Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the debt and equity markets, click here.)

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.


Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.