Please do not leave this page until complete. This can take a few moments.
Hartford-based real estate investors Martin Kenny and Alan Lazowski are seeking public financing for a $26.7 million transformation of LAZ Parking’s former Hartford headquarters on Lewis Street into 78 apartments.
The five-story, 1925-vintage building at 15 Lewis St., near Bushnell Park, has been vacant since LAZ Parking moved to the Gold Building in 2020. The property is owned by Kenny, head of Hartford development firm Lexington Partners, and Lazowski, CEO and co-founder of LAZ Parking.
Initially, Kenny and Lazowski considered turning the roughly 43,000-square-foot building into a boutique hotel, but those plans never materialized.
Instead, Kenny said he and Lazowski plan to pursue conversion of the building’s top four floors into apartments, with the bottom floor renovated into restaurant and tenant amenity space. The project would result in 51 studios, 24 one-bedroom units and three two-bedroom apartments.
Kenny and Lazowski are seeking $7 million in assistance from the Capital Region Development Authority, including a $5 million low-interest loan. The remaining $2 million would be a CRDA equity stake in the project, Kenny said.
“We’ve been trying to make this work for a long time,” Kenny said. “The building has been empty for four years. With CRDA’s participation, I think the project works.”
Kenny said he is also trying to close on historic tax credits as part of the project financing.
Kenny and Lazowski are longtime friends and business partners who have been deeply involved in several apartment projects in Hartford and other Connecticut towns in recent years.
They recently joined a broader partnership attempting to build an estimated $841 million development at Founders Plaza in East Hartford, which would bring about 1,000 apartments and office and commercial space to the bank of the Connecticut River opposite downtown Hartford.
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments