With financing in place, work can begin on the largest apartment construction project in downtown Hartford—converting the former Bank of America building, a 26-story tower, to apartments.
The work will begin this month, and will carry a price tag of $85m.
The tower, which sits across from the Old State House, has been vacant for three years and has proven to be a brooding presence on the city's skyline. Now, the building is poised to come back to life, with 285 rental units planned. Work will start on the top floors, with the first units expected to be finished by late 2014. The entire building is slated for completion by summer, 2015.
The building's housing units will be divided between 20% priced at affordable rates to attract low to moderate-income dwellers, with the other 80% going at market value. Those rents are expected to be in the $900 to $1,900 range, plus parking. Most of the units are studios and one-bedroom apartments.
Plans call for apartments to be sited on 22 floors, with others reserved for amenities. The top floor will be transformed into a common area for tenants, and a library and gym will be situated on other floors.
The developer could work with a postcard printing company to develop a card for Mailing to realtors, telling them about the new housing.Get a Free Quote for Mailing
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