An aging apartment complex is being redeveloped into 155 new affordable homes in Hartford, Connecticut.
Developers Vesta Corp. and Sheldon Oak Central recently celebrated the groundbreaking of MLK Apartments in the city’s Sheldon/Charter Oak neighborhood.
“We are so happy and proud that Sheldon Oak’s partnership with Vesta is bearing fruit, a beautiful 155-unit MLK Apartments that will attract new families to our neighborhood and ensure that our longtime residents, particularly our seniors who raised families here, can afford to remain,” said Bernadine Silvers, Sheldon Oak Central board member and long-time neighborhood activist.
The $65 million redevelopment includes a complete teardown and rebuild of a nearly 60-year-old public housing-style complex that Sheldon Oak Central had owned and operated since 1996. The 64 units are being replaced with 70 one-, 63 two-, and 22 three-bedroom apartments along with a fitness center and a community room. The new complex will feature townhouse-style buildings and an accessibility-friendly building with an elevator, making it more inclusive for residents with disabilities.
“After years of planning and collaboration with local, state, and federal stakeholders, we're confident that this project will be a source of pride for the community and a transformative upgrade for current and future residents,” said Aaron Greenblatt, executive vice president and counsel at Vesta Corp.
Funding partners include the Connecticut Housing Finance Authority, Connecticut Department of Housing, Connecticut Department of Economic and Community Development, and National Equity Fund. Project-based Section 8 rental subsidies will be provided by the Department of Housing and Urban Development and the city of Hartford.
LaRosa Building Group is serving as the general contractor, and Crosskey Architects is leading the architectural design.