$100M Highgrove Project Breaks Ground Next Month

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STAMFORD, CT-Although site work has already commenced on the development, the developer of the $100-million Highgrove luxury condo project here says that an official groundbreaking for the 18-story building will be staged on Sept. 27. Locally based Ceebraid-Signal Corp. and the real estate group of New York City-based Investcorp International are building the 350,000-sf, 95-unit project located at 70 Forest St. at the outskirts of Stamford’s Central Business District.

Last month, Ceebraid-Signal reported that Investcorp had become an equity partner in the Highgrove project. At the time of the deal, both parties did not divulge any financial details on their partnership on the Highgrove development.

Hunter Roberts Construction Group, which has been retained by Ceebraid-Signal to provide preconstruction and construction management services for the Highgrove project, states that construction site work has already begun on the development. The expected completion date for construction is the summer of 2009.

“Ceebraid-Signal is thrilled to announce that construction on Highgrove is under way. This condominium will realize a new standard of luxury living in Stamford and is a representation of Ceebraid-Signal’s strong commitment to providing expertly designed residences in desirable locations,” says Jason Schlesinger, principal of Ceebraid-Signal.

Highgrove, when completed, will feature a combination of two-, three- and four-bedroom condominium units that average 2,558 sf of living space. Among the amenities planned for the development include: private elevator access to each home, wine cellar, 24-hour doorman, concierge, indoor swimming pool with retractable roof, spa and fitness center, private screening room and valet parking.

Ceebraid-Signal officials say a limited number of two-, three-, and four-bedroom condominium residences are available at prices from $1.375 million. Ceebraid-Signal owns approximately 1,000 housing units in Stamford and has built the 500-unit Chesterfield Condominiums on Bedford Street there. The firm is currently seeking approvals on another venture with Investcorp in Fairfield County. The two firms are looking to develop 37 “super luxury” condominiums on the Saugatuck River in Westport. The total cost of that venture is estimated at approximately $45 million with construction expected to begin in late 2008. Ceebraid-Signal, which has a location in Stamford, is headquartered in Freeport, NY and also has an office in West Palm Beach, FL.