Developer named for 95-101 Pearl Street
The City of Hartford has selected Sheldon Oak Central and its partners to convert a downtown office building at 101 Pearl St. into apartments, retail and office space.
Sheldon Oak Central, headed by Daniel Merida, has partnered with Westside Property Management, headed by Carlos Mouta, and Capasso Mason Enterprises Inc. on the project.
The development team plans to transform this former office building into 18,000 square feet of retail and office space in the building's lower level as well as the first and second floors.
Thirty-six rental apartments will be built on the upper floors and offer workforce housing opportunities affordable to a mix of incomes. The exterior façade will be redesigned from top to bottom.
The development team will invest approximately $17.5 million to complete the renovation. The purchase price will be no less than $400,000, depending on the cost of asbestos remediation.
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