Hartford Business Journal

6 HARTFORDBUSINESS.COM | SEPTEMBER 16, 2024 DEAL WATCH Robinson+Cole's new downtown Hartford office was designed by Washington, D.C.-based Studio Alliance. Hartford metro area to lead CT, nation in new apartment construction over next 5 years Robinson+Cole's new Hartford office space promotes equity, collaboration Robinson+Cole Managing Partner Rhonda Tobin outside her office in the Hartford Steam Boiler building in downtown Hartford. HBJ PHOTOS | MICHAEL PUFFER By Andrew Larson alarson@hartfordbusiness.com T he Hartford metro area is on track to add 6,642 apartment units between 2024 and 2028, up from 3,979 between 2019 and 2023 — an increase of 66%, according to a report from RentCafe. That ranks Hartford 20th in the nation among 369 U.S. metros that are projected to experience the largest increases in apartment construction over the next five years. Meantime, the Bridgeport region is expected to increase its number of apartment units by 14% over the next five years, and New Haven by 47%. The U.S. is experiencing a surge in apartment construction with over 500,000 new units on track to open by the end of this year, according to RentCafe. Although Connecticut is expected to speed up its apartment construction over the next five years, its growth in 2024 was slower than in other areas. The Nutmeg State will add about 3,173 units in 2024 — about half Firm of the future Robinson+Cole's hunt for a new loca- tion began in 2021, as its former lease began to run out and the COVID-19 pandemic prompted wide shifts in office use. The firm opted for a "flight to quality," meaning offices with sleeker decor and access to more amenities in a smaller setting that places a greater premium on collaborative spaces. "The goal was really to build the law firm for the future," Tobin said. "We were building a different kind of firm in terms of how we use the offices and collaborate with each other. It wasn't about reducing our space." Robinson+Cole's search focused on Hartford, where the firm has deep roots. Over nearly two centuries, its leadership has served in top civic LARGEST PROJECTED INCREASE IN NEW APARTMENT DEVELOPMENT (2024-2028) APARTMENTS ESTIMATED APARTMENTS COMPLETED RANK METRO AREA 2024-2028 2019-2023 DIFFERENCE 1 New York, NY 150,327 116,207 34,120 2 Phoenix, AZ 60,833 49,600 11,233 3 Raleigh, NC 34,679 23,505 11,174 4 Charlotte, NC 54,647 44,804 9,843 5 Nashville, TN 44,556 36,454 8,102 6 Austin, TX 80,046 72,011 8,035 7 Youngstown, OH 6,449 191 6,258 8 San Antonio, TX 35,576 29,689 5,887 9 Colorado Springs, CO 13,147 7,902 5,245 10 Huntsville, AL 13,879 9,238 4,641 20 Hartford, CT 6,642 3,979 2,663 Source: RentCafe of Maryland's total, according to RentCafe. Most of the new units (1,155) added this year are in the Hartford metro area, and 990 units are in the New Haven metro area. The Bridge- port metro area is expected to add about 680 new units in 2024. RentCafe created the rankings based on new apartment construc- tion data from Yardi Matrix across 369 U.S. metropolitan statistical areas. The study only included apart- ment data for buildings containing 50 or more units. and business posts steering the city and beyond. Tobin said the smaller space will cost the firm about the same amount as its former location, but offers skyline views, completely remodeled floors and access to several shared building amenities, including a cafe- teria, daycare and fitness centers and a golf simulator. "It really came down to amenities," Tobin said. "Financially, it was prob- ably a wash, but for the same money we could get all this." The office was designed by Wash- ington, D.C.-based Studio Alliance. The Hartford Steam Boiler building is Robinson+Cole's sixth Hartford location since 1845. The firm has 136 attorneys in the state, including offices in New Haven and Stamford. By Michael Puffer mpuffer@hartfordbusiness.com R obinson+Cole may be the state's oldest law firm, but its new 70,000-square-foot office space on four floors at the top of the Hartford Steam Boiler building in downtown Hartford is consciously modern in appearance and philosophy. Gone are the opaque office walls in Robinson+Cole's former 120,000-square- foot location at 280 Trumbull St., as well as cubical islands marooned in the dark center of office floors. Each floor in the firm's new One State St. location is surrounded by glass, and interior glass walls allow sunlight and stunning vistas to flow through to interior cubicles. And, senior attorneys no longer get the largest offices. Now, all offices are set to a uniform, 150 square feet, said Managing Partner Rhonda Tobin. In the past, every new hire or promotion could set off a chain reaction of office moves to match the new pecking order, she said. "Really, it's just about equity," Tobin said of the firm's office design. "We are not big on titles and making distinc- tions about titles. The old setup in law firms was very much about status, and that's not what we are about."

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