LISC National
Our Work

Recent Investments


The goal of Hartford LISC is to increase the scale and impact of community development in Hartford neighborhoods. To this end, Hartford LISC has three core strategies:

  • Promote targeted, block-wide development to improve the quality of life and strengthen the real estate market within targeted areas;
  • Expand homeownership opportunities that help families to build assets and invest in their neighborhoods; and,
  • Facilitate partnerships that support comprehensive approaches to neighborhood revitalization – linking physical, economic and social development.

Here are some examples of Hartford LISC investments:

 

620-624 New Park Avenue

Trout Brook Realty Advisors, Inc., (TBRA) a not for-profit affiliate of the West Hartford Housing Authority, was one of the first projects to be supported by a loan from LISC’s Connecticut Transit Oriented Development (TOD Fund. LISC provided a $1,280,735 predevelopment and acquisition loan for a new mixed-use, mixed-income TOD development near the Elmwood CTfastrak station in West Hartford, CT. TBRA is building fifty-four (54) residential units and 3,367 square feet of retail space. The National Equity Fund (NEF), a LISC affiliate, provided $11.6 million of tax credit equity for the project.

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Huntington Street Homeownership - Asylum Hill

Northside Institutions Neighborhood Alliance (NINA) developed a new single family home at 54 Huntington Street in the unique historic style of Asylum Hill. This three-bedroom home was the first for NINA on Huntington Street. It was completed and sold in 2016 with the collaboration of the Asylum Hill Congregational Church and The Hartford Financial Services Group.  A second home of similar style is being developed next door at 52 Huntington Street. That home will also be sold to an income-eligible family. LISC supported both of these projects with construction loans, funding for a construction project manager and technical assistance. LISC also provides annual operating support through the Hartford Neighborhood Development Support Collaborative.

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Imlay Street Homeownership - Asylum Hill

Over many years, the building at 1 Imlay Street in Asylum Hill had become a blighted and vacant rooming house. The building is located at a highly visible corner right across from the CTfastrak stop in Asylum Hill. Northside Institutions Neighborhood Alliance (NINA) restored this home to its former glory and sold it to two school principals who wanted to live in Hartford where they work. The home now makes a positive, dramatic statement at the gateway to CTfastrak and Aetna.

LISC provided construction and bridge loans for the project along with technical assistance.  NINA also receives capacity building grants from LISC and annual operating support through the Hartford Neighborhood Development Support Collaborative.

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Park Terrace I - Frog Hollow

Park Terrace I Mutual Housing - Frog Hollow: Mutual Housing Association of Greater Hartford (MHAGH) originally developed Park Terrace I, located at 222-248 Park Terrace, in 1988.  Located across from a large park with significant recreational facilities, and between two major commercial arteries, it offers convenient access to transportation and entertainment. The apartments, in historically significant brownstone buildings, were substantially updated in 2015-16.  There are 42 apartments, most of which are affordable family rentals, with twelve market rate rentals.  The recent upgrades include high efficiency boilers, roofs, wood floors, new kitchen appliances, cabinets and bathroom fixtures. LISC provided a green planning grant, along with capacity building grants for a staff accountant, real estate consultant, construction manager and technology improvements.  LISC also provides annual operating support through the Hartford Neighborhood Development Support Collaborative.

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Summit Park - Frog Hollow

Mutual Housing Association of Greater Hartford (MHAGH) identified six historic buildings in need of rehabilitation scattered throughout the area of Summit and Park Streets in Frog Hollow. MHAGH renovated these properties to result in 42 apartments and four retail suites close to the busy Park Street commercial corridor. Summit Park includes family and elderly rental housing affordable to low and moderate income residents. LISC supported this project with predevelopment and acquisition loans as well as a grant to support the addition of “green” features in the buildings. LISC also provides annual operating support through the Hartford Neighborhood Development Support Collaborative.

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Vine Street Apartments - Upper Albany

Vine Street Apartments: Developed by Sheldon Oak Central, Inc., Vine Street Apartments includes a series of nine majestic, historic buildings with an impressive scale at a major intersection on Albany Avenue in Hartford.  The buildings have ready access to transportation, shopping, a library and a major cultural institution.  The nine buildings were constructed between 1920 and 1924 and had become run down before Sheldon Oak renovated them in 2014. They talked to key stakeholders to learn about issues and concerns, then redesigned apartments, closed alleys, improved landscaping and lighting, and added on-site management and services.  There are 74 affordable rental apartments with a great mix of tenants, including families, the elderly, and people who were formerly homeless.  Some apartments offer handicapped access and some are rented at market rates. LISC supported this project with predevelopment funding and technical assistance. LISC also provides annual operating support through the Hartford Neighborhood Development Support Collaborative.

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Wolcott Street Homeownership - Frog Hollow

Southside Institutions Neighborhood Alliance, Inc. (SINA) found two vacant and abandoned 6-unit apartment buildings located at 41-45 and 47-49 Wolcott Street, in the Frog Hollow neighborhood of Hartford, SINA’s target area. They acquired the historic properties and have renovated them into four two-family properties. The homes are close to the Park Street commercial corridor and to area hospitals. The new homes are for first-time homeowners with household incomes below 80% of the area median income (AMI). LISC supported this project with a construction loan.

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Zunner Building - Asylum Hill

The Zunner Building at 207 Garden Street in Asylum Hill had become a problem property when Northside Institutions Neighborhood Alliance (NINA) acquired it for development. Located at an important corner adjacent to The Hartford Insurance Company, the condition of building was seen as an important symbol of neighborhood health. NINA assembled the financing and transformed the mixed-use property to create four apartments, along with office and retail pace.  The building is now owned and occupied by NINA’s partner, the Hartford Community Loan Fund. LISC provided acquisition and predevelopment financing for the project as well as a grant to support the addition of “green” features in the building.  NINA also receives capacity building grants from LISC and annual operating support through the Hartford Neighborhood Development Support Collaborative.

Please read more in our News section.

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