The Upper Albany neighborhood will welcome new residents, thanks to the completion of a $13 million renovation of the former Horace Bushnell apartments, the Hartford Business Journal reports.
The apartments, renamed as 4-40 Vine Street, now consists of 74 apartments in nine brick, three-story 1920’s buildings on the east side of Vine, between Albany Avenue and Mather Street. The buildings were acquired in 2012 by developer Sheldon Oak. Dilapadated and facing foreclosure at the time, four of the nine buildings were boarded and condemned while one was severely damaged from a fire in 2009.
The new apartments feature in-unit washer dryers, central air conditioning and landlord-paid heat and hot water. Klewin Construction was the general contractor while Hartford architect William W. Crosskey was designer. Mr. Crosskey is also part of CMSC’s Come Home to Downtown team.
In addition to a $13 million equity investment provided by a Red Stone Equity Partners-sponsored investment fund, Eversource also funded the project through purchase of state historic tax credits and state housing tax credits, administered by the Connecticut Housing Finance Authority. The state Department of Housing, and an allocation from the city’s Section 8 rental subsidies also were funding sources.