Hartford's Main Street Building to be Largest Apartment Complex in Downtown
777 Main Street is being redeveloped into the largest downtown Hartford, CT apartment complex and one of the greenest and most innovative HUD 221(d)(4) financed projects in the Northeast. "The glass-covered office building, listed on the National Register of Historic Places, was designed by Welton Becket, a mid-20th century Los Angeles architect whose portfolio also includes the Los Angeles Performing Arts Center, Capital Records building in Hollywood and the Beverly Hilton Hotel."
The planned 285-unit high-rise will contain a mix of market and affordable apartments, including 20% of units affordable to households at 50% of Area Median Income (AMI). The 26th floor is designed for a multi-function common use including a club room, large flat screen TV, billiards table, conference table and 24-hour fitness center. The building will include a 250-car parking garage and six ground floor retail shops.
The complex will be powered and heated by a 400kw fuel cell providing grid-independent operations. The fuel cell installed will increase efficiency in heating/cooling, hot water and electricity usage. This is one of the first FHA-insured projects in the nation to be underwritten with renewable energy credits, specifically, a 15-year Low-Emission Renewal Energy Credit contract for fuel cell electric output, as well as one of the first Net Zero Energy multifamily housing financed by HUD.
It is also the largest project financed by the Capital Region Development Authority (CRDA), a new agency established by Governor Malloy to revitalize downtown Hartford. In addition to financing from CRDA and the Connecticut Department of Housing, the project’s financing includes state and federal historic tax credits and a $37 million FHA-insured 40-year first mortgage.
Completion is targeted for July 2015.
|Content Archived: January 7, 2016|