Free Daily Headlines :

  • COVID-19
  • Money
  • Election 2020
  • Politics
  • Education
  • Health
  • Justice
  • More
    • Environment
    • Economic Development
    • Gaming
    • Investigations
    • Social Services
    • TRANSPORTATION
  • Opinion
    • CT Viewpoints
    • CT Artpoints
DONATE
Reflecting Connecticut’s Reality.
    COVID-19
    Money
    Election 2020
    Politics
    Education
    Health
    Justice
    More
    Environment
    Economic Development
    Gaming
    Investigations
    Social Services
    TRANSPORTATION
    Opinion
    CT Viewpoints
    CT Artpoints

LET�S GET SOCIAL

Show your love for great stories and out standing journalism

Solution: Sell off state properties in Hartford

  • Cities Project
  • by Matt Pilon and Greg Bordonaro | Hartford Business Journal
  • July 19, 2019
  • View as "Clean Read" "Exit Clean Read"

Hartford Business Journal

Former Gov. Dannel P. Malloy directed the state to buy 450 Columbus Ave., above, a Hartford office property, and 55 Farmington Ave. Aimed at producing savings in state government, the deals concentrated more state employees in downtown Hartford, but also removed the buildings from city tax rolls.

Former Gov. Dannel P. Malloy became one of Hartford’s most active landlords during his eight years in office, having approved the purchase of two major downtown office buildings for a combined $52.5 million — 450 Columbus Blvd. (formerly known as Connecticut River Plaza) and 55 Farmington Ave. (formerly owned by The Hartford).

Those purchases, covering nearly 1 million gross square feet, were part of a long-term strategy by the Malloy administration to reduce the state’s real estate costs by consolidating more expensive leased space into facilities owned by Connecticut taxpayers. At the time, the state said the deals would save taxpayers $200 million over a decade.

However, they also set off a debate that continues to this day.

The obvious downside for Hartford is that the state’s purchases took the properties off the tax rolls.

This is the fifth story in a series examining various ways Hartford might reduce its high  property tax rates. Here are the first, second, third and fourth.

“The upshot is that you have thousands of additional feet on the street,” said Lyle Wray, executive director of the Capitol Region Council of Governments, noting that the moves consolidated about 3,300 state workers to downtown. “There are indirect benefits to that.”

The 450 Columbus purchase also took an empty 550,000-square-foot office building off the market, lowering downtown’s vacancy rate, which improved the value of surrounding properties.

Still, in the years since, the MetroHartford Alliance, realty brokers, and others have called for the state to sell those and other Hartford properties to private owners in “sale-leaseback” transactions in order to get them back on the property-tax rolls.

Overall, the state owns 7.7 million gross square feet of office and other space in Hartford and more than $820 million in assessed real estate value in the city, records show.

Lawmakers are uncertain about the idea.

House Majority Leader Matt Ritter (D-Hartford) said he is doubtful sale-leasebacks are a politically feasible approach for boosting Hartford’s grand list.

“They aren’t a great deal for the state, although it may be a great deal for the city,” Ritter said.

He said the issue did not rear its head during the recently concluded legislative session.

Josh Geballe, Commissioner, Department of Administrative Services

However, Josh Geballe, commissioner of the Department of Administrative Services, overseer of the state’s property inventory, said he will at least consider the idea.

“We are looking to analyze this in the coming months to determine if there are responsible alternate approaches to rebalance our portfolio of owned and leased office space that could potentially save taxpayers money,” Geballe said in a statement.

Mayor Luke Bronin said he’s approached the state about ways to decrease the amount of state-owned property in the city.

“I do think there are a number of buildings the state owns that could easily be sold into private hands with long-term leases,” Bronin said. “Putting people in the buildings was the right thing to do, but lease the buildings instead of buying the buildings.”

The Cities Project, a collaboration between CT Mirror, Connecticut Public Radio, Hearst Connecticut Media, Hartford Courant, Republican-American of Waterbury, Hartford Business Journal, and Purple States, will publish periodic articles exploring challenges and solutions related to revitalizing Connecticut’s cities. Send comments or suggestions to ehamilton@ctmirror.org.

Sign up for CT Mirror's free daily news summary.

Free to Read. Not Free to Produce.

The Connecticut Mirror is a nonprofit newsroom. 90% of our revenue comes from people like you. If you value our reporting please consider making a donation. You'll enjoy reading CT Mirror even more knowing you helped make it happen.

YES, I'LL DONATE TODAY

ABOUT THE AUTHOR

Matt Pilon and Greg Bordonaro | Hartford Business Journal

SEE WHAT READERS SAID

RELATED STORIES
Best of 2019: City Revival — Did We Learn From the Urban Renewal Era?
by Tom Condon

Many Connecticut cities are seeing a 21st century renewal. Are they getting it right -- or at least better -- this time? 

Best of 2019: Reviving cities must include the excluded
by Tom Condon

Inclusive growth calls on cities to revive themselves so that all residents benefit, which has been challenging here in Connecticut and elsewhere.

Louisville: Lessons from a regional city
by Tom Condon

As Connecticut struggles to shore up its cities, it might look to Louisville -- where leaders created a thriving regional city.

Lowell comeback: From textiles to tech, and maybe textiles again
by Tom Condon

Lowell hasn’t spun dross into gold or been blessed by some other miracle. The city of 111,000 has most of the same issues that challenge other urban areas. But it has steadily moved ahead since the 1980s.

Colleges help drive urban revival, but town-gown relationships can be fraught
by Tom Condon

Colleges may not have “saved” the cities where they are located, but they advanced urban revitalization.

Support Our Work

Show your love for great stories and outstanding journalism.

$
Select One
  • Monthly
  • Yearly
  • Once
Artpoint painter
CT ViewpointsCT Artpoints
Opinion Evidence not clear that Trump incited Capitol destruction
by Alan Calandro

Defending President Donald Trump is not popular and I have no interest in writing this other than adherence to truth. Recognizing the truth (if we can find it, which is not always possible of course) should make us be able to come together around that and move on with a common understanding.

Opinion Securing our nuclear legacy: An open letter to President-elect Joe Biden
by Erik Assadourian

Dear President-elect Biden: As you noted in a tweet shortly after protestors stormed the Capitol on Wednesday, “Today is a reminder, a painful one, that democracy is fragile.” Indeed it is. And so are nation-states.

Opinion Last votes of George Floyd, Breonna Taylor and others
by Gary A. Franks

Finally, the election season is over. The historic elections we saw in this cycle were intriguing. The runoff elections for the U.S. Senate in Georgia put a cap on the campaign season. For many people this could be described as a COVID-19 election. I would argue that this was an election influenced by a pandemic but determined by the killing of unarmed Black people with no adequate justice for the Black community.

Opinion Not just environmental problem; Killingly plant is a great target
by Joel Gordes

In 1990, I was one of five legislators to introduce the first climate change legislation that became PA 90-219, An Act Considering Climate Change, the most popular bill of that session. Back then I considered climate change a national security issue… and I still do.

Artwork Grand guidance
by Anne:Gogh

In a world of systemic oppression aimed towards those of darker skintones – representation matters. We are more than our equity elusive environments, more than numbers in a prison and much more than victims of societal dispositions. This piece depicts a melanated young man draped in a cape ascending high above multiple forms of oppression. […]

Artwork Shea
by Anthony Valentine

Shea is a story about race and social inequalities that plague America. It is a narrative that prompts the question, “Do you know what it’s like to wake up in new skin?”

Artwork The Declaration of Human Rights
by Andres Chaparro

Through my artwork I strive to create an example of ideas that reflect my desire to raise social consciousness, and cultural awareness. Jazz music is the catalyst to all my work, and plays a major influence in each piece of work.”

Artwork ‘A thing of beauty. Destroy it forever’
by Richard DiCarlo | Derby

During times like these it’s often fun to revisit something familiar and approach things with a different slant. I have been taking some Pop culture and Art masterpieces and applying the vintage 1960’s and 70’s classic figures (Fisher Price, little people) to the make an amusing pieces. Here is my homage to Fisher -Price, Yellow […]

Twitter Feed
A Twitter List by CTMirror

Engage

  • Reflections Tickets & Sponsorships
  • Events
  • Donate
  • Newsletter Sign-Up
  • Submit to Viewpoints
  • Submit to ArtPoints
  • Economic Indicator Dashboard
  • Speaking Engagements
  • Commenting Guidelines
  • Legal Notices
  • Contact Us

About

  • About CT Mirror
  • Announcements
  • Board
  • Staff
  • Sponsors and Funders
  • Donors
  • Friends of CT Mirror
  • History
  • Financial
  • Policies
  • Strategic Plan

Opportunity

  • Advertising and Sponsorship
  • Speaking Engagements
  • Use of Photography
  • Work for Us

Go Deeper

  • Steady Habits Podcast
  • Economic Indicator Dashboard
  • Five Things

The Connecticut News Project, Inc. 1049 Asylum Avenue, Hartford, CT 06105. Phone: 860-218-6380

© Copyright 2021, The Connecticut News Project. All Rights Reserved. Website by Web Publisher PRO