Hartford Mayor Eddie Perez announced late yesterday that 95-101 Pearl Street, LLC—a partnership of Westside Property Management, Joe Capasso Mason Enterprises, Inc., and Sheldon Oak Central, Inc.—was selected among four applicants to develop a 12-story downtown property at that address.
In August 2006, according to an article by Jeffrey Cohen in today’s Courant, a proposal for luxury condos at the location fell through, “a victim of rising construction and remediation costs,” Cohen notes. “The building was found to have an unexpectedly large amount of asbestos, which will require about a $2 million cleanup. Even though the city dropped its asking price from $1.2 million to $400,000, the original deal collapsed.”
Other bidders, Cohen reports, were Martin Kenny (owner of Trumbull on the Park), David Nyberg (owner of 55 on the Park), and “a partnership involving the family of Sanford Cloud.”
All companies involved in the LLC partnership are Hartford-based; Westside has both commercial and residential management experience, including the prominent Bushnell Towers downtown (pictured, left and right).
According to yesterday’s release from the mayor’s office, the developer will transform the former office building (not pictured) into 18,000 square feet of retail and office space from the ground level up to the second floor, with 36 rental apartments on the upper floors. (more…)