Hartford Business Journal

HARTFORDBUSINESS.COM | AUGUST 11, 2025 3 A rendering of the new indoor waiting area at the Waterbury train station. Contributed Image BIZ BRIE FS Learn More Financing for business success made Simple. $2,100,000 Land Acquisition Loan Multifamily New Haven County, CT $9,500,000 Construction Loan Multifamily Hartford County, CT $4,000,000 Equipment and Working Capital Lines of Credit Transportation Company Hampden County, MA $10,900,000 Construction Loan Multifamily Essex County, MA $3,300,000 Working Capital Line of Credit and Mortgage Commercial Contractor Hampden County, MA $750,000 Equipment Term Loan Packaging Design Company Hampden County, MA Shaun Dwyer Senior Vice President Commercial Banking sdwyer@bankatpeoples.com David Ference First Vice President Commercial Banking dference@bankatpeoples.com Matthew Krokov First Vice President Commercial Banking mkrokov@bankatpeoples.com 877.888.1388 | bankatpeoples.com/PBbusiness Member FDIC As the owner works with a developer to transform the building into a mix of 38 luxury apartments, office space and retail, the state Department of Transpor- tation has its own plans for the south end of the building, which it leases from the former newspaper operator. The DOT said it has allocated funds to improve the Waterbury train station, including replacing the platform, installing a ticket kiosk and security upgrades at a cost of $24.5 million. In addition, the DOT plans to spend $7.5 million converting the former baggage room at the south end of 389 Meadow St., into an indoor waiting area. The renovations will include replacing the antiquated canopy and adding public bathrooms. The 1,570-square-foot waiting area will feature 21 seats, water fountains and customer information displays. The Republican-American, which was acquired by Hearst Connecticut in February, moved out of 389 Meadow St. in late July. Employees say Hearst is looking for a new office for them. Chase Bank eyes 5 new branches in CT Chase Bank announced that it's planning to open five more branches in Connecticut over the next two years in locations including Old Saybrook, Torrington and Cheshire. Chase has been rapidly growing its brick-and-mortar footprint in the state in recent years, while many large money-center lenders have reduced their branch counts. Over the past seven years, Chase said it has opened more branches than all of its large bank peers combined, and it's on track to meet its goal of 500 new branches by 2027. Chase said it opened its first branch in Connecticut in 2019 in downtown Hartford, at 151 Asylum St., and now has 62 branches statewide. Between 2019 and 2024, the bank said it also committed nearly $7 million to philanthropic initiatives in the region. The new Connecticut branches will be located at: • East Main St. and Torringford St., Torrington; • I-691 and Rt. 10, Cheshire; and • Boston Post Road and Denmore Lane, Old Saybrook. Chase said it wasn't ready to disclose the location of two other new branches planned for Connecticut because they haven't received federal regulatory approval. CT Innovations invested $45.8M in early-stage companies, venture funds in FY25 Connecticut Innovations (CI), the state's venture capital agency, said it invested $45.8 million in 67 compa- nies and venture funds in the fiscal year that ended June 30. The total was divided among climate tech ($10 million), healthcare ($16 million), technology ($8 million), and consumer-related companies ($6.5 million) as well as venture funds ($5.5 million), CI said. CI's investments also helped attract $653 million in outside capital into its portfolio companies, it said. The fiscal year generated $43.2 million in cash proceeds, which CI said will be invested in more early-stage companies. Additionally, CI said 157 angels invested $19 million in 43 quali- fied businesses through the Angel Investor Tax Credit Program during fiscal 2025. A Chase Bank branch in Enfield, on Hazard Avenue. Contributed Photo

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