Hartford finalizes land sale to Rincon 225 complex for $1
Land transfer to developer is final step in project process

By Joe VanDeLaarschot

May 19, 2019

An 82-unit apartment complex will be in downtown Hartford. The sale of the land at State and Main streets was finalized for $1.  
Submitted rendering

HARTFORD — It may seem like a small price, but the Common Council has approved one big, and final, step in the city’s portion of the process for development of a new 82-unit apartment complex, Rincon 225, adjacent to downtown.

Tuesday night, as part of an earlier approved developer’s agreement between the city and Grey Wolf Partners Inc. of Milwaukee, Hartford formally agreed to sell the property to the developer at a cost of just $1. The five-story building is being built at the corner of Main and State streets, on lots on properties at 23-25 W. State St., 3335 W. State St., 37 W. State St. and 212 N. Johnson St. on the north end of the downtown area.

“Since we ended up purchasing all of the properties, we completed a certified survey map of lot-1 for the developers and of lot-2 which the city will retain for an improved parking lot,” said City Planner Justin Drew. “It’s the proper time to turn the lot over to the developers.”

Drew said the developers are expected to close on the loan for the project next week.

“This should be the last step the council should have to make regarding the Rincon 225 project,” Drew said. “The Plan Commission earlier this week recommended approval of this.”

Demolition of the several buildings on the construction site was started in April and completed just a few weeks later. Since then a considerable amount of site work has been underway.

'Our friends at Consolidated Construction say they expect the building to be completed by May 1, 2020. I’m really proud of being part of this downtown community. I love the location and I think it’s going to add a lot to the local businesses,“ Grey Wolf Partners Residential Vice President Susan Ipsarides said earlier.

Ipsarides said she believes the apartment complex will be a new alternative for those who choose not to own homes in this community.

“I know some of our local businesses’ human resources departments are very excited to be able to offer some other housing alternatives to employees coming into the community,” Ipsarides said. “They’ve said they’re trying to draw in new, young talent to their businesses and one of the concerns in the past has been ‘where do we live’ that’s close to what’s going on.”

Two workmen on April 7 supervise as heavy machinery clears more of the buildings that were demolished to make room for the Rincon 225 apartment complex that will be built near the intersection of State and Main streets in Hartford’s downtown.  
File photo

Key to unlocking more downtown development

Grey Wolf owner Joe Wagner said he hopes the new apartment building will be a key to more development in Hartford’s downtown.

“There’s been a lot of people working on this project for quite some time, even before Grey Wolf got involved,” Wagner said. “We did our research and we think the downtown here is more than ready for this type of residential development. We think the industry is here and the workers are already here — it’s going to give them an option to live in downtown. I think it’s a wonderful idea.

“There’s amenities nearby so the residents can walk to the performing arts center or the museum or to a restaurant. Hartford checked all those boxes,” Wagner said.

<<EARLIER: Ground broken for downtown Hartford apartment complex