Stamford developer pitches waterfront rentals in Waterside
Residential complex would be geared toward younger renters
STAMFORD — With Harbor Point in the South End having become a major destination for young renters, another waterfront neighborhood is now also trying to carve out a similar niche.
A development team known as Belpointe Capital has proposed a plan to construct a five-story 109-unit residential development in Waterside. Like the South End, the neighborhood has gradually shed industrial users over the years. The proposed development involves a roughly 3-acre site at 112 Southfield Ave., which was formerly the home of Marshall’s Trucking.
If approved, the project would join two other residential developments that sit along the West Branch of Stamford Harbor: Avalon on Stamford Harbor, which was built in 2001 and has 323 rental units; and Stamford Landing, a mixed commercial and residential development that was completed in 1987 with 88 condominiums.
The development team is led by Paxton Kinol, a prominent developer based in Greenwich who has built other residential projects in Stamford, including Mill River House, Glenview House, and Eastside Commons. He is currently spearheading the construction of Waypointe, a 10-acre mixed-use redevelopment in downtown Norwalk.
The Zoning Board, which has held two nights of public hearings on the plan, is expected to vote on the project as early as Monday.
Richard Redniss, a land use consultant representing Kinol, called the proposed plan “a great opportunity to create some improvements in the neighborhood that have been long in the coming.”
As part of a request for bonus density, the developer has offered to contribute $800,000 towards upgrading surrounding parks and roads, and to increase the number of affordable units from 8 to 12. Under the city’s zoning regulations, the project is required to have 10 percent of its units be designated as below-market-rate.
Redniss said the project currently calls for the units to be apartments but they can be converted to condominiums if the market changes.
From a broader development perspective, city planners are eyeing the project as providing one of the missing pieces to a roughly half-mile public waterfront walkway between Davenport Street and John Boccuzzi Park. The effort to assemble a contiguous walking path along the West Branch has been more than 10 years in the making because it involves the city gaining easements on privately owned land.
“This has been the missing link,” said Norman Cole, the city’s land use bureau chief.
Last year, the city was prepared to spend $180,000 to build a walkway behind Marshall’s Trucking after it had gained right-of-way rights. But upon learning that the site was to be sold to a developer, who would have an incentive to build the walkway as part of the development, Cole said he halted the project.
The owners of Avalon on the Harbor, which sits directly south of the proposed development, have had a longstanding agreement with the city to build a public walkway on their property that would connect the two properties.
Cole said he believed that project would take place before construction on 112 Southfield Ave. begins.
“It’s an object lesson to planners,” he said of the city’s effort to build the walkway. “If you don’t use condemnation you have to be patient.”