STAMFORD, CT-Hannah Real Estate Investors principal Seth G. Weinstein and partners Paxton and Ray Kinol and Summer Partners LLC plan to convert an empty office building into a condominium development called "the Metropolitan." The partnership will convert the 66,000-sf 1515 Summer St. into 44 units. In addition, 12 townhomes will be built adjacent to the main building of the new development.
The cost of development of the project is approximately $26 million, according to a Hannah spokesperson. Construction is expected to begin this fall with occupancy planned for the summer of 2006. Company officials say that the 44 condominiums will consist of 10 one-bedroom units, 32 two-bedroom units and two three-bedroom residences that will be built above three stories of parking. The town homes, which will feature two or three bedrooms, will be built on what is now an empty parking lot on First Street. Prices of the units will be in the mid-$400,000 to $1.5-million range.
Amenities will include a club room, a fitness center, a common-roof terrace and a 2,000-sf commercial office suite. Incorporated into the project will be two below market-rate units that will be made available through the city's affordable housing program, company officials note.
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