Issue link: https://nebusinessmedia.uberflip.com/i/1033445
www.HartfordBusiness.com • October 1, 2018 • Hartford Business Journal 15 New England Properties. Multifamily housing appeals more to career-focused Millennials, LePore said, who perhaps cannot yet afford a home or do not want to be tethered to one. West Hartford, in particular, benefits from its proximity to downtown Hart- ford, a major employment center, and UConn Health's campus in Farmington, where a number of bioscience-related companies and enterprises, like The Jackson Laboratory, have set up shop. The suburban community also is prized for its high-quality and diverse schools, dining, shopping and recre- ation-leisure options, he said. Yet, not all in-town, multifamily development is welcome. Town resi- dents recently spurned a proposal for 26 apartments on New Britain Avenue and Berkshire Road, in the shadow of Westfarms mall. Neighbors com- plained about the potential for more traffic and noise, insisting the devel- opment did not fit the character of a neighborhood of mostly single-family dwellings. First-time developers Brothers Jason and Tommy Li, West Hartford residents whose family owns New Asia Chinese Restaurant in town, are partners in their first commercial residential development — eight rental luxury townhomes in two buildings at the junction of Talcott Road and South Quaker Lane. The Lis, both Conard High graduates, say they were motivated to contribute something meaningful and lasting in their adopted hometown. "We know it's a very strong market in West Hartford,'' said Tommy Li, a UConn finance/real estate graduate. Their $1.8 million Talcott Corner development, when finished by next spring, will offer starting at $2,400 a month the 1,800-square-foot, tri-level units, with three bedrooms and baths, one-car garages, high-end finishes/ amenities, and 24-hour surveillance of the 0.7-acre grounds. As part of Talcott's "custom rental'' feature, initial tenants can choose — for an extra fee — from a palette of indoor wall colors and floor finishes. Across town, Arlington Place condos are rising at the corner of Arlington Road and Farmington Avenue, replac- ing a former residence cum physi- cian's office. LePore, listing broker for the prop- erty, says units will be priced from the $400,000s to the $700,000s, with the first ones due for occupancy next spring. At Steele Road, work is underway on the last 30 units at the development that overcame the town's and neigh- bors' initial concerns about housing density and more traffic to win ap- proval last February to expand. Metro Realty officials told the town at the time that The Residences' typical tenant averages 32 years of age and has a median income of $118,000. EMERALD HB Nitkin PLATINUM American Eagle Financial Credit Union Hartford Steam Boiler/Munich Re Sullivan & LeShane GOLD Bank of America PricewaterhouseCoopers Travelers Whiting-Turner SILVER Aetna Day Pitney MetroHartford Alliance People's United Bank Robinson+Cole BRONZE BSC Group Clohessy Harris & Kaiser Close, Jensen & Miller DiBlasi Associates First American Title Fuss & O'Neill Gilbane Goodwin College Haley & Aldrich Hartford Hilton/Hartford Marriott Jeffrey & Nancy Hoffman/Hoffman Auto Group Jacobs Financial JCJ Architects JKRP Architects Kaman Corporation CS Margison Mullaney, Keating & Wright Red Thread Shipman & Goodwin St. Francis Hospital & Medical Center Wex Health LE Whitford IN-KIND FOOD & BEVERAGE Augie & Ray's Carmine's Coca-Cola Bottling Co. Front Street Bistro Granny's Pie Factory Hartford Flavor Thomas Hooker Brewing Maneeley's Olde Burnside Brewing Riverhouse Catering MEDIA Hartford Business Journal WFSB Eyewitness News WTIC-AM 1080/Entercom IN-KIND SUPPORT All Waste Inc. American Eagle Financial Credit Union Cabela's Demers Exposition Services Hartford Yard Goats Heritage Printing Spotlight Theatres Ted's Montana Grill UConn Athletics MANAGEMENT PARTNERS City of Hartford Town of East Hartford MDC EVENT PRODUCTION Ferris Events THE BIG MO' WAS A BIG SUCCESS! Many thanks to all those who helped welcome American Eagle Financial Credit Union to its new headquarters and supported The Big Mo' 2018 by purchasing an ad in the program book, by donating goods and services, and by volunteering time and skills. Their effort made for one unforgettable evening celebrating the mo'mentum in greater Hartford and along the Riverfront. RIVERFRONT.ORG HBJ_Half.indd 2 9/24/18 11:10 AM (Left) The eight-unit Arlington Place condominiums near West Hartford Center. (Right) The town's recently completed 616 New Park Ave. residential-commercial building. HBJ PHOTO | GREGORY SEAY PHOTO | CONTRIBUTED