111 Pearl Street
111 Pearl St
Address: 111 Pearl St, Hartford CT
Year Purchased: 2017
Property Type: Office to Residential Redevelopment
Property SF: 52,000 SF Residential
9,000 SF Commercial
Units: 101 Luxury Rental Apartments
Project Highlights: Originally built in the early 1950's, 111 Pearl St was one of the earliest modern office buildings in downtown Hartford. Over the years, occupancy declined and the building fell into disrepair. The partnership of Girona Ventures and Wonder Works Construction & Development Corp. identified the potential upside of the centrally located property, and acquired the building, along with the adjacent 101 Pearl St, in 2017.
Upon projected completion in 2019, 111 Pearl St will feature approximately 101 studio, 1 and 2-Bedroom luxury rental apartments. The units will be of efficient layout and contemporary design. We believe the unit mix we have created will both cater to, and draw more young people into the center of the city, where they want to be. The building will retain the historically significant facade, as we completed the process of having the property historically designated through the State Historic Preservation Office, and have its interior completely gut renovated to exacting standards. Participation from the Capital Region Development Authority and Department of Economic & Community Development was integral in getting this project off the ground.
The property will feature resident amenity space on the lower level, including a fitness center, spa, 60+ seat movie theater, bocce ball court, as well as sharing the amenities of its sister properties 111 Pearl and Spectra Boutique Apartments, which include indoor/outdoor rooftop lounge, hardwood basketball court, gaming rooms, conference rooms and library/study space.
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