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“The numbers are just fantastic," says Clay Fowler, CEO of Norwalk’s Spinnaker Real Estate Partners. Taken together, three of his projects in the county will realize an estimated $203,700 in annual energy savings, for a total of $4.07 million, over a 20-year term.
When the city was developing its TOD plan for South Norwalk, it discovered 12 different zoning districts within a radius of less than a mile. “It was like, ‘What’s the point of this?’” said Norwalk Redevelopment Agency Executive Director Timothy Sheehan.
"The property is currently 99 percent leased, and we expect that the new ownership will build on this solid base of high occupancy and quality management," said CBRE's Jeffrey Dunne.
The former factory town is currently undergoing a resurgence with new investments and developments that are expected to revitalize the growing community.
"Corporations want to be near transportation, which contributes to demand for apartment housing that their workforce wants to be in," said Building and Land Technology COO Ted Ferrarone.
To a crowd of about 230 at the C.V. Rich Mansion in White Plains, the panel of developers discussed trends pushing young professionals to Westchester and Fairfield and the challenges in meeting that demand and creating the type of communities people want to live in.
Located at 111 Morgan St., Element One contains 175 luxury one- and-two-bedroom units.
Located at 111 Morgan St., Element One features 175 luxury one- and two-bedroom apartment homes, as well as loft-style apartments.
The Element One apartment complex on Morgan Street in Stamford is on target for completion by September with steel and wood skeleton of the structure finished earlier this month.