(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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.