Live Breaking News & Updates on Sheldon Charter Oak Neighborhood

A redevelopment of the Martin Luther King apartments in Hartford’s Sheldon Charter Oak Neighborhood has been stymied after organizers learned inflation and higher interest rates have increased the project’s costs by about $8 million.

“We thought we had it sourced, but interest rates went up and construction costs went up,” said Capital Region Development Authority Executive Director Michael Freimuth of the now $58 million project. “We got hit on both ends and it opened up a hole.” ....

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