After years of delay and anticipation, the first phase of the mixed-use development near Dunkin’ Donuts Park in Hartford will debut in 2022.
Stamford-based developer RMS Cos. broke ground on the project’s first phase in October 2020, and has completed construction of the 330-space parking garage. RMS CEO and President Randy Salvatore said construction on the $50-million project’s first phase, which will yield 270 apartment units, should be completed by this spring.
Meantime, RMS is in early discussions about the development’s next phase, which will include construction of 550 additional apartments and a 541-car garage.
The state Bond Commission has approved a $13.6 million loan for the project’s second phase, which will be funneled through the Capital Region Development Authority (CRDA).
Somewhere not far downstream is more commercial space, featuring restaurants and entertainment venues.
By any measure, it’s a major undertaking and not one either Salvatore, the city or the Downtown North community could afford to see damaged by the impending financial collapse of the nearby Hilton Hotel on Trumbull Street.
So, armed with the promise of funding support, Salvatore has agreed to take over the top dozen floors of the 22-story hotel and convert them into an additional 147 new apartments. The Bond Commission recently approved an $11 million loan to help fund the conversion.