The former University of Connecticut campus in West Hartford has yet another “for sale” sign on its front lawn.
The 58 acre property, located at 1700 and 1800 Asylum Avenue in West Hartford, is currently owned by Ideanomics, a New York based tech company focusing on expanding into the electric vehicle market.
There is no asking price currently for the property, which Ideanomics paid $5.2 million for in 2018.
In late 2017, the UConn Board of Trustees approved the sale of the property to the town of West Hartford. Since then, UConn has played “no role” in the property, UConn spokesperson Stephanie Reitz said.
After first taking it over, Ideanomics planned to create Fintech Village, a $400+ million park with space for Ideanomics offices, community centers, recreational space, art galleries and a wetlands park walkway. Renderings were created and released to the public, but nothing ever came to fruition.
According to reports first made by the Hartford Business Journal, Ideanomics reported to shareholders earlier this year a $98.5 million loss for 2019, and that it would seek to “divest” its plans of the West Hartford property.
In June of this year, the West Hartford Town Council voted unanimously to reevaluate their purchase of the space, giving them first right of refusal to any potential buyer. During the six months, which will be over at the end of 2020, the town of West Hartford will maintain the grounds, which has been the victim of many blight complaints, and lease out the ball fields. Currently, there are only four remaining buildings still standing from the lots UConn days.
Ideanomics did not respond to The Daily Campus for comment on the sale, nor did Colliers International listing agent John Cafasso.