Adaptive reuse will transform vacant former office buildings into high-quality, mixed-income housing

Pennrose, The Cloud Company, local officials, and project partners gathered to celebrate the groundbreaking of Trinity Street Apartments, the redevelopment of two vacant, 1920s-era state office buildings into 104 mixed-income rental homes. The development team plans to begin welcoming residents in early 2027.

Speakers at the event included Governor Ned Lamont, State of Connecticut; Mayor Arunan Arulampalam, City of Hartford; Matt Pugliese, Deputy Commissioner, Connecticut Department of Economic & Community Development; Seila Mosquera-Bruno, Commissioner, Connecticut Department of Housing; Nandini Natarajan, Chief Executive Officer, Connecticut Housing Finance Authority; Annette Sanderson, Executive Director, Housing Authority of the City of Hartford; Nicholas Hoffer, Senior Vice President, KeyBank Real Estate Capital; Sanford Cloud Jr., Chairman & CEO, The Cloud Company, LLC; Karmen Cheung, Regional Vice President, Pennrose, LLC; Charlie Adams, President, Pennrose, LLC.

Trinity Street Apartments will deliver 83 market-rate and 21 income-restricted units at 50% to 60% of the Area Median Income (AMI), with studio, one-, and two-bedroom apartments available. Residents will also enjoy access to robust community amenities, including inviting community rooms, fitness center, coworking spaces, landscaped rooftop terrace, indoor bicycle storage, on-site maintenance and management, and more.

In addition to the brand-new, modern apartments, the project calls for approximately 4,000 square feet of ground-floor retail space and significant building improvements with the installation of all-electric utilities, new insulation, repointed masonry, and sustainability upgrades.

“Located directly across the street from Hartford’s historic Bushnell Park and the State Capitol, Trinity Street Apartments will bring vitality, investment, and much-needed housing to one of Connecticut’s most iconic locations,” said Karmen Cheung, regional vice president at Pennrose. “As the state continues to grapple with the housing crisis, we hope the project serves as a model for successful and equitable office-to-housing conversions.”

“We’re proud to transform an underutilized site into a community asset for individuals and families in Hartford,” added Marsha Blunt, president of Pennrose Management Company. “With its prime location, full suite of amenities, and modern units, Trinity Street Apartments will be an exceptional living experience for individuals and families at a range of incomes.”

“It has taken us four years to bring together the financial resources needed to make this historic redevelopment happen. We are excited to be the co-developer of this project and thank all of our public and private sector partners for their support,” added Sanford Cloud, Jr., Chairman & CEO of The Cloud Company, LLC.  

The community’s premier location offers households across the income spectrum easy access to Hartford’s employment centers, healthcare, schools, and cultural amenities. Trinity Street Apartments builds on ongoing initiatives to transform the Bushnell South neighborhood into a vibrant, walkable, mixed-use district.

Pennrose purchased the buildings at 18-20 and 30 Trinity Street from the Connecticut Department of Administrative Services (DAS) in January 2025. Haynes Construction Company is serving as general contractor, executing plans developed by architect WRT and civil engineer Bohler, advised by Public Archaeology Laboratory, a historic architecture consultancy. Innova Services Corporation is serving as construction consultant. Pennrose Management Company will serve as the property manager.

Financing for the project includes Federal Low-Income Housing Tax Credits purchased by Key Community Development Corporation, Federal Historic Tax Credits purchased by Key CDC and JP Morgan Chase, Connecticut Historic Tax Credits purchased by Eversource and facilitated by the Massachusetts Housing Investment Corporation. Construction and permanent loans are provided by KeyBank. Other sources include a subordinate loan from the Capital Region Development Authority, an award from the Federal Home Loan Bank of Boston’s Affordable Housing Program, and state sources including Urban Act funds, Department of Housing FLEX Funds, and DECD Brownfields funds.