2021 Power 25 Real Estate: Carlos Muta

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Carlos Muta doesn’t focus on just one project at a time. A developer from Hartford keeps several irons on fire.

Head of Parkville Management, Muta has been investing in the city since the late 1980s, starting with apartments – which remain in the spotlight – and eventually moving into commercial real estate, mostly in the Parkville area.

Mouta’s portfolio of refurbished and repurposed properties includes Pope Commons, 360 Main, the Hartford Design Center and the Lofts Design Center. He owns over 200 apartments, mostly in Parkville, and is working to add more.

Muta opened his sprawling $ 5.1 million Parkville Market food hall on Park Street about a year ago in the midst of the COVID-19 pandemic, after Gov. Ned Lamont eased indoor food restrictions. Muta said it has been breaking even in the market for a while, but now with warm weather and vaccines, it has become noticeably more active, the Metropolitan Development Authority said this spring.

Mouta is currently working on a second phase for the 30,000-square-foot market, which should include a beer hall, play area, rooftop event space and other amenities.

PHOTO | ADDITIONALLY

The expansion of the Parkville market in Hartford is one economic development project that is slated to receive federal aid funding.

Mayor Luke Bronin signaled in May that he would like to use about $ 4 million in federal stimulus money to support expansion, calling the market “one of the greatest success stories of the past year.”

While working on his restaurant facility, Muta is also building the funding needed to rebuild 237 Hamilton St., a factory building that was once home to the Whitney Manufacturing Co.

Muta, who acquired the property for $ 3.2 million in early 2019, plans 187 apartments with retail and restaurant space on the ground floor.

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