If the board grants its approval, the firm must then obtain building permits before construction on the 310,000 sf project could begin. The development will feature two buildings that will range from two stories to nine stories in height. A total of 266 market-rate apartments will be erected, Collins notes.
Collins says that although the project has not received a financing commitment as yet, he is confident that sufficient financing will be obtained in the near future. He estimates that construction will begin by April or May of this year.
Collins also reveals that in the second quarter, the firm will begin construction on a 75,000-sf office building on Harbor Drive in Stamford, CT. The building has already received all the necessary approvals from the city, with the exception of building permits, he says.
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