An apartment complex called Concourse Park will be constructed on the former site of Showcase Cinemas in East Hartford, Connecticut. The cinema closed in 2006 and remained abandoned for a period of time. However, in January 2019, the town purchased the property for $3.3 million in order to explore potential private development opportunities.
Jasko Development has acquired the 26-acre site from the town to develop Concourse Park and has signed a development agreement. Initially, the town’s Planning and Zoning Commission approved the project plans in September 2022 for the construction of 470 units. However, in May 2023, they amended the agreement to allow the developers to build anywhere between 300 and 400 units. Jasko Development is collaborating with Zelman Real Estate on this project, with an investment of $110 million.
Timeline for the Concourse Park project
According to Mayor Mike Walsh of East Hartford, the developers are required to begin construction on Concourse Park, located at 936 Silver Lane, no later than the end of September. The development agreement for the property includes this clause. The project is expected to take between 18 and 24 months to complete once construction begins.
Brian Zelman, the principal of Zelman Real Estate, stated that Concourse Park will offer a variety of apartment options, including studios, one-bedroom, two-bedroom, and three-bedroom units. Once completed, the complex will house approximately 1,000 people. Residents will have access to amenities such as a 13,000-plus square foot clubhouse, swimming pool, high-end fitness facility, music studio, and large co-working space. The location will also feature a landscaped campus-like setting, providing ample space for residents to socialize.
Governor Ned Lamont of Connecticut expressed his satisfaction with the Concourse Park project. He acknowledged that construction in Connecticut is more challenging than in many other states, and the lending market is also difficult. Nevertheless, Lamont believes that the new apartment complex will initiate a significant revival of East Hartford.
Closing Statements:
FAQ
1. What is Concourse Park?
Concourse Park is an apartment complex project being built on the former site of Showcase Cinemas in East Hartford, Connecticut.
2. Who is involved in the development of Concourse Park?
Jasko Development and Zelman Real Estate are working together on the Concourse Park project.
3. How much will be invested in the Concourse Park project?
The project is expected to have an investment of $110 million.
4. What amenities will be available at Concourse Park?
Residents of Concourse Park will have access to amenities such as a clubhouse, swimming pool, fitness facility, music studio, and co-working space.
5. What is the expected timeline for the completion of Concourse Park?
Once construction begins, the project is estimated to take between 18 and 24 months to complete.
6. What is the Governor’s opinion on the Concourse Park project?
Governor Ned Lamont is pleased with the Concourse Park project and believes it will contribute to the revival of East Hartford.
