New multifamily development planned for Stamford
Toll Brothers Inc., through its Toll Brothers Apartment Living rental division, is partnering with CrossHarbor Capital Partners to develop 777 Summer, a 355-unit multifamily rental community in Stamford.
The project, which will be the first development of Toll Brothers Apartment Living in Connecticut, is being financed through a $94 million construction loan facility from Capital One as agent and Comerica Bank. The debt was arranged by Toll Brothers”™ in-house Finance Department with JLL advising on the equity financing.
777 Summer will consist of 333 market-rate and 22 affordable units. The project will feature high-end luxury finishes and best-in-class amenities, including a state-of-the-art fitness center, resort-style pool, luxurious club room, game room, co-working space, art studio, roof deck, coffee bar, pet wash, and high-speed property-wide Wi-Fi.
“We are excited for the opportunity to continue our expansion in the robust northeast market with our first multifamily rental community in Connecticut,” said Charles Elliott, president of Toll Brothers Apartment Living. 777 Summer will join a variety of other Toll Brothers Apartment Living projects across the region in bringing the elevated living experience that Toll is well known for to Stamford.”