Silverback, Toll Bros. team to develop Stamford multifamily property

Silverback Development and Toll Brothers have partnered for the development of 733-777 Summer St. in Stamford.

The joint venture will oversee development of a $112 million, 373-unit residential rental property. Silverback, which acquired the property in 2016 for $12.4 million, said it has worked closely with the city to convert it from office to residential.

Previously a 92,000-square-foot, 2.75-acre office complex, the site will now be developed as multifamily rental property, consisting of five floors, along with parking and 4,300 square feet of retail at its base.

The property is within an Opportunity Zone.