[JayCT]

Oakwood Park, the massive mixed use redevelopment of the former UConn campus in West Hartford has begun its likely long and contentious approval process. So far three nights of hearings have been held for wetlands review but these are only for the eastern half of the site. The western half, where the former UConn buildings are located is more contentious so the developers decided to split the site review in half with Trout Brook Drive dividing line.

https://www.courant.com/2023/12/15/v...s-likely-soon/

[JayCT]

So it was Luke Bronin’s last week as Mayor, so it’s appropriate that there was a ceremony marking the start of Phase 2 of the city’s North Crossing redevelopment. Over 500 apartments along with retail will be constructed across from Dunkin Stadium north of I-84. It won’t be long before the empty land that has plagued the area for decades is covered with a beautiful new neighborhood. Finally!!!

https://www.ctinsider.com/capitalreg...t-18570257.php

[JayCT]

An $11 million 95,000 square foot sports bubble called the Day Hill Dome has opened in Windsor. It is attracting sports tournaments from Maine to Maryland. 3,000 showed up on the first day and 2,000 on the second day. Great to see.

https://www.courant.com/2023/12/22/c...a1ZntOYxNerhe8

[JayCT]

Aetna’s new President, Brian Kane has given Hartford a great New Years present, he publicly announced Aetna has no plans for further layoffs and that he is committed to Aetna staying in Hartford. And this is despite the fact that he hasn’t been able to find a new home in greater Hartford’s super competitive real estate market. He has temporarily moved his wife, Anna and 9 month old son and their dog into a condo in Wesr Hartford.

Aetna now requires its employees to be in the office three days a week. He is also committed to bringing back many of the office amenities to make work more pleasant and to restore the company’s headquarters in Hartford including its wonderful 100 year old Hartford built Austin Organ. Sounds great to me.

https://www.hartfordbusiness.com/art...lans-for-aetna

[bushewick]

Originally Posted by JayCT

Aetna’s new President, Brian Kane has given Hartford a great New Years present, he publicly announced Aetna has no plans for further layoffs and that he is committed to Aetna staying in Hartford. And this is despite the fact that he hasn’t been able to find a new home in greater Hartford’s super competitive real estate market. He has temporarily moved his wife, Anna and 9 month old son and their dog into a condo in Wesr Hartford.

Aetna now requires its employees to be in the office three days a week. He is also committed to bringing back many of the office amenities to make work more pleasant and to restore the company’s headquarters in Hartford including its wonderful 100 year old Hartford built Austin Organ. Sounds great to me.

https://www.hartfordbusiness.com/art...lans-for-aetna

take that, Mark Bertolini!

[brownedbits]

Originally Posted by JayCT

Aetna’s new President, Brian Kane has given Hartford a great New Years present, he publicly announced Aetna has no plans for further layoffs and that he is committed to Aetna staying in Hartford. And this is despite the fact that he hasn’t been able to find a new home in greater Hartford’s super competitive real estate market. He has temporarily moved his wife, Anna and 9 month old son and their dog into a condo in Wesr Hartford.

Aetna now requires its employees to be in the office three days a week. He is also committed to bringing back many of the office amenities to make work more pleasant and to restore the company’s headquarters in Hartford including its wonderful 100 year old Hartford built Austin Organ. Sounds great to me.

https://www.hartfordbusiness.com/art...lans-for-aetna

A good fried of mine is an executive at CVS and they say otherwise. Word on the street is Aetna/CVS does not plan to stay in Hartford once their promised amount of time expires on that building.

[Johnho771]

Originally Posted by brownedbits

A good fried of mine is an executive at CVS and they say otherwise. Word on the street is Aetna/CVS does not plan to stay in Hartford once their promised amount of time expires on that building.

Any word where they would go? Somewhere else in Hartford area?

[JayCT]

Originally Posted by brownedbits

A good fried of mine is an executive at CVS and they say otherwise. Word on the street is Aetna/CVS does not plan to stay in Hartford once their promised amount of time expires on that building.

That is a rumor that has gone around since the day CVS bought Aetna. I’m not sure why.

Who do you believe, the public statement of Aetna’s President or a lot of no name people spreading baseless rumors. I’ll choose the President.

[mdovell]

Originally Posted by JayCT

That is a rumor that has gone around since the day CVS bought Aetna. I’m not sure why.

Who do you believe, the public statement of Aetna’s President or a lot of no name people spreading baseless rumors. I’ll choose the President.

Generally speaking if there are tax incentives for a business they cut and run when they run out. I have seen this happen time and again. This is not to suggest they are a bad corporate citizen, far from it. But I have also seen and been in the middle of companies that had spinoffs, layoffs and mergers. Presidents of companies can say things but they can also be replaced. Ownership is control and frankly most presidents don't own most of the company (with voting shares).

Well because drug stores themselves are not doing that well. In Early December 2017 they made the announcement to buy out Aetna the stock was at 75, it's now at 80, 6% rise in about six years.

67% of CVS's revenue is from its pharmacy division and that itself is really more of a convivence store material. It's retail and frankly there is just less of a reason to be there. Yes the store brands are nice, I get that but most prescriptions are by mail now and they don't get into lottery or tobacco anymore. It's not a news stand and walmart and target can be cheaper. It is better than Dollar General but what is that really saying? At least it isn't Temu.

Aetna is one of the most pro work from home companies in the country, even well before covid. I know we are all trying to say everything is back to the office but 20% of urban commercial properties are empty on average in any city. Hartford is 30%. I get the idea of having things in an office as I worked at one that had a store, great cafeteria, gym, onsite daycare, dry cleaning etc. but those day are gone.

[BobNJ1960]

Originally Posted by mdovell

Generally speaking if there are tax incentives for a business they cut and run when they run out. I have seen this happen time and again. This is not to suggest they are a bad corporate citizen, far from it. But I have also seen and been in the middle of companies that had spinoffs, layoffs and mergers. Presidents of companies can say things but they can also be replaced. Ownership is control and frankly most presidents don't own most of the company (with voting shares).

.

The exceptions in Ct are when a new set of long-term incentives runs right after the first one is to end. The time to secure it is years before the present deal ends, btw. Other states know when it ends, and are, no doubt, making their proposals already.