(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)

STAMFORD, CT-The $50-million Glen View House mixed-use project has received several shots in the arm. The first was the approval by the Stamford Zoning Board and the other was a 15,000-sf lease with Walgreens.

The project, to be built on the corner of Glenrock Road and East Main Street here, is being developed by a locally based partnership of Hannah Real Estate Investors, Paxton and Ray Kinol of Stillwater Investment Partners and Steven Wise of Glen View Partners LLC of Pound Ridge, NY. The development will convert the Suburban Cadillac-Pontiac dealership into 142 housing units. Incorporated into the project will be 14 below market rate units priced at 50% of the median income that will be made available through the city’s affordable housing program.

The Walgreens store will take up the entire retail component company’s first Stamford store. Cory Gubner and Dominick Musilli of GVA Williams represented Walgreens. The store is scheduled to open in early 2008.

Seth G. Weinstein, principal of Hannah Real Estate Investors, says that construction on the overall development could begin by this summer with resident occupancy also scheduled for early 2008. “Glen View House will form the gateway to a revitalized East Side. We have worked closely with the community to design a mixed-use project that will conform to the neighborhood vision.”

Weinstein notes that the partnership has not made a final decision on whether the housing at the project will be rental or condominium. “We’re still looking at the market to determine which way to go.”

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