Hartford officials are advancing a proposal for a $2 million grant program designed to fill vacant retail, restaurant, and entertainment spaces in the area surrounding the PeoplesBank Arena. The initiative, named the Arena District Retail Initiative, aims to revitalize key downtown storefronts, some of which have been empty for decades.
Key Takeaways
- A new $2 million grant program, the Arena District Retail Initiative, is proposed for downtown Hartford.
- The program targets eight specific vacant properties around the PeoplesBank Arena.
- Grants of up to $250,000 per location will be available, requiring a dollar-for-dollar match from recipients.
- The initiative builds on significant state investments, including a $145 million arena renovation and the development of over 3,000 downtown apartments.
A Focused Revitalization Effort
City officials have developed a targeted plan to stimulate commercial activity in the blocks immediately west of the 16,000-seat PeoplesBank Arena. The proposed Arena District Retail Initiative will dedicate $2 million in state bond funding to attract new businesses to long-vacant properties.
This program is modeled after the city's successful $9 million Hart Lift grant program, which began in 2021. However, the new initiative has a much more concentrated focus, targeting eight specific addresses within a two-block radius of the arena. This area is anchored by Pratt Street, a primary retail corridor in downtown Hartford.
Targeted Properties for Grant Funding
The eight commercial spaces eligible for the Arena District Retail Initiative include a mix of sizes and locations:
- PeoplesBank Arena retail spaces #1 and #2: 13,000 sq. ft.
- 180 Asylum St: 841 sq. ft.
- 230 Asylum St: 8,473 sq. ft.
- 260 Asylum St: 5,074 sq. ft.
- 103 Pratt St: 3,489 sq. ft.
- 892 Main St: 4,200 sq. ft.
- 900 Main St: 7,998 sq. ft.
- 942 Main St: 18,000 sq. ft.
Property owners and their prospective tenants can apply for grants of up to $250,000 per location. The program mandates a 1:1 financial match, meaning recipients must invest an equal amount of their own capital into the property build-out. In exceptional cases, larger grant awards may be considered.
Building on Major State Investments
The proposed grant program is the latest in a series of significant state-funded efforts to revitalize Connecticut's capital city. Over the past decade, the Capital Region Development Authority (CRDA) has used state bond dollars to facilitate the construction of more than 3,000 new apartments in the downtown area through low-interest loans.
This residential growth is complemented by a major public works project. State taxpayers are currently funding $125 million of the ongoing $145 million renovation of the PeoplesBank Arena itself. The new retail initiative is designed to leverage these investments by creating a more vibrant street-level environment for residents and visitors.
Decades of Vacancy
According to local business leaders, some of the targeted storefronts have remained unoccupied for decades due to their poor condition, requiring substantial investment to become usable for modern businesses.
David Griggs, the President and CEO of the MetroHartford Alliance, emphasized the importance of activating these spaces. He stated that the program presents an opportunity to address a long-standing issue.
“For us, it’s an opportunity to do something that hasn’t been done — activate the front of the arena,” Griggs said.
Addressing a Key Barrier to Tenancy
The Challenge of 'Raw' Spaces
A primary reason for the persistent vacancies is the "raw" condition of the storefronts. Griggs explained that many of these properties lack basic infrastructure, including plumbing, finished flooring, and even fundamental electrical systems. This makes the initial cost of renovation prohibitively expensive for many potential tenants.
“The floor is construction-grade cement,” Griggs noted. “You can’t even polish it to make it work. So, there are a lot of dollars that have to go into making it tenant-ready.”
NAI Lexington Commercial, a real estate firm representing several properties in the district, assisted in assessing the conditions of these spaces. The firm's president, Kevin Kenny, believes the grant funding could be the critical element needed to make these locations viable.
“It’s greatly needed to finish what everyone collectively started over there on Pratt Street,” Kenny stated. “A lot of those spaces just need total renovation far beyond the usual scope to get them built out to the latest standards.”
Prospective Tenants Awaiting Funding
The availability of grant funding is expected to convert interest into signed leases. Kenny confirmed that his firm is already in discussions with several potential businesses that are waiting for this financial support to move forward.
Among the interested parties are an experiential entertainment venue featuring activities like billiards, ax-throwing, and golf simulators, as well as a new bar concept considering a corner location at Trumbull and Pratt streets.
“There are at least five of those spaces that have people waiting in the wings,” Kenny said. “This would be the ammo they need to sign on the dotted line.”
Program Administration and Oversight
If approved, the two-year initiative will be administered by the Hartford Chamber of Commerce, the same organization that managed the citywide Hart Lift program. This ensures that an experienced team will oversee the application and distribution process.
A six-member finance committee will be responsible for reviewing all applications. This committee will include representatives from key local organizations:
- Capital Region Development Authority (CRDA)
- The City of Hartford
- MetroHartford Alliance
- Hartford Chamber of Commerce
- Professionals from related fields, such as real estate brokers or attorneys
The City of Hartford will retain veto power over any application, ensuring that grant recipients are in good standing with all municipal agencies. The proposal is scheduled for consideration by the CRDA board and, if it passes, will require final approval from the state Bond Commission before funds are released.