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An apartment complex dubbed the Concourse Park will go up at the former Showcase Cinemas site in East Hartford, Connecticut. The cinema closed in 2006 and the owners abandoned the property for a while. However, the town later purchased it for $3.3 million in January 2019 to explore private development opportunities.
Jasko Development acquired the 26-acre site from the town to build the Concourse Park, after signing off on a development agreement. Initially, the town’s Planning and Zoning Commission approved the project plans in September 2022 to build 470 units. But they later amended the agreement in May 2023 to allow the developers to build anywhere between 300 and 400 units. Jasko Development is working in collaboration with Zelman Real Estate and they will invest $110 million on the project.
Timeline for the Concourse Park project
The developers must break ground on the Concourse Park project located at 936 Silver Lane by this September ending. According to Mayor Mike Walsh of East Hartford, this clause was part of the development agreement for the property. Once construction commences, the project could take between 18 and 24 months to reach completion.
Zelman Real Estate’s principal, Brian Zelman said Concourse Park would offer a mix of studio apartments, one two, and three-bedroom units. Additionally, he said it would also accommodate about 1,000 people once complete. Residents at the property will enjoy access to amenities such as a 13,000-plus square foot clubhouse and swimming pool. A high-end fitness facility will be available at the community, along with a music studio and large co-working space. Furthermore, the location will feature a landscaped campus like setting, with a lot of space for residents to socialize.
Governor Ned Lamont of Connecticut, was quite pleased with the Concourse Park project. He pointed out that construction in Connecticut is tougher than many other states and the lending market is also difficult. However, Lamont said the new apartment complex would mark the beginning of a major revival of East Hartford. |
