Two buildings that have been vacant in downtown Hartford for more than 20 years are getting a facelift.
New York City developers Girona Ventures and Wonder Works Construction bought the buildings at 95-101 Pearl St. and 111 Pearl St. and plan to turn them into apartments with a combined 258 units.
Much of the inside of the blighted buildings will have to be gutted.
“When it rains you can see even there’s water there … and that’s from the rain from yesterday and it leaks,” Laura Nigro, of Simsbury, said, pointing out to the gutters dripping from the twelfth story of the building.
She works across the street from the buildings.
“There’s bricks falling off in the winter time,” said Fred Schoenfeld, of Manchester, who also works in the same building.
There is extensive damage to the building, but Jeff Ravetz, the founder of Girona Ventures, told NBC Connecticut they will be sensitive to any architectural elements, especially at 111 Pearl St., which is a historic building.
The $51 million project would not be move-in ready for at least another two years, Ravetz said.
This is the second project for Girona Ventures and Wonder Works Construction in Hartford, which redeveloped the old Sonesta hotel on Constitution Plaza in 2015.
“We found the people in Hartford of very high quality and eager to do business. We felt like what we’re doing has a significant impact on the city,” Ravetz told NBC Connecticut.
Approximate costs to rent:
- Studio: $1,100
- One-bedroom unit: $1,300
- Two-bedroom unit: $2,400