GOVERNOR ROWLAND UNVEILS HARTFORD’S NEW HOTEL
AND RECOGNIZES FINANCIAL PARTICIPANTS

Hartford – Governor John G. Rowland and the Waterford Group today unveiled the new Hartford Marriott Downtown, and thanked the participating lenders in the $75 million hotel, an integral component of the Adriaen’s Landing development. View Rendering

The Hartford Marriott Downtown is conceived in the historic scale and tradition of a “Grand Hotel”. Serving as an anchor for the new Connecticut Convention Center, the 409-key facility rises 22 stories to create a defining icon on the Hartford skyline. The base of the building is articulated with a limestone colonnade. The storefronts are accented by a series of canvas awnings oriented around the restaurant/bar facilities of the building and open up to enhance and animate the street. The building fenestration is reminiscent of the vertical bays of the Travelers tower creating a traditional rhythm within a modern context. The tower, itself, is capped with a vaulted roof that echoes the form of the convention center’s primary esplanade.

The luxury hotel is backed by an assembly of several financial institutions, each playing a significant role in the Hartford revitalization effort. Representatives from Waterford Group, Connecticut Development Authority, People’s Bank, Banknorth Connecticut, The Hartford Financial Services Group, The Savings Bank of Manchester, the U.S. Department of Housing and Urban Development (HUD), and the City of Hartford were all on hand at the event, underscoring their commitment to the Adriaen’s Landing project and the future of the City of Hartford.

“I am honored to present to you this group of leaders from our fine state. Each of these individuals, and the institutions they represent, has not only provided the funding necessary to bring a project of this kind to fruition. They have reinforced their confidence in the Hartford Marriott Downtown, the Adriaen’s Landing project, and the future of our capital city and the entire state of Connecticut,” said Governor John G. Rowland.

An equity contribution of $22 million has been made by the hotel ownership, Waterford Group, and $2 million from Connecticut Development Authority. The $43 million mortgage will be provided by a consortium of local lenders, including People's Bank as lead lender, Banknorth Connecticut, The Hartford Financial Services Group, Savings Bank of Manchester, and Connecticut Development Authority. A Section 108 Loan will be provided by HUD in the amount of $8.0 million, bringing the total equity and debt financing structure to $75 million.

The Hartford Marriott Downtown, with a projected opening of 2005, will be located on Columbus Boulevard. The 22-story Marriott property will become the largest hotel in Hartford, consisting of 409 guestrooms and 13,500-square feet of meeting space. The hotel is expected to employ more than 200 full and part-time employees. Waterford, in conjunction with architects Brennan Beer Gorman, have designed the hotel to create a destination within the Adriaen’s Landing project, which will include four food and beverage outlets, an indoor pool, and a day spa. A groundbreaking for the hotel, adjacent to the 550,000-square foot Connecticut Convention Center, is slated for 2003.

Waterford Development, Adriaen's Landing master developer, is a subsidiary of Waterford Group, LLC, an industry leader in developing, building, managing, and owning the finest in gaming, hospitality, and convention center properties. Waterford Group will own the Hartford Marriott Downtown, which will be operated by Waterford Hotel Group, Inc. Waterford Management, LLC will manage the Connecticut Convention Center.

Also present at the event were members of The Capital City Economic Development Authority (CCEDA), which is the owner and developer of the Connecticut Convention Center. CCEDA was established in 1998 by the Connecticut General Assembly with the passage of Public Act 98-179. CCEDA is a quasi-public authority charged with directing certain state-supported economic developments in and around Connecticut's capital city.

The Hartford Marriott Downtown is a key component of Adriaen's Landing, a collaborative initiative comprising the State of Connecticut, CCEDA, Capital Properties, and Waterford Development, LLC. Adriaen's Landing is among a series of economic development projects underway in and around Hartford. These projects include, but are not limited to, the so-called "Pillars of Progress" projects.

• 550,000-square foot Connecticut Convention Center superstructure under construction at Adriaen's Landing, scheduled to open in 2005.
• Meeting House Square, featuring 250,000-square feet of retail and 200 apartments at Adriaen's Landing, to begin construction in 2003, and open in 2005.
• G. Fox Renovation - Capital Community College opened its new downtown campus at G. Fox September 4, 2002, bringing 3,500 -students, plus faculty and staff to a signature address downtown.
• Downtown Parking - Morgan Street Garage (2,290 spaces) opened January 17th, 2002, serving businesses, commuters, Riverfront patrons and Capital Community College downtown.
• Riverfront - Riverfront Community Boathouse opened May 2002. Phoenix Gateway pedestrian bridge opened May, 2001. Hartford Riverfront park expansion to north under construction now.
• Rentschler Field Stadium - Over 80% completed and on schedule to open August 2003.
• Downtown Residential - Hartford Civic Center development agreement completed, Capital Properties' agreement completed (including minimum 200 units at Adriaen's Landing), Trumbull on the Park groundbreaking imminent, Sage Allen redevelopment in final planning stages.
• Neighborhood Residential - CCEDA providing funds to second phase of successful Mortson/Putnam Heights project.
• Jobs Funnel - 400+ Hartford residents prepared for construction jobs to date.