Hartford. focus on. Capital Gains. Hartford is revitalizing its status as the gateway to New England

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1 focus on Hartford Capital Gains Hartford is revitalizing its status as the gateway to New England by Bob Woods the state capitol Bushnell Park provides a lovely and inviting contrast to the grand architecture of the building (1878). I think this is the best built and the handsomest town I have ever seen, wrote the well-traveled Mark Twain of Hartford a few years before moving to the city in 1871 and building a whimsical mansion on Farmington Avenue. The famously mustachioed man of letters must have taken great comfort in Connecticut s capital, for it was here that he produced some of his best works. ALL PHOTOGRAPHY: KAREN O MAXFIELD US AIRWAYS Attaché J ANUARY

2 GOINGS ON Hartford is a gold mine of history, arts, and culture. The area offers a wide variety of sights, sounds, and tastes that mix the past with the present. A RICHNESS OF ITS HISTORY, DIVERSITY OF ITS CULTURE, AND THE STRENGTH OF ITS PEOPLE Festival of Lights on Constitution Plaza The Amistad is a favorite spot for tourists A volunteer for the Hartford Blooms project Atrium at the Goodwin Hotel A RICHNESS OF ITS HISTORY, DIVERSITY OF ITS CULTURE, AND THE STRENGTH OF ITS PEOPLE C A P I T A L G A I N S Hartford, like Twain s inimitable writings, has since withstood the test of time and remains inspiring and entertaining, as well as sturdy and handsome. Today, in the spirit of Tom Sawyer s fence-painting exploits, the city is getting a fresh coat of rejuvenation. Everywhere you look, from the ambitious Adriaen s Landing building project downtown to the new season of Broadway plays at The Bushnell, Hartford is teeming with life. We really are in the throes of a renaissance, says Harry H. Freeman, Executive Director of the city s Economic Development Commission. What seems to be the key to Hartford s rebirth is that its deep roots as a Northeast commercial, manufacturing and cultural center never really died. They withered some as the city s economy struggled along with that of other industrial hubs in the mid 20th century, but Hartford s infrastructure stayed intact. So while the addition of a convention center and a college football stadium certainly strengthens its core, making people aware of what s already in and around Hartford is driving much of the revitalization effort. The robin is Connecticut s official state bird, though the crane of the construction variety might as well be Hartford s nowadays. Besides Adriaen s Landing, featuring the largest convention facility between New York and Boston, a 400-room Marriott hotel and a residential, retail and entertainment district, other downtown projects include sprucing up the Connecticut river front and the relocation of Capital Community College. New housing developments are sprouting up in the surrounding towns, and ever-growing Bradley International ART FOR ALL stegosaurus sculpture Airport recently opened a new terminal and concourse. All this activity naturally creates more jobs. The improvements at Capital Community College exemplify ongoing enhancements of the region s so-called Knowledge Corridor, which stretches north to Springfield, Massachusetts. It comprises 32 higher-education institutions, among them the University of Hartford and Trinity College, and serves more than 120,000 students. There are educational programs to promote work-force development, marketing ventures to attract certain industries and a united boost to tourism under the Knowledge Corridor umbrella. Universities, colleges, and medical centers play larger and larger roles in the civic life outside their institutions, says University of Hartford President Walter Harrison. After work and school, there are abundant playtime opportunities in Hartford, too. We have an amazing diversity of quality cultural activities here, says Ken Kahn, Executive Director of the Greater Hartford Arts Council. He points to art at the Burr Mall Downtown Wadsworth Atheneum, plays at the Hartford Stage, films at Trinity College, and music of every variety at venues citywide. The Arts Council is one of 10 local organizations collaborating on the Hartford Image Project, implemented two years ago to raise awareness of the region s offerings among residents and visitors. I guess we ll call it eclectic, Twain once remarked in trying to describe his odd manse on Farmington Avenue. He could easily use the same word to characterize present-day Hartford. greater hartford is an entertainment, meetings & conventions, travel, and business center HARTFORD. one smart move. HARTFORD SMART FACTS #1 in gross domestic product per capita in the world #2 in labor productivity in the world #3 in readiness for the knowledge based new economy in the nation #5 in attracting venture capital in the nation top 6% of North American regions for the arts M E T R O smart for business. smart for life. A place of genius is what some are calling us. Where the pioneers and innovators of the past are joined with the highly educated and productive workforce of today. All in one region. METRO HARTFORD. the next move is yours. For more information, jshemo@metrohartford.com or call , ext. 284 today. Ask for John Shemo, Vice President and Director of Economic Development, MetroHartford Alliance. 60 US AIRWAYS Attaché J ANUARY 2004

3 BIZ NOTES Doings Downtown ❶ Hartford, Connecticut s bustling Capital City is the economic cultural anchor of southern New England. ❷ Hartford is building an entirely new array of facilities, amenities, and attractions at the stunning Connecticut river front. ❸ Hartford s new 550,000-squarefoot Connecticut Convention Center is scheduled to open in ❹ Adriaen s Landing, Hartford s new river front convention destination will include shops, restaurants, and entertainment in the heart of an authentic New England downtown. ❺ Hartford's restaurants sizzle with authentic ambiance and diverse cuisine, including American, Irish, Brazilian, Afghan, Cajun, Italian, French, Puerto Rican, Portuguese, Pan-Asian, Mediterranean, Middle Eastern, Vietnamese, and West Indian. ❻ Hartford's downtown and suburban corporate campuses are home to diverse businesses and industries. Financial services, aerospace and precision manufacturing, information technology, distribution and logistics, and health and medical industries are all thriving here. Playing the Blues a Holmes Brother HARTFORD / NEW ENGLAND S RISING STAR E C O N O M I C Feet on the Street: a City s Renaissance by Leonard Felson D E V E L O P M E N T In many ways, Hartford, Connecticut, 10 years ago even a few years ago resembled many old industrial Northern cities whose economic base had long moved South, offshore or become victim to the corporate takeovers of the late 80s and early 90s. And yet civic leaders never stopped talking about ways to reinvigorate a city that at the turn of the last century was one of the most robust centers of commerce in the United States. Study after study was commissioned. Ambitious projects were proposed. Nothing got done. Until now. Hartford s time has finally arrived as more than $2 billion in new developments are underway or about to break ground throughout this 800-square-mile, southern New England metropolitan region of more than 850,000. (Hartford itself, Connecticut s capital, is a compact city of 18.5 square miles with 122,000 population.) The most dramatic project along the banks of the Connecticut River is Adriaen s Landing (named for a Dutch explorer). It s the centerpiece of a state initiative led by Connecticut s Gov. John G. Rowland who pushed lawmakers to invest $770 million into a massive downtown development strategy. Scheduled to open next year, it will include a convention center, hotel, and a new urban neighborhood of street-level shops, restaurants, and apartments, all designed to put feet on the street, as one urban designer put it and create a more vibrant center city. But that only scratches the surface of Hartford s economic revitalization. About 1,000 more downtown apartment units in various stages of construction or planning are scheduled to open over the next few years. A new community college campus with more than 3,000 students opened on Main Street in 2002 in a restored art-deco building, known locally as the G. Fox Building, which once was the department store to shop. Across the Connecticut River in East Hartford, a new 40,000-seat football stadium opened last summer for the University of Connecticut Huskies. It also played host to two sold-out Bruce Springsteen concerts last fall. Fifteen miles north, Bradley International Airport has expanded with a $200 million state-of-the-art terminal to accommodate growing passenger and cargo traffic. Why all the new interest in Hartford? Adriaen s Landing and the state s financial commitment partly explain why other private developers are investing in new projects, as they sense new opportunities in a region of the Northeast where older buildings and land are a relative bargain. Another reason is that a twodecades long effort to restore access to the Connecticut River, blocked for decades by a flood-control dike and I-91, has finally come to fruition with promenades, parks, an amphitheater for concerts, and a plaza that connects the river front to downtown. As a result, the nearly $60 million spent so far on river front projects have not only recaptured a natural and cultural asset once literally the gateway to the city but they ve also given acres of nearby land, used as parking lots, new value as waterfront property, and developers are rushing to capitalize on it. Designed by George Keller, the Soldiers and Sailors Memorial Arch was the first and largest Civil War monument built in the U.S. If you believe that happiness is a way of traveling through life, Have we got an airport for you. Bradley International. The convenient gateway to New England. BDL Located minutes from Hartford, Connecticut and Springfield, Massachusetts, Bradley offers a new kind of air travel experience. Convenient. Stress-free. And easily accessible to many destinations. Bradley lands you right in the heart of New England, with everything you need for business or vacation travel within easy reach. So before you fly into Logan or LaGuardia, consider Bradley. And take it easy on yourself US AIRWAYS Attaché J ANUARY 2004

4 HARTFORD / NEW ENGLAND S RISING STAR E C O N O M I C D E V E L O P M E N T E C O N O M I C D E V E L O P M E N T Mark Twain Days Celebration Free concerts, a frog-jumping contest, a Wild West Show, and a weekend of fun each July celebrate Hartford s favorite literary son. The city s economic development commission was revamped two years ago to be more business-friendly and to help streamline approval procedures at city hall. Each of the past two years, the Hartford Economic Development Commission has visited more than 2,000 businesses and about 150 new businesses have opened over that period. They include everything from new kitchen-design centers to light-industrial factories; new restaurants and bars, even a hip, new women s-high-fashion shop called Fiona Stone behind the historic Goodwin Hotel that looks more like something out of New York s Soho. It s right down the street from a trendy panini-and-wine bistro called bin228 downtown. Last year, McKinnon s Irish Pub opened across from the Hartford Civic Center, a hulking nearly empty mall downtown that s about to be razed. In its place will rise a 32-story luxury apartment tower with new shops, restaurants and a fitness center. I m investing in the future of Hartford, says the pub s gutsy owner, Matthew McKinnon Corey, a 40-year-old window cleaner of the city s skyscrapers. Like several other entrepreneurs, he s betting that once Hartford is transformed into a 7-day-a-week, 24-hour city his pub will become a thriving business and favorite stop for new city dwellers. That kind of outlook is a sea change in this region that was hit hard by the recession of the 90s, not to mention changing economic forces over the past several decades. People had really given up on the city, says Freeman. Now people see the cranes in the sky and say They re really doing it this time. Firms are calling us. To cite a few key examples, Cigna, the health care and financial-services company with a large presence in the suburbs, has moved 900 employees downtown. Also, Travelers Property Casualty, based in Hartford, underwent a $35-million renovation of one of its office buildings downtown and will be merging with the St. Paul Companies. Indeed, with a strategic location almost equidistant to New York and Boston, at the intersection of two major interstate highways, 20 minutes from a major airport and within access of 100-million customers within a 500-mile radius, metropolitan Hartford is quietly becoming an attractive new address in which to do business. Just in the past year, for example, TJX Companies, Inc., the corporate parent of T.J. Maxx and Marshalls, broke ground on a 400,000-square-foot, $70-million distribution center in the northwestern suburb of Bloomfield. Across the street, Pepperidge Farms opened a new 265,000-squarefoot bakery and distribution center. In neighboring Windsor, just north of Hartford, Acumentrics, a fuel-cell maker, is moving into a new hi-tech-factory space. In Windsor Locks, next to Bradley airport, Ford Motor Co., is opening a $10-million regional parts-distribution center. And in suburbs throughout metro Hartford, several real estate and development firms, including Griffin Land, one of the largest landholders in Connecticut, the New Boston Fund, and Casle Corp., are preparing so-called shovel-ready sites that already have been granted all necessary permits so prospective tenants can get fasttrack service and be in new buildings within months. There s a new confidence here, says Sandra B. Johnson, vice president and business-development officer for the MetroHartford Alliance, a regional economic-development organization that works closely with city business leaders as well as municipal officials in the 34 other towns surrounding the capital. A dozen years ago, metro Hartford didn t even have a regional economic-development organization like Johnson s, a vestige of New England s independent everytown-for-itself mentality that no longer works effectively in a global economy. Which is another reason why the region is on the move, says Fred Carstensen, director of the Connecticut Center for Economic Analysis. To be a competitive player in a The Colt Firearms Factory The dome atop the Colt Firearms Factory is one of the most recognizable landmarks in Hartford s skyline. Colt s manufacturing facility opened in 1855 and is being renovated into 300 loft apartments. We Could Tell You Stories. artford, Connecticut has always liked a good story. After all, Mark Twain penned Tom Sawyer and Adventures of Huckleberry Finn while residing in Hartford. And Harriet Beecher Stowe, who wrote Uncle Tom s Cabin, also lived in Hartford. Of course, all of this was possible thanks to Noah Webster who compiled America s first dictionary, and whose childhood home is located in West Hartford. These fascinating homes are open to the public for exploring chapters of historic fun. The fact is, Greater Hartford is America s home for literature, art and history. And if we may brag, we think we did an extraordinary job in creating the first written Constitution. Call For A Free Vacation Book Write Your Ticket To A Great Getaway!

5 E C O N O M I C D E V E L O P M E N T ARTS ALIVE The Bushnell The Bushnell is Connecticut s premier performing-arts center, hosting more than 500 events a year to an annual audience of more than 600,000 people. The Bushnell is the performance home of: Hartford Symphony Orchestra Dance Connecticut Connecticut Opera The Connecticut Forum Three-quarters of The Bushnell's yearly bookable dates are utilized by local arts and community productions. The Bushnell provides leadership and technical assistance to community and arts organizations, as well as rental discounts of more than $350,000 annually. In 2001, The Bushnell completed a $45 million expansion project that added a second, 907-seat theater to the existing historic structure along with a great hall, expanded meeting and reception spaces, and a gift shop and cafe. SOUTH GREEN NEIGHBORHOOD DINING IN B USHNELL PARK 66 US AIRWAYS Attaché J ANUARY 2004 global economy, the region has to work as one unit, he says. Indeed, he notes, when you add Springfield, Mass., just 30 minutes north of Hartford to the economic metro region, the population grows to about 1.6 million, and that gets you on the radar screen of relocation-site consultants. Take, for example, the recent relationship Hartford had with Cirque du Soleil, the Montreal-based circus company that performs across the globe. Last summer, for the first time it chose Hartford for a two-week run that extended into three weeks. It nearly sold out each performance with ticket sales second highest for any new market in North America. One of the reasons the company chose Hartford was because it saw a market of actually 1.8 million people, not just including Springfield, but adding the New Haven, Connecticut Metro area as well, just 45 minutes south of Hartford. It also saw something else many national retailers already know: its demographics and high per capita income levels are similar to other strong markets like New York, Los Angeles, Chicago, and Atlanta. Hartford boosters always touted what they said were under-appreciated gems and resources. But whether it was Yankee reserve or its inferiority complex in the shadow of New York and Boston, that message never went far, even among residents who live here. That too is changing, thanks to a two-year-old marketing campaign called Hartford: New England s Rising Star. For the first time in the region s history, all 10 agencies involved in the region s revitalization are speaking with one voice and brand. And the tag FESTIVALS & ART festival of trees line is beginning to catch the attention of company site selectors who are often for the first time giving Hartford a look. Besides national brand names like those that are based here, such as ESPN, Aetna, United Technologies, and The Hartford, many businesses are appreciating not only the city s strategic location, but also its proximity to great leisure activities: two hours from some of the best skiing on the East Coast; an hour from the shore, close enough to Boston and New York. They re also recognizing that its manageable size can be an asset with commutes below the national average; affordable housing in leafy suburbs and quaint New England villages that are all close together. But civic boosters will be the first to tell you that Hartford itself boasts a surprising amount of arts and cultural offerings for any city big or small. Places Rated Almanac ranked metro Hartford in the top 10 percent of North American cities for the quality or quantity of its arts and culture. That includes everything from the Wadsworth Atheneum Hartford Symphony to the Wadsworth Atheneum Museum of Art, the Tony-award winning Hartford Stage Company and The Mark Twain House and Museum. With the region s financial-services and insurance companies as strong as they ve ever been in recent years, manufacturing growing more efficient, Fred Carstensen says, Compared to where we were five years ago, Hartford looks much healthier. Peter Gioia, another economist with the Connecticut Business and Industry Association, adds, We ve got construction cranes going up for the first time in a long time. That s a bird that almost looked extinct. places rated almanac lists hartford in the top ten percent of american cities for its arts and culture 2003 The Hartford Financial Services Group, Inc. DO YOUR RETIREMENT PLANS MAKE YOU FEEL LIKE THIS? OR THIS?

6 HARTFORD / NEW ENGLAND S RISING STAR R E A L E S T A T E R E A L E S T A T E Constitution Plaza The nation s first written constitution was drawn up in Hartford in This plaza was the result of a major renovation push downtown. Return of the Crane by Leonard Felson With more than a dozen residential and commercial real-estate projects underway or about to break ground, Hartford is on the brink of a real-estate boom. As more people move downtown, urban experts say, new commercial development will follow, and that in turn could spur more residential growth. What spurred the rush to develop? In part, it was a $700-million investment by Connecticut officials who put their weight behind construction of Adriaen s Landing, a complex that includes a convention center, Marriott hotel and new urban neighborhood of shops, restaurants, and apartments. It also was the near completion of a pedestrian-friendly river front that for the first time in 60 years links the city to the Connecticut River. And, say real-estate developers, it s the fact that there s been so little construction in this southern New England city for so many years, that there s strong demand for downtown housing that caters to young professionals and empty nesters who enjoy being close to work and the vast array of culture here. But the development is not limited to Hartford itself, an area of only 18.5 square miles with a population of 122,000. Indeed, new real-estate projects both commercial and residential extend throughout the metro region of close to one-million people in about 800 square miles. Last fall, the first new apartment building, 55 On The Park, opened, renting quickly. The excitement is incredible, says Fran DeMaio of New Haven, Connecticut based College Street, LLC, which developed the project. Among those renting the oneand two-bedroom units were state employees who work nearby, lawyers from nearby downtown high-rises, and empty nesters from the suburbs. A 12-story former Southern New England Telephone Co. building that faces Bushnell Park, the new 124-unit apartments features 16-foot ceil- ings, granite kitchen and bathroom countertops and stunning views. It also offers something else hard to come by in cities like Boston and New York: much lower rents ranging from $815 to $2,045. Those rates what the market commands here normally would discourage most developers from even considering Hartford, but through state funding and the use of tax credits in this case, credits for preserving an historic art deco building developers are finding ways to make the math work. Less than a block away, also facing Bushnell Park, a nine-story 88-unit apartment building called Trumbull Centre is under construction. Occupancy is scheduled for next year. Bounded by the Lewis Street historic district, the project also includes the restoration of about a dozen other existing apartments in three residential buildings that date from the 19th and early 20th centuries. Street-level shops and a restaurant will open into an outdoor pocket cafe facing the park, all features that Greenberg recommended to inject new energy into downtown and put feet on the street, as one urban planner describes one of Greenberg s goals. That concept already is paying dividends elsewhere. The art-deco G. Fox building, a former 300,000-square-foot Main Street department store, opened in 2002 as a renovated downtown campus for Capital Community College. Today, more than 3,000 students walk through its doors, and into nearby shops and restaurants. Another former Main Street department-store building, the Sage-Allen, is about to be renovated as well, but into a 125-unit apartment complex that will include units for graduate students and corporate interns as well as market-rate housing for the general public. Yet those projects alone don t begin to describe the kind of transformation that Hartford is poised to realize in the next few years. At the corner of Trumbull and Asylum streets, arguably the heart of the city, Boston-based Northland Investment Corp., Trinity College and The Learning Corridor Next door to the Trinity Campus are 4 public schools on 16 acres who opened their doors in September 2000, a centerpiece of community revitalization. AND A ROLLS ROYCE IS JUST A CAR. 68 US AIRWAYS Attaché J ANUARY 2004 Welcome to Hartford s only true luxury hotel. An uncommon blend of turn-of-the-century ambience, modern conveniences and a downtown location just steps from everything that s important to you. For the discriminating traveler, there s simply no place else to stay. One Haynes Street Hartford, CT US AIRWAYS Attaché J ANUARY

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ACCOUNTING TAX CONSULTING MANAGEMENT CONSULTING WEALTH MANAGEMENT ESTATE PLANNING DID YOU KNOW? ❶ Hartford s Old State House is the oldest state house in America. ❷ The Bulkeley Bridge, completed in 1905, is the largest stone-arch bridge in the world. ❸ The Hartford Courant is the oldest continually published newspaper in America. ❹ The first children's magazine was published in 1789 in Hartford, under the title The Children's Magazine. ❺ In 1791, the first law book containing the federal laws of the country was published in Hartford. ❻ The first author to submit a typewritten manuscript to a publisher was then-hartfordresident Mark Twain. ❼ The Wadsworth Atheneum is America's oldest public art museum. vision plus energy Mark Twain made his home in Hartford, and once remarked, I think this is the best-built and the handsomest town I have ever seen. will soon begin work on one of the cornerstones of a $700-million state-sponsored strategy to revitalize downtown, the transformation of the aging Hartford Civic Center Mall, a bunker-like structure that failed as a retail draw. Instead, Northland is razing the structure and creating what it bills as a 24-hour neighborhood of apartments, shops, restaurants, and public spaces called Town Square. It includes a 36-story tower of 262 luxury apartments, 24-hour security, parking, an indoor swimming pool, and a health club. A mix of specialty grocers, cafes and bakeries, boutiques, and restaurants will fill 56,000 square feet along Trumbull and Asylum streets, and another 93,000 square feet of office space will be available as well. This is a tower that would stand out in Boston or New York, says Northland CEO Larry Gottesdiener, because in our opinion that s what people want here. Closer to the river front and walking distance to Adriaen s Landing, work is about to begin on Front Street, a 7.4 acre project by New York based Capital Properties. Intended to create a new urban neighborhood, it will include at least 200 residential units in five- or six-story buildings, with retail space, including restaurants and grocers on street level. The project includes a small plaza to accommodate musicians and other street life, wide sidewalks and outdoor dining, as well as 1,100 parking spaces in two garages that will be tucked away behind restaurants and other buildings. Richard Cohen, the president of Capital Properties has already invested more than $100 million in nearby Constitution Plaza, a 1960s-era office complex that ironically was created where the city s original Front Street stood. Just south of downtown, Homes for America Holdings, a Yonkers, New York based specialist in rehabilitating neglected properties is converting more than 750,000 square feet of the former Colt Firearms factory into more than 300 loft apartments and 300,000 square feet of commercial space. Called Colt Gateway, the $110- million project, which is being built with materials meant to evoke 1905 the apex of Colt s industrial might is also being considered by Congress as a national park that would be showcased in two museums on the site. That would also make the spot a tourist destination, advocates of the park plan say. Big real-estate projects aren t all that s new in the city. A new initiative from City Hall is pushing an increase in homeownership from 25 percent, the second lowest in the United States, to 30 percent over the next five years. And another program is encouraging new investments in neighborhoods. Besides new hotels being developed in Hartford, national chains are building new hotels throughout the region in part to accommodate the demand for rooms once the Connecticut Convention Center is built. And yet there s still more; West Hartford s center, the trendiest place in the region, according to one architect, is set to nearly double the amount of commercial and residential property, if town officials approve a development called Blue Back Square, named after native son Noah Webster s first dictionary. It would include more than 200,000 square feet of shops, restaurants and a Cineplex, 72,000 square feet of offices above the shops, and 100 luxury apartments also atop the retail. In Bloomfield, to Hartford s northwest, Cigna, the nationally known employee benefits company, is developing a championship golf course, 150 singlefamily homes, 260 apartments, 200 of which would be luxury units, a 275-room hotel and conference center, 2-million square feet of office space, and several restaurants as part of a 600-acre redevelopment project, called Gillette Ridge. And 10 miles east of Hartford in South Windsor, developers are at work on Evergreen Walk, a so-called lifestyle center, which will include 14 stores occupying 285,000 square feet. For more information on Greater Hartford, visit hartford.com. Hartford Image Project partners are dedicated to expanding the Greater Hartford area as a center for travel, arts, business, and meetings. four stars AVON OLD FARMS HOTEL THE SIMSBURY INN THE FARMINGTON INN SIMSBURY 1820 HOUSE Avon Old Farms Hotel The Simsbury Inn The Farmington Inn Simsbury 1820 House Four distinguished hotels shine above the competition in Connecticut. Classic Hotels of Connecticut blends history and hospitality, art and antiques, character and charm, service and serenity to provide guests with a higher level of luxury and comfort. 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