Hartford Business Journal

22 HARTFORDBUSINESS.COM | DECEMBER 11, 2023 FOCUS: 5 WE WATCHED Trinity Health CEO Carter focuses on worker recruitment, community access, new parking garage amid financial headwinds our workforce, because everything is foundational to that," Carter said. Carter said Trinity Health has launched a virtual nurse program, which delivers care to patients through a team approach that includes a direct-care registered nurse, an on-site nursing assistant or licensed practical nurse, and a registered nurse who appears virtually in a patient's room. Virtual nurses, who are stationed at By Andrew Larson alarson@hartfordbusiness.com M ontez Carter became pres- ident and CEO of Trinity Health Of New England — the third-largest hospital operator in Connecticut — at a precarious time, as the industry adapts to post-pan- demic life and contends with various headwinds, including inflation and workforce shortages. Carter moved from Georgia to the Nutmeg State to helm the Catholic healthcare system, which owns four Connecticut hospitals — St. Francis and Mount Sinai Rehabilitation in Hartford; St. Mary's in Waterbury; and Johnson Memorial in Stafford — and one in Massachusetts. His official start date was Oct. 3, 2022. After a little more than a year in the position, Carter said he's proud of the equity work the organization has accomplished. In April, Trinity Health partnered with national nonprofit RIP Medical to erase $32.76 million worth of liabilities for 22,300 patients. RIP Medical typically pays pennies on the dollar to purchase, and then forgive, medical debt. Carter said it helped lift a burden off patients who may have delayed or forgone medical care due to financial uncertainty. "It was more than worth it for what we were able to accomplish from a mission perspective," Carter said. "For us, it was absolutely the right thing to do. ... We don't want people not seeking the proper care that they need, because of their concern about their ability to pay." Re-imagining care To address the ongoing worker shortage, Trinity Health has ramped up employee engagement and retention efforts, along with recruit- ment — "so that we can stabilize ners, Martin Kenny headed into 2023 saying he felt rejuvenated and ready for big things. A full plate Kenny entered the year with hopes to begin redevelopment of the former Red Lion Hotel property in Cromwell. The plan was to demolish the decaying hotel and replace it with 254 apartments, 20 town- homes and 30,000 square feet of commercial space. The project was delayed as construction and borrowing costs jumped significantly. In October, Cromwell officials signed off on a 10-year tax abatement that will allow the two-year, $100 million project to launch in the second quarter of 2024, starting with demolition of the shut- tered hotel property, Reilly said. In September, Lexington began a $14 million conversion of a 130-year-old, granite-block court- house in the quaint center of Litchfield into a 20-room boutique hotel. Lexington and Lazowski are partnered in the project, while SALT hotels has a 10% equity stake and will manage the property upon completion. That project is expected to wrap by next August. Just before his death, Kenny unveiled plans for a $26.7 million transformation of the former LAZ Parking headquarters at 15 Lewis St., in Hartford, into 78 apartments and a restaurant space, potentially with rooftop dining overlooking Bushnell Park. The state Bond Commission, on Oct. 6, approved $7 million for the Capital Region Development Authority to provide a low-interest loan for the project. Lexington is working with an archi- tect to meet standards for historic tax credit assistance. Once those are secured, the rest of the funding stack will be assembled, Reilly said. Reilly said Lexington expects to start the estimated two-year project in the second quarter of 2024. Founders Plaza redevelopment Kenny and Lazowski this year were also recruited to be part of an ambitious $841 million redevel- opment of the roughly 50-year-old Founders Plaza office park along the Connecticut River in East Hartford. Reilly said the project is off to a good start, garnering pledges of support from local, state and federal officials. He expects demolition of two existing buildings on-site to begin in late January or early February. That will be funded by a $6.5 million state grant. Reilly said the development team is working with East Hartford officials to create a master development plan. With construction financing increas- ingly difficult to secure, the develop- ment team has decided to tackle the Founders Plaza project in manage- able chunks, Reilly said. Patrick Kenny (left) and Kevin Kenny, carry on their father's work as vice presidents at Lexington Partners. HBJ PHOTO | MICHAEL PUFFER They expect to begin with a light industrial building designed to suit an unidentified tenant and 375 apart- ments, Reilly said. If all goes well, that construction could begin in early 2025, Reilly said. Shoreline retail redevelopment In 2023, Kenny also began nego- tiating with the owners of a large shoreline retail property for a joint redevelopment that would create hundreds of apartments and new retail space. Reilly said discussions are ongoing with local officials, but the project is not advanced enough to share further details. He did say local officials have been enthusiastic about the vision. The project could start in early 2025, Reilly said. Kenny had begun lining up several additional projects, none of which are sufficiently advanced enough to discuss publicly, Reilly said. Reilly noted with wry humor that he keeps the funeral prayer card of his friend and boss in his car, and sometimes addresses Kenny through it, asking him how he managed to juggle so much. A rendering of the new 554-space parking garage that will debut at St. Francis Hospital in Hartford in 2024. RENDERING | WALKER CONSULTANTS

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