Connecticut Commits $12M for East Hartford Project

EAST HARTFORD, CT-Outdoor specialty retailer Cabela's will benefit from a host of infrastructure improvements to be funded by the State of Connecticut at United Technology Corp's Rentschler Field here.

Gov. M. Jodi Rell reports that the state will provide up to $12 million in funding for infrastructure work at the 600-Rentschler Field site that will assist in the development of a planned 185,000-sf Cabela's department store that will be built on a 25-acre parcel at the property. The funding package is part of an agreement the state reached with property owner United Technologies Corp. last week.

In connection with the Cabela's project, the board of directors of the Connecticut Development Authority last week approved Cabela's application to initiate the issuance of $9.95 million in State of Connecticut General Obligation Bonds under the state's Tax Incremental Financing program. The approval will help finance the construction of Cabela's proposed destination retail facility at Rentschler Field.

"After years of planning, it's 'all systems go' for the development of Rentschler Field," Rell says. "This agreement with UTC, and the state's investment of millions in infrastructure, will serve as the catalyst for all future development on this key piece of real estate. This is one of the more important economic development projects in Connecticut, one that will create thousands of jobs and serve as an economic driver for the Hartford region."

The agreement between the state and UTC provides a framework for Phase I of the overall development of Rentschler Field. The development is projected to create 4,000 financial services, insurance and technology jobs and 5.75 million sf of new class A office or R&D space at full build-out. UTC has committed to spending millions for infrastructure improvements and agreed to set aside 80 acres for business development, state officials say.

UTC has hired the Matos Group as the master developer for the Rentschler Field project. The site is already home to the Stadium at Rentschler Field, which draws 300,000 people to the site each year. In addition to Cabela's, a new facility for the Connecticut Center for Advanced Technology (CCAT) is also planned. Other proposed developments include high-tech businesses, housing, retail and restaurants, state officials note.

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