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STAMFORD, CT-Now that the project has received a key approval by city agencies, Antares Investment Partners plans to submit a general site plan for Harbor Point, a six-million-sf redevelopment project, in the next few weeks. The project is aimed at revitalizing this city’s struggling South End waterfront district.

Antares officials report that earlier this month Stamford’s Planning Board unanimously approved master plan amendments for the waterfront project.

To be developed by Antares, a real estate and private equity firm with offices in Stamford and Greenwich, Harbor Point is expected to attract $3 billion in new investment to the district that was once a thriving industrial center, company officials say.

The planning board’s action gives the green light to the Stamford Zoning Board to re-designate a number of former industrial sites as mixed-use properties. Antares and its affiliates own the entire 80-acre site earmarked for development. The project site extends over what is now mostly vacant and underutilized property, including the former Yale & Towne property, the Northeast Utilities waterfront site, the manufacturing site of Pitney Bowes and Brewers Yacht Haven, located on the former Luder’s boat yard.

Harbor Point will include approximately 4,000 residential units of which 400 will be developed as affordable housing as well as some retail space. The redevelopment project will also include a public waterfront promenade and several new public parks.

“Through the Harbor Point initiative, Stamford will set a new national standard for urban waterfront development,” says James Cabrera, managing partner for Antares. “We are gratified that city planners concur with the vision of Harbor Point as a master-planned, transit-oriented community offering an array of residential, retail, entertainment and cultural assets. The rebirth of the Stamford waterfront will revive the city’s historic relationship with Long Island Sound and bolster Stamford’s preeminent role as a magnet for new businesses from around the world.”

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