Developer Amit Lakhotia was joined by New Britain Mayor Erin Stewart Tuesday for a ceremony marking the launch of a $17.5 million effort to transform a 52-year-old office building in New Britain’s downtown into 79 apartments with a restaurant. Lakhotia has pursued several conversions in New Britain over the past year, quickly making him a […]
Developer Amit Lakhotia was joined by New Britain Mayor Erin Stewart Tuesday for a ceremony marking the launch of a $17.5 million effort to transform a 52-year-old office building in New Britain’s downtown into 79 apartments with a restaurant.
Lakhotia has pursued several conversions in New Britain over the past year, quickly making him a key figure in efforts to revitalize the downtown area.
“We want to create a downtown vibe in New Britain with new people and new shops and restaurants,” Lakhotia told the Hartford Business Journal. “With all of that it will be a new downtown in a few years.”
Lakhotia plans to add two floors to the 48,475-square-foot brick building at 102 West Main St. He has already completed interior demolition and is working with engineers to finalize plans and permitting for strengthening the building foundation. He hopes to begin foundation work in February and be ready to rent new apartments about a year later.
Plans call for restaurant space on the first floor, augmented by a rooftop bar. Lakhotia plans to have a single operator for both. Twenty percent of the apartments will be affordable. The development will include a laundry, fitness center and basement parking.
Lakhotia is working with city officials on a tax abatement to make financing work. He has been allocated a $4 million CT Communities Challenge grant from the state Department of Economic and Community Development.
"This is the latest project aimed at transforming our downtown while preserving the history that makes New Britain so unique," Stewart said Tuesday. "I am grateful to developer Amit Lakhotia for sharing in our vision and helping to revive downtown New Britain into the bustling hub it once was."
