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March 22, 2021

State wants to sell vacant Capitol Ave. property for potential mixed-use development

Contributed 340 Capitol Ave., Hartford
By Greg Bordonaro
On The Market 340 Capitol Ave., Hartford
Type: Vacant lot
Size: 1.25 acres 
Sale type: State RFP
Current owner: State of CT
RFP contact: Shane P. Mallory, shane.mallory@ct.gov
More Information

The $35 million conversion of the former Hartford Office Supply Co. building at 390 Capitol Ave., into 112 apartments was a key win for the city of Hartford and Capital Region Development Authority (CRDA), which provided a $7 million loan for the project. 

Those apartments — developed by Massachusetts-based Dakota Partners LLC — debuted in 2017 and have seen recent occupancy above 90%, according to CRDA. Now the state is hoping to leverage the Capitol Lofts’ success into another potential nearby apartment development. 

The Department of Administrative Services recently issued a request for proposals for a buyer interested in purchasing state-owned property at 340 Capitol Ave.

The vacant 1.25 acre site, which sits in the shadow of the Capitol Lofts and State Armory, is currently being used as a parking lot, but could be developed into a mixed-use commercial and multifamily residential development, according to DRS’ RFP. 

The property is in an Opportunity Zone and in walking distance to the state Capitol, Legislative Office Building and The Bushnell. It’s on the outskirts of the central business district, but is only about a mile from the XL Center. 

The RFP is open through June 11.
 

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