You can’t tell it from outside, but inside 410 Asylum St., the transformation of the former downtown commercial building into 70 apartments is moving briskly.
Once home to one of Hartford’s largest banks, the upper floors of the six-story Hollander Foundation Center — named for the historic building’s donor — are beginning to look more like the kind of dwellings that might appeal to working folks eager to live downtown.
Nancy MacMillan, real estate director for Common Ground Community Inc., the building’s New York owner, said during a recent tour of “my baby,” with the HBJ Buzz in tow, that she has fielded several dozen calls from prospective residents. MacMillan declined to name the exclusive commercial and residential brokers she has retained to market the building.
Actually, MacMillan said, the current recession has boosted demand for the units, priced to be affordable for those with low- and middle-incomes. But she added that affordable apartments are necessary during any kind of economy.
When construction is complete in August, the Hollander will offer 56 one- and two-bedroom units earmarked for tenants who meet specific affordability guidelines. Monthly rent for the units will vary, according to income, from $765 to $995.
The other 14 units will be priced according to current market prices, averaging $1,400 a month. A few lucky tenants will get units with a spectacular view overlooking Bushnell Park and the golden dome of the state Capitol.
“This will be our flagship building in Connecticut,” MacMillan says, adding that Common Ground is searching for more properties to transform into affordable or supportive housing in the state. It also involved with transforming the old Hooker Hotel in Willimantic into supportive housing, where residents get counseling on jobs, education and mental health, among other services.
Meantime, crews for contractor LaRosa Building Group of Meriden have gutted 13,000 square feet of the Hollander’s street-level space that will house six retail suites with rents at $15 a square foot. Ideal tenants would include a local restaurant, retail boutiques, and an art gallery, MacMillan said.
While the first apartments won’t be occupied until August, the retail space reportedly will be available in February. All of the extra insulated windows have been installed, said MacMillan, who regularly commutes from Stratford to Hartford to monitor the Hollander’s progress. Steel framing for interior walls and hallways awaits sheet rock.
MacMillan is excited by the prospect that Hollander is the first residential building downtown designed to “silver” standards of the Leadership in Energy and Environmental Design, or LEED for short. LEED guidelines promote the design of energy efficient and less polluting structures.
For instance, the Hollander’s carpeting will be from recycled materials; flooring will consist of sustainable materials rather than vinyl, which is derived from petroleum; and a rooftop greenspace will reduce the need for manmade materials and aid the building’s cooling. — GREGORY SEAY
