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Frequently Asked Questions
410 ASYLUM STREET
HARTFORD, CT

• What is the proposed program at 410 Asylum Street?
  Common Ground proposes to rehabilitate 410 Asylum Street into approximately 100 units of mixed income housing for working people and the formerly homeless together with ground floor retail. One-half of the units would be reserved for those now homeless or at-risk of homelessness, and half for working people of limited means, including artists, entry level workers, and others interested in living close to downtown businesses and arts and cultural institutions. To be eligible, prospective tenants must have incomes below 50% of the area median income, which is $25,500 for single adults in 2003. The building will include ground floor commercial tenants and services for the residents. Common Ground will fully restore this historic landmark according to the specifications of the National Parks Service.
  
  We will partner with Chrysalis, Inc., a Hartford based social service provider to provide social services to the residents. These services are limited to only the residents of the facility.

• Will the project require zoning relief?
  Yes. The building is in the B-1 Downtown Development District zone which requires 1.25 parking spaces per residential unit. Since most of our tenants will not own a car and are dependent on public transportation, we are seeking a variance for this requirement. Further, St. Patrick's and St. Anthony's will offer us dedicated parking spaces for those tenants who have automobiles.
  
  In addition, because the project involves changing the use of the building from office/retail to residential/retail, application for a special permit is required.

• Who will be tenants of the retail space?
  In keeping with the development efforts of downtown, we are marketing our space to established restaurateurs or to a hybrid coffee/ice cream retail store. This use would require most the ground floor space. The 5 individual sites along High Street would be marketed to smaller business or could be merged into larger space, depending on the demands of the commercial market. Since the ground floor space will need to be fit-up we will propose that the tenant will defer rent, equal to the cost of the fit up.

• How will you finance the project?
  Based on preliminary estimates, total development costs will be approximately $15,500,000. The project will be financed through CHFA's Supportive Housing Pilots Initiative, which includes the following sources of financing :
  • Low Income Housing Tax Credit program,
  • HOME financing and the;
  • CHFA low-interest debt financing.
  The PILOTS program is a special set-aside of credits and debt for supportive housing. This means that Common Ground will not be competing for the same resources that other efforts, such as the revitalization of Dutch Point, will require.
  
  In addition, we will pursue the Federal Home Loan Bank's Affordable Housing Program fund Federal Historic Rehabilitation Tax Credit program for additional project capital.
  
  Our social services will be financed through the State Department of Mental Health and Addition Services and operating funding for the very low income tenants will be provided by the Department of Social Services in the form of Section 8.

• Will you pay taxes?
  Yes. Since the project rents are low, the building will generate limited revenue. Accordingly, we are seeking a partial tax abatement and propose to pay $70,000 per year, which equals $700 per unit per year. According our research, this amount is on high end of the other supportive housing projects in the State.

• What will you do if you have disruptive tenants?
  Using aggressive property management and the services providers, we will intervene to see if the problem can be cured. If the problem is not corrected after reasonable efforts, the tenant will be evicted.

• Have you communicated with your immediate neighbors and other developers in the area?
  Yes. We have had supportive conversations with Northland, the developers of the Civic Centre and with David Nyberg, the developer of 55 Trumbull Street, the former SNET building. We have also met with the owners of Hot Tomatoes, Ann Howard at the Bond and Tuesday's clothing store. We have also presented to the Downtown Business Council and have been in close contact with its staff.