"I toyed with the idea of retiring and it lasted about two days," Weinstein says. He adds that his mother and father are still working in their early 80s, so therefore he decided, "Fifty-eight is too young to retire."

"Forming Hannah Real Estate Investors is the natural progression of my career," he says. "I'm at the point in my professional and personal life where I can choose to dedicate my time and financial resources to projects that I find interesting. My new firm will afford me the agility and freedom I have always found to be critical in turning opportunity into success."

Hannah Real Estate Investors currently has two projects in progress, both of which are substantially pre-sold. In Stamford, he is helping to develop Mill River House, a luxury condominium development in downtown Stamford. Construction on the $25-million project, located on a brownfield site that was home to an abandoned, automobile dealership, is scheduled to begin next month. The development, which is about 85% preleased, is a joint venture between Hannah Real Estate Investors and Paxton and Ray Kinol of Stamford.

In addition, Weinstein is building Stonington Commons in Stonington, in partnership with Mallory and his former Clearview partners. The $37-million project is transforming an abandoned, waterfront, brownfield historic factory site into a landmark mixed-use community of condominiums, single-family homes and commercial space, including the Stonington Harbor Yacht Club, he says.

Weinstein says his new firm will initially be focused primarily on the Stamford market, although it will be looking for opportunities in Connecticut and the New York metro area. In fact, he says that he expects to sign contracts within the next 30 days on two land purchases in and around Downtown Stamford. Both parcels are brownfields and will be developed as residential housing in the future, he notes.

Weinstein's past experience includes serving as president of Lexington Development Group from 1981 to 1992 during which time he helped develop office, retail and residential development projects in Vermont, Manhattan's East Side, the central business district of Atlanta, as well as locally in Westchester and Fairfield counties. During his time at Clearview Investment Management, the firm redeveloped several Stamford office properties including the Seaview House and Atlantic House. The firm also assembled approximately 17 acres along the Stamford waterfront that Avalon Bay Communities would later develop into 323 luxury apartments. On Greenwich Harbor, Clearview redeveloped the old Greenwich Harbor Inn, and repositioned it as the upscale Delamar Hotel and L'Escale Restaurant.

Instant Insights /

Veteran Developer Launches New Firm in Stamford

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