City of Hartford Awards Construction Contract to Andaleeb Enterprises LLC (April 2024)
City of HartfordCity · Hartford, CT- Disclosed value
- $30,400,000 (projected total development cost); $1.00 ground lease payment; PILOT payments per schedule
- From agenda
- Approved
- Apr 4, 2024
- Renews
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THE 30-SECOND BRIEF
The City of Hartford approved a 49-year ground lease and development agreement with Andaleeb Enterprises, LLC for a $30.4 million mixed-use construction project at 614 Albany Avenue and 88 Magnolia Street. The agreement features structured PILOT payments and community benefit hiring requirements.
Andaleeb Enterprises LLC holds this construction contract with City of Hartford.
The renewal date is on record. A free account shows it, with the renewals for every City of Hartford contract.
Contract details
- Contract type
- Construction
- Amount
- $30,400,000 (projected total development cost); $1.00 ground lease payment; PILOT payments per schedule
- Document date
- April 4, 2024
- Term
- 49-year ground lease with extension or acquisition option; due diligence period (9 months + possible 9-month extension); PILOT: No payment 3 yrs, increasing percentages through year 15, then 8.5% of gross revenues
- Renews
- Free account
- Vendor
- Andaleeb Enterprises LLC
- Agency
- City of Hartford
- Source document
- city_council_planning_economic_development_and_hou.pdf (Agenda)
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Questions about this contract
Who was awarded the construction contract by City of Hartford?
Andaleeb Enterprises LLC was awarded this construction contract by City of Hartford, as recorded on April 4, 2024. The contract value is $30,400,000 (projected total development cost); $1.00 ground lease payment; PILOT payments per schedule.
How much is the Andaleeb Enterprises LLC contract with City of Hartford worth?
The Andaleeb Enterprises LLC contract with City of Hartford is valued at $30,400,000 (projected total development cost); $1.00 ground lease payment; PILOT payments per schedule, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city_council_planning_economic_development_and_hou.pdf (Agenda), dated April 4, 2024 from City of Hartford. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Andaleeb Enterprises LLC hold?
Andaleeb Enterprises LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Hartford currently buying?
Explore City of Hartford's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.