CRDA closed on 201 Ann Uccello on October 29, 2013. It is the first housing project under its aggressive initiative to add 2000 more units to downtown Hartford's housing inventory.
The Class 8 commercial building, managed by Ann Street Property, LLC and controlled by private developer Yisroel Rabinowitz, has been converted into 26 one-bedroom market rate apartment units. The street level will continue to be for commercial use. The Tavern Downtown is the current commercial tenant of the property. Thanks to the City's new expedited permitting system, the project progressed quickly.
The $5.3 million project is supported by a CRDA construction note of $3.8 million, which will be reduced with permanent financing of $3.1 million to a second note of $750,000 upon completion. The first tenants moved in December, 2014. This project is the first of several collaborative ventures between CRDA, the City and private developers which include 179 Allyn Street with 63 units and Five Constitution Plaza (the former Sonesta hotel) into 193 units.