Page 3 - ஷெல்போர்ன் உலகளாவிய தீர்வுகள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Prominent downtown Hartford corner to get upgrades, inviting people to stop, not just cross through, as part of larger $24M renovation

Prominent downtown Hartford corner to get upgrades, inviting people to stop, not just cross through, as part of larger $24M renovation
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Former Red Lion Hotel in downtown Hartford sells for $22 million See what plans the new owners have for the building

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.

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Shelbourne joint venture commits $30M to Hartford hotel conversion

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.

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Liberty Bank targets Hartford commercial market for next big growth opportunity

As the COVID-19 pandemic recedes, Connecticut’s largest mutual bank is pursuing a commercial loan incursion into Hartford and the surrounding region. While it’s the third largest Connecticut-based lender by deposits, Middletown’s Liberty Bank has not historically been a big player in the Hartford market. In fact, it currently doesn’t have a branch in the Capital City, but it’s starting to plant its flag. The bank just opened two new loan offices in Hartford, including one in the heart of downtown, at 100 Pearl St. Indeed, Liberty has written a greater portion of loans outside of Connecticut than is typical for banks of its size, thanks in part to a strong niche in timeshare vacation property financing.

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Shelbourne, Blue Haus relaunch Pratt Street WiFi service

Free wireless internet service has returned to the Pratt Street corridor for the summer. New York-based realty investor Shelbourne Global Solutions, one of downtown Hartford’s most prolific landlords, and private real estate and development firm Blue Haus Group announced Tuesday they have relaunched the “wiDistrict,” which provides free outdoor public WiFi to visitors in the Pratt Street area. The partners first set up the service last August to provide a destination for remote workers and students, with the added goal of stimulating foot traffic to local businesses. It operated for 90 days before shutting down in October. This year, the wiDistrict will remain up and running until October again, according to Blue Haus.

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