A
partment rentals in Hartford have been booming, with rents
rising and occupancy rates peaking. However, new apartments
are coming online to soak up the continued demand.
Just as important as prices are the amenities that encour-
age people to socialize aer months of social distancing and
lockdowns, said several experts in the Hartford apartment sector.
The amenities might include cappuccino bars, eateries, fitness centers
and indoor and outdoor spaces to work, socialize or relax, said Randy
Salvatore, managing member of RMS Companies. Its Hartford projects
include the massive Downtown North development, which is now known
as North Crossing, near Dunkin' Donuts Park.
Added Marty Kenny, owner of Lexington Partners: "Socialization is so
important in these communities. People want to meet other people."
Increasing Demand
Hartford and other smaller cities nationwide have benefited from a flight
from bigger cities. People have been looking for communities that can
beer accommodate working from home and that offer more affordable
prices, the experts said.
Someone living in New York or Boston will pay much less and get more
space in Hartford, said Salvatore, who estimates that occupancy rates are
95 percent in the city.
Spreading out
BY THOMAS A. BARSTOW
AS DEMANDS CHANGE
AMONG RENTERS, HARTFORD
APARTMENT BUILDERS ADJUST
AN ARTIST'S RENDERING shows an
RMS Companies development called
North Crossing, which is being built in
phases. The first phase, at 1212 Main St.,
is expected to be completed in early 2022.
SUBMITTED
14
HBJ HARTFORD
LIVE
WORK
PLAY
