Harbor Point gets $145M package - Westfair Communications

An investment bank underwrote $145 million in financing for Harbor Point, a mixed-use development in Stamford led by Building & Land Technology.

The bonds underwritten by Stone & Youngberg L.L.C.”™s include $16 million in Recovery Zone Economic Development Bonds made possible through the American Recovery and Reinvestment Act. Harbor Point was the first project in Connecticut to receive financing through the program.

BLT plans to build 4,000 units of housing, office buildings, two hotels and 400,000 square feet of retail space, along with 11 acres of parkland. Last month, the project won the LEED for Neighborhood Development Gold certification from the U.S. Green Building Council, recognizing its use of green design and principles in building Harbor Point.

“Stone & Youngberg”™s tremendous knowledge and expertise allowed us to secure the financing needed to move this important revitalization project forward to the next phase of construction,” said Carl Kuehner, CEO of BLT. “With this financing in place, we are excited to increase the pace of development at Harbor Point and create jobs during this difficult economy.”