Views over Connecticut River stretch 40 miles at planned mega-development site

Hartford’s skyline, the Connecticut River, the Bulkeley Bridge and miles of rolling hills dominate the view from the 111 Founders Plaza office tower in East Hartford, a factor that Port Eastside partners expect will create a strong market for the apartments they’re going to build there.

The 19-story tower last month became one of the final properties the partnership bought for its hugely ambitious redevelopment of East Hartford’s riverfront , but its conversion is the first priority for the development team.

It will be by far the tallest residential building on the east side of the river, offering commanding views from the top floors that can stretch as far as 40 miles.

“This whole area has been hiding in plain sight,” partner Bruce Simons said while giving a recent tour of vacant floors in 111 Founders Plaza. “This is a hidden gem right here.”

Mayor Connor Martin and the town’s business community see Port Eastside as a central part of the city’s revitalization, which also includes new mega-warehouses, an overhaul of the Silver Lane commercial zone and plans for a large apartment complex at the former Showcase Cinemas property.

Port Eastside’s partners, some of the major names in Greater Hartford’s business community, first publicly disclosed their redevelopment plans for the Founders Plaza section of East Hartford a year ago.

At the time, they spoke of tearing down the 183,000-square-foot Bank of America building and other sections of the complex of 1970s office buildings and garages, all to make way for as many as 1,000 new apartments along with restaurants, stores, entertainment venues and more.

But there was no public talk of 111 Founders, which still has commercial tenants despite suffering the worsened vacancy rates that struck nearly all office buildings after the pandemic. The possibility of repurposing the 270,000-square-foot tower made it the crown jewel of that entire section of East Hartford.

Port Eastside acquired a multimillion-dollar mortgage on the building, which was under threat of a shutdown by the fire marshal’s office because it has no sprinkler system. The owner, Merchant 99-111 Founders LLC, agreed in August to relinquish the property to Port Eastside.

Port Eastside planners already have mapped out how they can redo the lobbies and transform offices into apartments, a substantial remodel that includes new plumbing, heating, electrical systems and more. The company now lists 111 Founders as the top priority in its overall redevelopment plan, which will extend for years and possibly even a decade.

“We’ve done conceptual plans for this, we’re doing budgets for this. This is where we’re starting — this building,” Simons said. “What we have here are the bones of something that you couldn’t create in this environment.”

Floors of office towers are typically 20,000 square feet or larger. Because each floor at 111 Founders is only about 11,000 square feet, the building lends itself to residential conversion, Simons said. Buildings much bigger than that are unwieldy because there would end up with too much dead space around the elevator cluster.

“Only a small percentage of buildings lend themselves to this. This is steel and concrete, it’s very difficult to make a building of this type today,” Simons said. “We can do about 250 apartments here.”

Port Eastside isn’t talking yet about pricing, building amenities or the size of each unit, but Simons and his partners know the appeal of a high rise along a river with unique views of a major city. He said he and his partners saw the parallels to Jersey City and Hoboken, which were once ignored but are now home to high-demand, trendy apartment towers because of the panoramic views of Manhattan.

Beyond the tower, the partnership plans another 850 apartments possibly with some condos in new buildings farther south along the waterfront. There’s a plan for a six-story, 1,200-car garage with rooftop green space and 40,000 square feet of retail, along with more than 200,000 square feet of entertainment and retail development nearby.

“We have 28 acres here. It’s a real window of opportunity,” Simons said.

Creating extensive public greenspace along the waterfront is a key part of creating the destination ambiance that Port Eastside wants. Walkability is central, and the plan includes an East Coast Greenway connection and a long stretch of elevated public walkways along the embankment.

“The river is a cultural and community resource for this region. Riverfront Recapture has done really wonderful things, and everything we’re doing is an opportunity to elevate and employ all these investments the state has made: The science center, the convention center, Adriaens Landing.”

Many of the Port Eastside partners grew up in Greater Hartford and see this as a legacy project more than a standard investment opportunity, he said. They’re looking for ways to link the Hartford and East Hartford riverfronts so people feel comfortable parking and then spending the day between recreation spaces, entertainment venues, stores and restaurants.

The group includes Simons and his brother, Harris Simons, who are principals of Simons Real Estate Group in West Hartford; Manafort Brothers Inc. President Jim Manafort; Peter S. Roisman, head of Houston-based PropTech company REV Leasing; Nicholas Michnevitz III, president of West Hartford-based MBH Architecture; Hoffman Auto Group Co-Chairman Jeffrey S. Hoffman; Chris Reilly, president of Hartford-based Lexington Partners; and Alan Lazowski, chairman and founder of LAZ Parking.

“The thing about what happened in Hartford while we were growing around here is they forgot people,” he said. “We care about this place. Let’s face it, when our kids come out of school they want to be in Brooklyn and Boston. We want them to be here. Those are the people who start small businesses, sometimes big businesses.”