downtown in the last decade have helped absorb obsolete office space. The projects, many of them supported with public financing, have added thousands of rentals to strike a better — but still emerging — balance with the historical dominance of the office towers. But a big worry looms on the horizon: what to do with space in modern office towers downtown that were battered by corporate downsizings in the aftermath of the pandemic? 'The challenge now is do we take on the 'A' buildings and/or some of the corporate campuses (Aetna)?' Michael W. Freimuth, executive director of the Capital Region Development Authority, said in an email. How the low occupancies in some of the city's most recognizable office towers are dealt with will have far-reaching consequences. For the downtown economic ecosystem, there are far fewer office workers to regularly help support shops, restaurants and bars. And declining office building values will mean a hit to property taxes collected by the city that pay for municipal services and running its school system. Class A space is considered the most prime, marquee space. In downtown Hartford, there are five major office towers — two on Constitution Plaza — either in foreclosure or receivership, some the casualty of lenders unwilling to refinance mortgages in a shaky office leasing market both in Hartford and nationally. Receivership means building owners have lost day-to-day control of their buildings because they haven't been able to make loan payments or refinance. CityPlace I — the tallest office building in Hartford — fell into receivership after its main tenant, UnitedHealthcare, slashed its leased space as more of its employees in the city worked from home after COVID-19. Of the roughly 885,000 square feet in the 38-story tower, just 45%, or about 400,000 square feet is occupied, according to CoStar, the commercial real estate analytics firm. A new analysis by Cushman & Wakefield of the 14 Class A, or prime, office buildings in Hartford's business district showed that overall availabilities were 35.5% as of Mar. 31. That up a full percentage point from 34.5% compared to a year earlier, the analysis by the commercial real estate services firm found. By the numbers, that's 2 million square feet available out of about 5.7 million. Nationally, the move to convert idle office space into residential rentals has gained considerable momentum in the past several years, according to a recent report from which tracks trends involving apartments. The report found that the number of apartments set to be converted from office space has skyrocketed from 23,100 in 2022 to a record-breaking 70,700 expected in 2025. CityPlace and other office towers in the downtown Hartford area may not be necessarily be suitable for apartment conversions. But older, smaller buildings may well be, with their tenants potentially moving into Class A space where lower, attractive rents could be negotiated and owners are hungry for tenants. For developers, rising construction costs — potentially affected by new tariffs — remain a concern when assessing the viability of projects and whether public funding needs to be increased. In the legislature, a half-dozen bills — some proposing tax credits — sought at the beginning of the session to encourage office-to-residential conversions. And Gov. Ned Lamont proposed $50 million in his capital budget to support such projects. In the last decade, Hartford got a jump on converting office space, well before anyone had heard of COVID-19. But the stakes still remain high because the city has more office space than New Haven, Waterbury and Bridgeport combined. Original use: Office tower Built: 1967 Conversion cost: $84.5 million, with public funding # of apartments: 285 Market-rate/Affordable: 80%/20% Developer: Bruce Becker, Westport Conversion completed: 2015 Current Occupancy: 98% Why it Matters: The 26-story office tower once stood out in the city's nighttime skyline, dark and empty — a highly visible reminder of the city's struggle with revitalization. The project was one of the earliest and largest office-to-apartment conversions in the last decade, and provided a crucial test for housing demand in downtown Hartford. Original use: Masonic Hall Built: 1894 Conversion cost: $4.5 million, with public funding # of apartments: 26 Market-rate/Affordable: 100% Market-rate Developer: Yisroel Rabinowitz, Brooklyn, NY Conversion completed: 2014 Current Occupancy: 86% Why it Matters: The former Masonic Hall had struggled to accommodate offices, but was successfully converted into The Grand on Ann apartments. The project, the first to be completed using low-cost financing through the Capital Region Development Authority, established housing on the eastern end of downtown's Allyn Street corridor. CRDA sought to strengthen the residential presence between the XL Center and Union Station. It is uncertain how that vision will unfold now that the federal government has all but chosen an Allyn Street parking lot for a new federal courthouse. Original use: Offices for wool merchants Built: 1883 Conversion cost: $14.9 million, with public financing # of apartments: 63 Market-rate/Affordable: 80%/20% Developer: Dakota Partners, Waltham, MA Conversion completed: 2015 Current Occupancy: 84% Why it Matters: The renovation revived the use of an office building considered an architectural gem, but was in decline with few tenants. The conversion to rental housing added more apartments around Union Station on the west end of Allyn Street. Leasing helped build a track record for downtown rental demand. Original use: office tower Built: 1965 Conversion cost: $28.4 million, with public funding # of apartments: 157 Market-rate/Affordable: 100% Market-rate Developers: Wonder Works Construction Corp. and Girona Ventures, both of New York Conversion completed: 2020 Current Occupancy: 97% Why it Matters: The 12-story office tower at the corner of Pearl and Lewis streets was once a bank headquarters and later, a police substation. Until converted to apartments in 2020, a string of attempts to redevelop the structure into office space, apartments and condominiums failed, leaving the building largely vacant and decaying for years. Original use: office building Built: 1950 Conversion cost: $21.5 million, with public funding # of apartments: 101 Market-rate/Affordable: 100% Market-rate Developers: Wonder Works Construction Corp. and Girona Ventures, both of New York Conversion completed: 2019 Current Occupancy: 96% Why it Matters: The 7-story building was vacant for more than a decade and like the neighboring 101 Pearl occupied a prominent corner in downtown, diagonally across from the XL Center arena, The two structures are now joined internally to create one apartment building. Original use: department store Built: 1928 Conversion cost: $30 million, with public funding # of apartments: 97 Market-rate/Affordable: 100% Market-rate Developer: Brooklyn, N.Y.-based Shelbourne Global Solutions LLC, of Brooklyn, N.Y.; and Lexington Partners and LAZ Investments, both of Hartford. Conversion completed: 2023 Current Occupancy: 100% Why it Matters: The L-shaped building that anchors the southern side of the corner of Pratt and Trumbull streets was long past its heyday. After the Steiger's Department Store closed in 1962, the upper floors became office space. The new apartments formed a cornerstone for the Pratt Street corridor which aspires to be both a place to live and a visitor destination. Original use: office building Built: 1981 Conversion cost: $20 million, with public funding Apartments: 60 Market-rate/Affordable: 70%/30% Developer: RBH Group, Newark, N.J Conversion completed: 2019 Current Occupancy: 98% Why it Matters: Teacher's Village Hartford converted office space facing Bushnell Park that had been vacant for two decades. The vision was to create a residential community for teachers and other educators who can collaborate and support each other in their professional endeavors. While an estimated 40% of the units are occupied by educators, below the initial leasing of 60-70%, the apartments remain nearly fully leased. SOURCES: Capital Region Development Authority; Courant reporting
Yahoo
13-05-2025
- Business
- Yahoo
New CT apartment project is helping boost redevelopment area that saw a big setback
To the rear of two historic, office buildings being converted to apartments across from the state Capitol, there was noise competing with applause at a nearby groundbreaking ceremony for the $52 million project. Demolition debris from the back of 18-20 Trinity St. in downtown Hartford was hitting a dumpster with a thud, a sound that showed that the redevelopment of the former state office building is already well underway. At the event, Hartford Mayor Arunan Arulampalam said redevelopment, which borders Bushnell Park and also includes the neighboring 30 Trinity St., is not just about the creation of 104 units — 20% of them affordable — and bringing back to life long vacant structures. 'It is about the large vision for where Hartford is going,' Arulampalam said. 'This is another key component in Bushnell South, which will stitch together our downtown, this beautiful park that is the centerpiece of our city — our Central Park — with the neighborhood.' Bushnell South is a major redevelopment area for the city and includes about 20 acres surrounding The Bushnell Center for the Performing Arts that are dominated by parking lots targeted for new development. The Trinity Street buildings are on the northwestern corner of Bushnell South. Bushnell South has seen some early progress with the conversion of the former state offices in the historic 55 Elm St. into apartments. But recently there was a major setback, with the preferred developer of the largest parking lot withdrawing from the project after two years. Developers Philadelphia-based Pennrose LLC and The Cloud Co., of Hartford, first spotted the two historic structures — built in the early years of the last century for insurance companies — nearly four years ago. The partners, already active in development elsewhere in city, decided they wanted to pursue an apartment conversion and saw potential in the wider Bushnell South vision. Charlie Adams, Pennrose's president, said Tuesday that the company's chief executive has a saying that 'every deal is a miracle. And the 10 years that I have been here, and if you had to rank deals that were a miracle, this would be at the top of the list.' Financing was complicated by a dozen different components, including a $6.5 million, low-cost, state-taxpayer-backed loan from the Capital Region Development Authority. In addition, there was a $6 million state grant from the Urban Act grant program, state and federal historic tax credits, plus private financing. The state's deadline for purchasing the properties had to be pushed back while components of the financing were made to fit together. 'It was a very challenging deal because this wasn't a deal that was in a box,' Adams said. 'It was outside of a lot of programs so it took a lot of courage and a lot of will for folks to do it.' The groundbreaking was marked by officials posing with hand-held sledge hammers with heads painted gold. Gov. Ned Lamont said the complex financing deals such as those for the Trinity Street buildings are getting even more complicated: 'We've got some headwinds. You've got interest rates that are bouncing around, you've got tariffs on timber coming in from Canada — it's getting tricky right now.' The first apartments in the Trinity Street buildings are expected to become available in March, 2027. The monthly rents for the market-rate units are now projected to range from $1,700 to $2,500. The unit mix includes 29 studios, 27 studios, plus den, 39 one-bedrooms, 4 one-bedrooms, plus den and 5 two-bedrooms. The apartments will be mixed-income, with 20% reserved as 'affordable' for tenants that restrict rents and limit income to less than 50% of the area median income. Parking will be nearby in the $16 million, state-financed Bushnell South Parking Garage. Lamont said the broad cross-section of housing projects in Hartford provides clear evidence that people want to live in the city. 'This is a good thing,' Lamont said. 'This city was 30 or 40% bigger a couple of generations ago. And it's coming back. This is how you get young people here, vibrancy here, housing projects just like this where young people can get a good start and come over and work for state government if you want to.' Kenneth R. Gosselin can be reached at kgosselin@
