December 20, 2024
EAST HARTFORD DELEGATION WELCOMES $10.5 MILLION IN STATE FUNDING FOR APARTMENT DEVELOPMENT, RENTSCHLER FIELD
Today, the East Hartford delegation of lawmakers including State Senator Saud Anwar, House Majority Leader Jason Rojas, State Representative Jeff Currey and State Representative Henry Genga welcomed $10.5 million in state funding to support the town.
The State Bond Commission today approved the release of $6.5 million in bond funds to support the development of 150 apartment units at Riverview Square in East Hartford. Those funds will be supplied to developer Simon Konover, or another entity agreed upon by the Capital Region Development Authority, in the form of a 10-year loan at 3% interest in the first three years and amortizing principal and interest on a 30-year basis starting in the fourth year.
“The promise that new housing offers to East Hartford and our surrounding communities is strong,” said Sen. Anwar. “These new resources would alleviate local housing pressures and aid our businesses and residents alike. Combined with the benefits offered by Rentschler Field’s regularly held events, I’m grateful to Governor Lamont and the State Bond Commission for moving forward projects valuable to all of East Hartford.”
“This is an exciting project in a ideal location adjacent to Downtown Hartford and major transportation options,” said Rep. Rojas. “This project will bring much needed housing choice to East Hartford and the area, launching a rebirth for our very accessible riverfront area where other major economic development plans are in the works. I am proud my efforts to secure critical bond authorizations to support development projects like this. I want to thank Governor Lamont and the Bond Commission for their support of this project and to the CRDA for their ongoing partnership with East Hartford to grow our local economy.”
“This is a win for the residents of East Hartford and the future of our local economy,” said Rep. Currey. “I would like to thank Governor Lamont and the State Bond Commission for approving the funds and for believing in the future of East Hartford.”
“The allocation of these funds will support the development of new housing in East Hartford, offering more living options in our community, said Rep. Genga. “Our local economy can also expect a boost from the planned upgrades at Rentschler Field. I am grateful to Governor Lamont and the State Bond Commission for seeing the value in investing in East Hartford.”
Plans to develop these units near the Connecticut River are planned for a 35-acre site with amenities for residents; it was initially planned to be an office building but will instead increase locally available housing.
Another $4 million in bond funding approved today will support upgrades and improvements to Pratt & Whitney Stadium at Rentschler Field in East Hartford, including new metal detectors and repairs to IT networks, sound and video systems and stadium restrooms. |
