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HARTFORD ENTERS INTO DEVELOPMENT AGREEMENT WITH DOWNTOWN NORTH DEVELOPER

HARTFORD ENTERS INTO DEVELOPMENT AGREEMENT WITH DOWNTOWN NORTH DEVELOPER

HARTFORD, CONN (March 4, 2020)– Today the City of Hartford announced that it has formally entered into a development agreement with RMS Companies for the development of City-owned parcels around Dunkin’ Donuts Park. The first phase of the development, Parcel C, which borders Trumbull Street and Main Street, is expected to begin this Spring. This phase will include more than 200 residential units, 11,000 square feet of retail and flex space, and a structured parking garage with approximately 250 parking spaces. The estimated cost for this phase is $50 million. 

“Four years ago, we inherited an off-the-rails stadium construction project, and many people doubted whether the broader development project would ever move forward. We stood our ground and fought hard to clear a path, and thanks to the hard work of our team and the patience and commitment of our new partner, we will soon see the first phase of construction begin on one of the most significant development projects in decades,” said Mayor Luke Bronin. “This project will be built in phases over the next few years, but when it’s complete it will help to knit our neighborhoods back together and bring tremendous new energy and vitality to what was once a barren stretch of asphalt. I want to thank the City Council for their partnership, and want to recognize Howard Rifkin, our Corporation Counsel, for his outstanding work.  We are looking forward to continuing to work hand in hand with Randy Salvatore and RMS Companies as this project moves forward.”

“I’m grateful to the City of Hartford and the Hartford City Council for their support of this mixed-use development and for this opportunity to reinvigorate the Downtown North neighborhood into a walkable and inviting place for residents, workers and visitors,” said Randy Salvatore, CEO of RMS Companies. “I look forward to working with the community in the years to come to help make our shared vision into a reality.”

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