The fourth and final phase of Hartford’s Front Street District is now complete with the recent opening of a new $23 million apartment complex.
Residents of the 53-unit, 81 Arch St. apartments overlooking UConn’s Hartford campus began moving in Aug. 1, said Peter Christian, director of development and acquisitions for Greenwich-based HB Nitkin Group, the project’s developer.
Christian said 60 percent of the units have been leased and 40 percent are currently occupied.
The complex includes a mix of studio, one-bedroom and two-bedroom apartments, and has 11,000 square feet of street-level retail and commercial space. No retail tenants have been signed there, Christian said Thursday.
Monthly rents range from $1,225 to $1,990, plus parking, according to the quasi-public Capital Region Development Authority (CRDA), which provided $5.6 million, or $103,700 per unit, in funding for the project.
The development was also backed by a $1 million state grant for environmental cleanup and other work at the site.
The project represents HB Nitkin Group’s second major apartment development downtown. It also built the nearby Front Street Lofts, which debuted in 2015 with 121 studio, one- and two-bedroom apartment units.
The Lofts have consistently had an occupancy rate of over 90 percent, according to CRDA.
The Front Street District, which is part of the larger Adriaen’s Landing revitalization project, has been in the planning and development phases for more than two decades. After years of delays, its final completion represents a major milestone for downtown Hartford.
Front Street includes a number of restaurants and entertainment venues including Spotlight Theaters, Front Street Bistro, Bear’s Smokehouse Barbecue, Ted’s Montana Grill, Capital Grill and Infinity Hall.
