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June 7, 2021

The Hartford donates $1M to Asylum Hill homeownership, revitalization campaign

Gregory Seay Modern elements, like The Hartford's headquarters tower, blend with the century-old character of Hartford's Asylum Hill community.
By Zachary Vasile

The Hartford has pledged $1 million to aid affordable housing and revitalization efforts in the Capital City’s Asylum Hill neighborhood, where the property and casualty insurer has its headquarters.

The contribution, first announced Friday, will go to an initiative led by Northside Institutions Neighborhood Alliance, a nonprofit community development corporation that rehabilitates blighted historic houses and constructs new ones that both fit the historic character of Asylum Hill and provide affordable homeownership prospects for low- and moderate-income families.

Combined with funding from the Capital Region Development Authority and state historic home rehabilitation tax credits, the donation is expected to enable the renovation of around 24 homes, according to company officials.

“We are steadfast in our commitment to addressing the critical needs of our neighbors by advancing equal economic, educational and workplace opportunities,” said Christopher Swift, The Hartford’s chairman and CEO. “The success of this particular partnership will be three-fold — to restore the historic beauty of the neighborhood, reduce blight and expand homeownership in Asylum Hill.”

The Northside Institutions Neighborhood Alliance said the homeownership opportunities created by the donation will comprise a mix of single-family residences and multi-family homes.

Officials with The Hartford said the company’s latest grant is separate from the $10 million the insurer pledged to Asylum Hill last fall in recognition of The Hartford’s 100th year in the neighborhood. That funding, intended to be disbursed over the next five years, will go to support areas of need identified in a 2020 survey of local residents and non-profits, including housing stability, job readiness and safety.

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