Hartford Business Journal

4 Hartford Business Journal • June 17, 2019 • www.HartfordBusiness.com Week in Review Briefs CT regulator nixes St. Francis-Manchester cardiac collab The state Office of Health Strategy has rejected Manchester Memorial Hospital's hopes of adding several major cardiac services. The 238-bed hospital wanted to open an on-site cardiac lab in partnership with St. Francis Hospital and Medical Center, to provide angioplasty and diagnostic catheterizations However, OHS ruled that the proposal wouldn't improve care quality or accessibility, which are two key factors it assesses in its regulatory process. The new services, including elective angioplasty, which is rare at community hospitals, had been projected to bring in more than $8 million a year in annual patient revenue. Eastern Connecticut Health Network, parent of Manchester Memorial Hospital, plans to appeal the decision. Hartford's ex-culinary arts bldg. for sale A Massachusetts landlord's plan to remake a commercial building in Hartford's Asylum Hill neighborhood into an education hub has been scrapped and the property is in the hands of a major Connecticut bank. Principal Adam Winstanley, whose family run Winstanley Enterprises, of Concord, Mass., has extensive commercial holdings in Greater Hartford, confirmed via email that People's United Bank of Bridgeport now holds title to the property at 85 Sigourney St., opposite Aetna Inc.'s headquarters campus. Winstanley spent more than a year searching for a suitable anchor office tenant for the property and at one point considered a Chinese school, but the deal fizzled. Built in 1984, the eight-story, 367,406-square-foot building on 5.86 acres over the years housed offices and a gymnasium for Aetna employees. Later, the Lincoln Culinary Institute occupied the building after relocating from Farmington. Hilton Hartford seeking city's help for multimillion- dollar renovation One of downtown Hartford's largest hotels is asking the city to help it secure a multimillion-dollar federal loan for room renovations. The city council approved a resolution authorizing Mayor Luke Bronin to amend the Hilton Hartford's existing ground lease at 315 Trumbull St. so the city could seek a $4.7 million loan from the U.S. Department of Housing and Urban Development (HUD) on behalf of hotel owners, The Waterford Group. The Waterford Group, which also owns Hartford Marriott Downtown, says a renegotiated ground lease and subsequent federal loan would be used to upgrade its 393 guest rooms and suites, city records show. The renovations, it says, are required by the Hilton brand and its licensing agreement. Bristol Hospital opens $26M ambulatory center Bristol Hospital debuted June 10 its new 60,000-square-foot ambulatory care center at the corner of Main Street and Riverside Avenue. The $26 million downtown facility is occupied by the hospital's multi-specialty group to provide services in cardiology, endocrinology, neurology, orthopedics, rheumatology and urology. The Bristol Health Medical Group broke ground on the development more than a year ago with co-owner and national developer, Rendina Healthcare Real Estate, which will operate the facility. Under the radar, UTC moved Carrier HQs out of CT United Technologies Corp.'s announcement that it will relocate its headquarters to Greater Boston following its merger with Raytheon isn't the only recent move by the Farmington conglomerate to shift a Connecticut-based corporate office. In April 2018, the company officially moved the corporate headquarters of its formerly Farmington-based Carrier building systems business to a newly minted $115 million office tower in Palm Beach Gardens, Fla. Over the last year, it hasn't been entirely clear where Carrier, a maker of HVAC, refrigeration, fire, security and building automation equipment, had its corporate headquarters. But a UTC spokeswoman confirmed to the Hartford Business Journal that Carrier's home address is now 13995 Pasteur Blvd., near Interstate 95 in Palm Beach. UTC previously said Carrier's new 224,000-square-foot, glass-enclosed center would employ 450 people. That leaves only two UTC companies left in Connecticut: East Hartford jet-engine maker Pratt & Whitney and Farmington's Otis Elevators. TOP STORY Downtown Hartford among Chase Bank's expansion targets J PMorgan Chase Bank said it will open its first Hartford branch in downtown's CityPlace II skyscraper in September. Construction crews are renovating the downtown space, formerly occupied by Bank of America, at 185 Asylum St., which flanks both Trumbull and Pearl streets. It will employ more than 50 workers over the coming years, according to Chase Market Director Mark Telesmanick. Telesmanick said Hartford is an important market that Chase has been eyeing for several years. The bank is also opening an Avon branch at 201 West Main St., shortly after its new Hartford branch debuts. Chase Bank also already received federal approval to operate new branches in South Windsor, Cheshire and Ridgefield. It currently has locations in New Haven and Waterbury. The Manhattan-based investment bank is currently undergoing a national push to open up to 90 new branches and hire 700 employees by year-end 2019. BY THE NUMBERS 100 The number of workers retail giant Target is hiring for its new-format store in West Hartford's Bishops Corner, scheduled to open in late summer. $1.4B The proposed budget for the University of Connecticut and its satellite campus- es for the upcoming 2020 fiscal year. $46M The pricetag of the first phase of Hartford's pending Downtown North development, which was recently ap- proved by the city council and calls for a 200,000-square-foot mixed-use building with 200 residential units on Main Street. 83,500 The square footage of Massachusetts electron-beam welding vendor EBTEC Corp.'s new manufacturing facility in East Windsor, at 68 Prospect Hill Road. TOP 5 MOST READ On HartfordBusiness.com • 1. Under the radar, UTC moved Carrier HQs out of CT • 2. Hartford's Westbrook Village redo underway • 3. Hartford council OKs DoNo's $46M first phase development despite hurdles • 4. Hartford's ex-culinary arts bldg. for sale • 5. Conning: CT's credit quality worsens to bottom five nationally STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe Construction is underway on Chase Bank's new downtown Hartford branch. HBJ PHOTO | JOE COOPER

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