Stamford-based RMS Cos. has begun leasing its nearly completed 237-unit apartment building near Dunkin’ Park in downtown Hartford.
RMS Founder and CEO Randy Salvatore said about a quarter of the units in The Portrait, at 1143 Main St., are ready for occupancy. Construction crews are finishing the remaining apartments, with the project expected to be completed by the end of June.
Leasing began in mid-May, and about 15 units are occupied so far, Salvatore said.
Encouraged by early interest, RMS is preparing to move forward with the next phase of its North Crossing development, a planned 286-unit apartment building adjacent to The Portrait, Salvatore said. A parking garage designed to serve both buildings was completed as part of the first phase.
The city of Hartford has granted RMS development rights to several vacant parcels surrounding the minor league baseball stadium as part of a broader plan to add about 1,000 apartments to the area.
The Portrait is the latest downtown Hartford residential project completed by RMS. The company finished the 270-unit Pennant apartments in 2022 and partnered in the conversion of the former 22-story Hartford Hilton into a mixed-use property with 147 apartments above a 170-room DoubleTree hotel. That redevelopment was completed in 2024.
The Capital Region Development Authority has been a key financing partner. CRDA provided a $13.6 million low-interest loan for RMS’ $63 million development of The Portrait. It also provided a $5.9 million loan for the Hilton conversion and an $11.8 million loan for The Pennant.
Hartford Mayor Arunan Arulampalam said his administration remains a staunch backer of RMS’ endeavors, which are addressing an ongoing housing shortage, advancing economic revitalization and knitting together the city’s North End and its downtown, which have long been separated by wide stretches of empty lots and parking areas.
“It’s been really exciting for me to see that building come up on a former surface parking lot,” Arulampalam said. “It’s part of a vision of change we see rising up across downtown north. It’s not just about new housing to fill today’s needs, it’s about reconnecting north Hartford and our downtown, addressing a disconnect that dates back generations.”
Salvatore said he expects groundwork for the second, 286-unit phase at 1143 West Main St. to begin within the next two months. He said he expects CRDA to again participate in financing. He also remains confident in demand for downtown Hartford apartments.
RMS is offering one month of free rent at The Portrait, an incentive Salvatore said the company typically provides when opening new apartment communities.
According to Salvatore, The Pennant is 98% occupied, while interest in The Portrait has been strong.
“We are excited by what we are seeing, that’s why we are continuing to plow ahead,” Salvatore said.
