When city and state leaders gather to celebrate the launch of a large-scale development in Hartford, it’s a good bet that Michael Freimuth is somewhere in the crowd — and that he played a big part in making it possible.
Freimuth has headed the Capital Region Development Authority over the past decade, ably guiding it into the most impactful development engine in Hartford. The agency has also played a key role in East Hartford’s recent redevelopment efforts.
In Hartford, the CRDA has provided low-interest gap financing — and accompanying property tax breaks — that have led to the construction of roughly 3,000 new apartments in recent years. There are about 2,500 additional units in the development pipeline.
CRDA also oversees some of Greater Hartford’s most important venues, including the XL Center arena, Connecticut Convention Center and Pratt & Whitney Stadium at Rentschler Field.
Freimuth and his staff are potentially close to securing a long-sought, $100 million renovation of the XL Center. The agency has managed to arrange financing from state lawmakers and venue management company Oak View Group.
Freimuth and his staff are also deep into efforts to secure private redevelopment of roughly 20 acres south of Bushnell Park. This land is largely occupied by surface parking lots.
The master plan guiding the development calls for a neighborhood mixing about 1,200 households with parks, commercial space and parking structures.