🔒Freimuth hailed for reshaping Hartford as longtime CRDA chief prepares to retire

Over nearly two decades, CG Management Co. principal Larry Dooley, working in partnership with Chevron, has overseen the transformation of Hartford’s 600,000-square-foot former Colt Armory complex into a mixed-use development featuring 255 apartments and commercial space. Dooley, on Friday, credited much of that success to Michael Freimuth, the retiring executive director of the Capital Region Development Authority. Between 2017 and 2022, the quasi-public, state-funded agency provided $5.88 million in three low-interest loans, along with tax incentives. This leveraged $21.42 million in additional funding, enabling the creation of 121 apartments. Dooley said Freimuth’s grasp of complex dealmaking was critical to the project’s success. “One thing about Mike is he can get things done that nobody else can get done,” Dooley said. “So, every time we presented him with a potential deal for conversion with the CRDA funds, he always found a way.” Dooley was among dozens of Hartford-area business leaders, public officials and community members who gathered Friday at the Connecticut Convention Center for a farewell reception honoring Freimuth, who is set to retire at the end of the month. Freimuth, 69, has led the CRDA since its establishment in 2012. During his tenure, aid from the agency has helped spur the creation of more than 3,300 downtown Hartford apartments, along with additional housing across the broader capital region. Over the years, CRDA’s successes have been rewarded with additional responsibilities, including oversight of Pratt & Whitney Stadium at Rentschler Field in East Hartford, the PeoplesBank Arena, and the Connecticut Convention Center. Under Freimuth’s leadership, the authority secured a $145 million renovation of the PeoplesBank Arena and launched a $60 million renovation of the East Hartford stadium, both of which are ongoing. “There is likely nobody, no mayor, no governor in that time who’s had as much of an impact on what development looks like in the city as Mike Freimuth has,” Hartford Mayor Arunan Arulampalam said in a video address to attendees at Friday’s event. “And through incredible deals that have been incredibly difficult — and as Mike likes to say have killed many of his brain cells — he’s just gotten it done. With gumption, with creativity, with just sheer willingness to get things done.” Andy Bessette, executive vice president and chief administrative officer at Travelers, recalled serving on the selection committee that chose Freimuth. “I was so happy we selected you,” Bessette said. “Truth be told, it wasn’t that hard a process once I met you and saw your resume. In all the good you’ve done for CRDA over the last – gosh, it’s been like 13, 14 years – has been terrific, world-class. You have been a consummate leader, great friend.” A proclamation from Gov. Ned Lamont honoring Freimuth was read aloud at the event, accompanied by a note from the governor that read, “Don’t go far.” In brief remarks, Freimuth credited CRDA’s accomplishments to the work of its staff, thanking them for their dedication. He also expressed gratitude to his wife, Maureen, and his children for their patience during his long hours and frequent absences. He said he expects David Stueber, a former state economic development official who assumed leadership of the CRDA on Oct. 31, to take the agency to “the next level.” Freimuth has remained with CRDA to assist with the transition. Reflecting on the challenges inherent in many CRDA projects, he recalled a past comment from a CRDA board member. “As I was told by one board member: ‘Mike, you understand that this doesn’t pencil,’” Freimuth said. “To which I responded: ‘That’s why we exist. It doesn’t pencil.’ Nothing ever does.”