Hartford Business Journal

HARTFORDBUSINESS.COM | APRIL 7, 2025 7 Deal Watch East Hartford Mayor Connor Martin stands at one corner of the recently demolished Silver Lane Plaza. East Hartford lining up hefty incentives for mixed-use redevelopment of Silver Lane Plaza $4.6 million to the property's former owner, East Hartford Venture LLC. Town officials used eminent domain, claiming the past owner had rebuffed repeated revitalization over- tures for the blighted site. However, East Hartford Venture is pressing a court challenge seeking a higher level of compensation than what was offered by the town. Regardless, East Hartford has pushed forward with demolition of the buildings, signage and other debris on-site, work that is expected to wrap this month. Existing grant funding will also be used to clean up pollution from a dry cleaner that used to operate in the plaza. Any leftover funds will be used to further defray development costs. The town also agreed to arrange a tax abatement. Under the letter of intent, the developers would pay $400,000 for the site. The scope of the final development has not been finalized. According to the letter of intent, there would be no more than four single-story commercial buildings along Silver Lane, with drive-through lanes for at least two. There would also be a retail building, along Applegate Lane, of at least 10,000 square feet, with a drive-through for one endcap. The residential portion would contain studio and one-, two- and three-bedroom houses and/or town- houses. The number of units would be adjusted by the developer based on market demand. The most recent design proposal shared with town officials includes 42 single-family houses and 72 additional units divided among 16 By Michael Puffer mpuffer@hartfordbusiness.com E ast Hartford officials have tentatively agreed to help secure a $10 million state grant to incentivize a large-scale, mixed-use redevelopment of the former Silver Lane Plaza. Mayor Connor Martin, on March 20, signed a nonbinding letter of intent with a development group interested in the 22-acre site, which, until recent demolition by the town, hosted a deteriorating, three-building, 156,790-square-foot complex. The current vision for the rede- veloped property is mixed-use: 114 housing units split between single-family and townhouses, along with about 52,000 square feet of office, retail and restaurant space in five buildings. The $10 million grant — which still needs state Bond Commission approval, and would be funneled through the Capital Region Develop- ment Authority — would fund side- walks, drainage and other infrastructure associated with the development. "What I find most exciting about the letter of intent is it shows a vested interest in this site after it has sat dilapidated for more than 20 years," Martin said during a recent inter- view. "That's what the letter of intent means to me, more than anything. Besides the terms and conditions, it's a commitment they are making in East Hartford." The letter of intent was signed by Jeremy Grossman, president of Massachusetts-based Grossman Development Group. His firm — along with partners Charter Realty Prin- cipal Daniel M. Zelson and veteran real estate attorney Jason C. Hess — submitted the only response to East Hartford's 2023 RFP, which sought out a developer for the Sliver Lane site. The letter outlines general terms that will form the basis for negotiating a binding development agreement. That final agreement will require ratification from East Hartford's Town Council. "It's a handshake agreement between the admin- istration, the mayor, me and the developer to agree to work together, and they are very general terms," said Eileen Buck- heit, East Hartford's director of development. "It is easy to agree to things in concept. Where the rubber meets the road is the development agreement itself." Buckheit said negotiations have gone smoothly as the prospective developers work to mesh town priori- ties with market realities. Grossman declined to comment for this story, saying it would be prema- ture to discuss plans before they are submitted to land-use boards. Deep investment East Hartford has already invested heavily in the redevelopment of what had been a run-down and underused retail plaza occupying a large site along a busy commercial artery. It has access to $10.5 million in initial state grant funding, which is being used to secure and clean the property. East Hartford claimed the 22-acre Silver Lane Plaza site via eminent domain on March 1, 2023. The town, using that initial state funding, paid Eileen Buckheit A rendering of the mixed-use housing redevelopment planned for the Silver Lane Plaza shows 42 single-family houses and 72 additional units divided among 16 townhouse-style buildings. CONTRIBUTED RENDERING HBJ PHOTO | MICHAEL PUFFER Continued on next page

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