The New Britain Common Council is set to vote tonight to authorize the $125,000 sale of a city-owned lot at 157 Main St., to a subsidiary of Jasko Development for plans to construct a 100-unit apartment building and two-floor restaurant to be known as “The Strand.”
The overall $20 million project will be paid via private financing by Jasko Development, which is owned by developer Avner Krohn. Krohn’s Jasko Development and subsidiaries have developed numerous properties in the Hardware City.
The project, officials said, is aimed at commemorating the Strand Theater, which was a landmark in downtown for nearly five decades before closing in 1972.
The 100 units, officials said, will include 57 studio apartments, 27 one-bedroom apartments, and 16 two-bedroom apartments. Rent, city officials said, is expected to range from about $1,450 a month to about $2,150 a month. The apartments, city officials said, would likely run from 500 to 1,000 square feet, with average ceiling heights of upwards of 10 feet.
If all goes as planned, city leaders say, construction crews should complete work on the planned six-story building by late 2024. Currently, the land is a parking lot adjacent to the city’s police headquarters.
In addition, Mayor Erin Stewart said the pending agreement with Jasko calls for the developer to enter into a parking agreement for 120 spaces in nearby Szczesny Garage to accommodate future residents of The Strand.
“Transforming downtown New Britain to the thriving hub it once was has been a focal point of my entire time in office,” said Stewart, who is in her fifth two-year term. “This project would be the latest piece of exciting development aimed at drawing new residents, visitors and businesses to the heart of our city.”
