Former downtown Hartford church property for sale hartfordbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hartfordbusiness.com Daily Mail and Mail on Sunday newspapers.
Shelbourne Global Solutions LLC of Brooklyn, N.Y. downtown Hartford’s largest commercial landlord and Waterbury-based Axela Group have purchased the former Red Lion Hotel in downtown Hartford and plan to complete its conversion to an apartment building.
Shelbourne Global Solutions and a Waterbury-based partner have acquired downtown Hartford’s Red Lion hotel for $22 million, and plan to spend another $8 million converting the remaining guest rooms at the recently foreclosed property into market-rate apartments.
A joint venture of Shelbourne and Axela Group closed late last week on the 50 Morgan St. hotel, according to Yitz Rabinowitz, vice president at Axela, which is a significant off-campus housing developer and landlord around UConn in Storrs and also develops single-family homes, storage facilities and other properties.
The property is in the midst of a stalled conversion overseen by former owner Inner Circle, and currently contains 96 apartments on the upper floors and approximately 156 hotel rooms. The Red Lion closed shortly after the COVID-19 pandemic hit.
The Hartford Donates $1 Million To Accelerate Homeownership In City Of Hartford s Asylum Hill Neighborhood streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
The owners of hundreds of apartments in New Haven have purchased their first two properties in downtown Hartford, and they have plans to convert one of them a vacant, office building on Asylum Street into residential rentals.