STAMFORD — Less than a year after the completion of its 66 Summer St. project, Trinity Financial will now focus on the next phase of the Park Square West development project.
The Boston-based developer has received a $51.3 million construction loan from Citizens Bank for the planned 209-unit luxury high-rise apartment building at 1011 Washington Blvd.
The loan was arranged by CBRE Capital Markets’ Debt & Structured Finance team, which also set up the joint venture between Trinity and the Berkshire Group.
“This was a complicated transaction involving many moving parts,” said Mark Fisher, senior vice president of CBRE Capital Markets, in a news release. “However, Trinity is a skilled, patient and experienced multifamily developer and in partnership with Berkshire, was able to pull it all together.”
Thomas Madden, the city’s economic development director, also praised Trinity. “We’re absolutely thrilled with Trinity as a developer,” he said.
The development is Trinity's second project in Stamford. It’s 66 Summer Street building, a $48 million 209-unit apartment complex with 6,800 square feet of retail space, was completed in August.
The new building will include a roof deck lounge with fire pits and private indoor catering area. There will be a game room, children’s playroom and a yoga studio, among other amenities. CLICK TITLE TO CONTINUE
State Awards $891K To Pave Roads In Norwalk
FAIRFIELD COUNTY, Conn. -- The state has released the second of two $30 million installments of Town Aid Road funding for cities and towns across the state -- a total of $60 million statewide, Gov. Dannel P. Malloy announced Monday.
The breakdown of the Town Aid Road grants in Fairfield County includes:
- Bethel, $319,351.99;
- Bridgeport, $1,387,630.22;
- Brookfield, $304,309.32;
- Danbury, $861,734.86;
- Darien, $336,589.86;
- Easton, $227,879.45;
- Fairfield, $712,467.13;
- Greenwich, $747,843.39;
- Monroe, $352,168.36;
- New Canaan, $331,096.67;
- New Fairfield, $276,641.12;
- Newtown, $469,996.05;
- Norwalk, $891,305.92;
- Ridgefield, $379,235.74;
- Redding, $269,265.41;
- Shelton, $501,144.46;
- Sherman, $205,240.25;
- Stamford, $1,213,718.81;
- Stratford, $597,168.09;
- Trumbull, $464,072.04;
- Weston, $251,636.23;
- Westport, $386,467.88;
- Wilton, $315,938.04.
Meriden ZBA approves application for ‘luxury’ apartments on Pomeroy Ave
MERIDEN — An apartment complex proposed for a vacant lot on Pomeroy Avenue has won the approval of the Zoning Board of Appeals.
Attorney Dennis Ceneviva represented the developers, Rockfall Business Park LLC, in seeking a special exception for the 42-unit complex proposed at 105 Pomeroy Ave. The area is in a commercial zone, where multi-family dwellings are allowed with an exception. The exception was approved unanimously Tuesday by the ZBA.
“I think this does look like a very nice project, and it will be nice to see it up there,” said board Chairman Joseph F. Feest.
The 6.1-acre plot was changed from an industrial to a commercial zone last year. Ceneviva said attempts to develop the lot while it was in an industrial zone had been unsuccessful, and the developers said they had tried to sell the land but had gotten nowhere.
“So we came up with this development and we think it’s good,” said Henry Racki, one of the principals of Rockfall Business Park. “It’s all single-family units, so it shouldn’t have any effect on the school system.”
Racki said the group is targeting “empty-nesters and millenials” with the apartments. All the units will be one-bedroom apartments that are fully handicapped-accessible, Racki said.
Elliot Gonzalez, a partner in the development firm, said, “These are going to be luxury apartments. It’s something we’re going to be managing once they’re built, so it’s very close to our hearts. We’re going to put a real nice product out there.” CLICK TITLE TO CONTINUE
ROCKY HILL — More than four years have passed since the approval of a development agreement between the town council and Riverfront Future Partners that promised to transform a long-blighted eyesore along the Connecticut River waterfront into a mixed-use showpiece.
Within months, beginning in early 2012 and continuing fitfully through the year, the former Connecticut Foundry building at 205 Meadow Road and other smaller structures on the property were demolished and the asbestos-laden debris scrubbed and hauled away.
But visible progress then ground to a halt. The grumbling began. Town leaders and residents began to question when and if the River's Edge project — a complex of 78 upscale condominiums, offices and shops, a restaurant, a public park dedicated to former state Rep. Richard D. Tulisano, and a scenic pedestrian walkway along the river bluff — would ever get built.
On Monday night, attorney Michael F. Romano assured town council members that the partnership, headed by New York developer Lenard Thylan, remains committed to the project and that it continues to move forward, albeit slowly, navigating a complex maze of permits and approvals. CLICK TITLE TO CONTINUEJeff Jacobs: No Time To Open The Wallet, But Malloy Must Address XL Center Issue
This is the wrong date and the wrong state for Gov. Dannel P. Malloy to try to push through the $250 million needed to transform the exhausted XL Center into a 21st century sports and entertainment arena.
We get it. Facing a projected $500 million state deficit in the coming fiscal year, proposing $569 million in budget cuts while promising no new taxes and walking around a city that mastered stadium debacles for minor league baseball and soccer … yes, Malloy is trapped worse than Rodney Purvis in the corner when a stagnant UConn offense fails to efficiently rotate the basketball.
Forcing a desperation three-pointer right now could do more damage than good. Politics is a rough game. Dropping that monster quarter-billion dollar game plan into our state's 2016 landscape right now could open up Malloy not only to nasty political defeat, but also do critical damage to the future of UConn athletics. At the same time, when Malloy explains his austere budget plans Wednesday in the Hall of the House, it would be disappointing and wrong-headed if he sent any sort of message that he was distancing himself from the Capital Region Development Authority's $250 million strategy to essentially create a new arena without tearing the entire place down and starting from scratch for twice that amount. CLICK TITLE TO CONTINUE
Yard Goats Stadium Developer And City Focused On Meeting New Opening Day Schedule
HARTFORD — In their first public meeting since it was announced last month that the $56 million minor league ballpark being built on the northern edge of downtown was $10.4 million over budget and behind schedule, members of the city's stadium authority and the developer said they are focused on being ready for opening day on May 31.
That stance was emphasized when discussions about the new construction schedule turned to the monthly report from International Facilities Group, the city's construction manager.
IFG representative Kevin Greene told members of the stadium authority that developer Centerplan Cos. and DoNo Hartford LLC hadn't begun some recent installations as early as they could have, but he added that it shouldn't affect the new substantial completion date of May 17.
"Missing an early start date is bad," Greene told the authority. "You don't want to do it with 105 construction days left."But Jason Rudnick, construction manager for DoNo Hartford LLC, countered that he had utmost confidence in his staff's ability to meet the timetable laid out for completion of the ballpark in time for a May 31 home opener. CLICK TITLE TO CONTINUE
Schaghticoke Tribe Granted to Pursue Development of CT's 3rd Casino
The Schagticoke Tribal Nation announced that the state had granted the authority to pursue the development of a commercial casino in Connecticut, making it the third in the state.
"We view this as a significant economic development opportunity," the STN's announcement said. "Our objective will be to maximize economic opportunity for the residents of Connecticut and to maximize revenue gained by the state."
Confluence of Rivers Tribal Business Entity, LLC is the new name of the business under the STN, of Derby, according to documents.
The tribe said they will begin to pursue the development of a commercial casino in a municipality in Connecticut. CLICK TITLE TO CONTINUE