Governor M. Jodi Rell announced today that $5.5 million for Adriaen’s Landing in Hartford is expected to be approved by the State Bond Commission at its meeting on August 4.

 

“The revitalization of our capital city has benefits that extend far beyond its borders,” Governor Rell said. “A thriving Hartford is essential for the region, its work force and our economy. My administration is committed to the success of this project.”

 

A $4 million allocation was requested by the Office of Policy and Management and will be used for a grant to help finance the construction of a parking facility with at least 225 spaces. A grant of $1.5 million will assist the developer with the Front Street commercial/retail component of Adriaen’s Landing. The Bond Commission allocated $6 million for Front Street in 2006, prior to the selection of the current developer.

 

Adriaen's Landing is a $656 million, 28-acre multi-use, public-private redevelopment project located along Columbus Boulevard in downtown Hartford. 

 

The waterfront project currently includes the new Connecticut Convention Center and Downtown Marriott Hotel. Two more key components -- the Connecticut Science Center and the Front Street District – are under construction and development.

 

A new economic and fiscal impact study of Adriaen’s Landing shows that the project is expected to create an average of 1,852 jobs and $7.8 million in net new tax revenue annually for the state. The study, conducted by the Department of Economic and Community Development for the Capital City Economic Development Authority, also concludes that the city will realize an annual average of $26,453,876 in net new local revenue as a result of Adriaen’s Landing’s construction and operations.