Hartford Business Journal

12 Hartford Business Journal • November 16, 2015 www.HartfordBusiness.com Mouta is on a mission to fill his 360 Main apartments H artford developer Carlos Mouta admits to relishing a challenge. The lifelong city resident and businessman had hands full five years ago, when he undertook the $5 million renova- tion and expansion of the tired, 1960s-era shopping plaza at Park and Laurel streets that was once home to a Bradlees depart- ment store, Stop & Shop supermarket and a handful of other unmemorable tenants. "People thought I was crazy,'' Mouta said of the public's response to his reclamation investment. His transformed Pope Commons brims today with a Family Dollar store, auto-parts retailer, wine shop, nail salon and others. The city followed up by repaving and beau- tifying the worn-out stretch of Park Street that fronted Pope Commons. Now, Mouta, owner of other Parkville apartments, is applying his same determina- tion and vision to reposition a 1970s-era apart- ment building he bought in 2002 on down- town's southern fringe, to ride coattails of mounting demand for center-city apartments. Most of the more than 1,000 or so apart- ments converted, or in the midst of being so, from former office space are within the formal boundaries of the city's central busi- ness district. Mouta's 360 Main Street Apartments are well within walking distance of downtown employers, restaurants, night-life and other private and public amenities. But in relative terms, many of the converted apartments are located much closer than 360 Main's. To overcome that gap, Mouta is creat- ing at least a dozen units whose floor space is one-half to two-thirds that of 360 Main's 700-square- foot to 900-square- foot units. These "micro-apartments,'' Mouta says, address a growing need for smaller, more afford- able shelter. Rebuffing as too costly the injection of state financial assistance to redo 360 Main's 108 units, Mouta has been his own contractor for the nine-story build - ing's renovation. When finished, it will have 115 living units, of which 13 will be micro- apartments, he said. The five, 435-square-foot, one-bedroom micro-apartments completed to date have been rented for $1,025 a month to takers who include a Travelers worker and other blue-collar ten- ants earnings about $40,000 a year, he said. Eight more "studio" micro units under construction will be even smaller, with 300 square feet and rent for $750 to $775 per month. Rents for most of 360 Main's larger apartments range from $950 to $1,350. But his biggest concern, he admits, is that no one knows that his building, too, is being updated and modernized with many of the same conveniences as 179 Allyn St., 777 Main St., The Grand on Ann, and The Spectra Boutique Apartments. His units, too, have stainless steel appli- ances, marble countertops, faux wood flooring, and extra spacious, handicapped- accessible bathrooms. To market 360 Main, which he says is 96 percent occupied, Mouta and the building's leasing-managers have been staging "open houses'' every Thursday from 4:30 p.m. to 6:30 p.m. in recent weeks. "No one really knows about us,'' he said. "We have as good a product or better.'' Locked Up's Somers space Locked Up Monitored Security Inc. has opened a 1,000-square-foot sales-technical support office at 27 Quality Ave. in Somers. Connecticut Commercial Realty & Select Homes represented Locked Up, the U.S. unit of Great Britain's Locked Up Moni- tored Security Ltd. Century 21 Advantage represented land- lord DigiPro Engineering. n Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com. Gregory Seay is the Hartford Business Journal News Editor. Gregory Seay DEAL WATCH Hartford developer Carlos Mouta shows off one of his renovated units at 360 Main St. H B J P H O T O | G R E G O R Y S E A Y The Anti-Defamation League's (ADL) CT Regional Office trains over 20,000 students and educators EVERY year here in Connecticut on how to build a safe and inclusive school environment. Imagine a World Without Hate ® Join Us! To learn more, go to Connecticut.adl.org or call (203) 288-6500. TAKE ACTION. STOP BULLYING. Every day, young people are demeaned and harassed because of their race, religion, social class, sexual orientation or some other aspect of their identity. Bullying can devastate children—both emotionally and academically.

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