Thank you for sharing!

Your article was successfully shared with the contacts you provided.

STAMFORD, CT-Earlier this week the Stamford’s Zoning Board and the Board of Representatives granted key approvals that will allow the first phase of the $3-billion Harbor Point project to move forward. While site work has stared on the mixed-use venture that will seek to redevelop the city’s South End district, construction will begin later this summer.

Officials with Harbor Point Development LLC, a partnership of Antares Investment Partners of Greenwich and Building and Land Technology of Norwalk, say the firm will file building permits on July 1 with the city to begin construction on phase one. Harbor Point Development has already filed foundation permits with the city for two office buildings, says John Freeman, vice president and general counsel of Harbor Point.

The first phase of the planned six million-sf development calls for the construction of approximately one million sf consisting of: a residential building of 337 units, including 40 deemed as affordable or workforce housing; a 220,000-sf office building; a 117,000-sf office building; a 250,000-sf hotel/residential building consisting of 114 rooms and 60 condominiums and a 4,500-sf waterfront restaurant building. The office and retail space will be ready for occupancy in 18 months. The condominium units will be finished shortly thereafter, company officials say. The entire Harbor Point project envisions the development of approximately 4,000 housing units.

The Zoning Board granted site plan approval for the first phase of the project, while the city’s Board of Representatives approved a Tax Incremental Financing plan that will allow the establishment of a special tax district that will be able to bond up to $145 million in infrastructure improvements at the 80-acre site that goes from Washington Boulevard to Canal Street. Those bonds will be paid off by a portion of the property taxes paid in the district over 30 years. The first phase of Harbor Point also calls for the development of 11 acres of public parks.

“Harbor Point marks a new era for the City of Stamford,” comments Stamford Mayor Dannel Malloy “We will see a former industrialized area brought into the 21st century with mixed-use commercial, residential and retail along a waterfront that will connect to the rest of the city for the first time.”

Harbor Point’s Freeman terms the city’s approvals as “a huge step forward” for the redevelopment of the South End district, adding, “We will build Harbor Point with an eye toward a sustainable, responsible and bright future for generations to come in Stamford.”

The development has been selected by the US Green Building Council as a pilot member of its Leadership in Energy and Environmental Design Neighborhood Development program. Freeman says that during the life of the project, a total of 15,000 construction jobs will be created and 4,000 permanent jobs once completed.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.