A crowd of real estate professionals, lenders, property owners, and developers gathered at UCONN Stamford Thursday to discuss the changing landscape of downtown Stamford.
“Stamford has demonstrated some leadership when it comes to the dynamics of land use that other communities around us now are beginning to realize that they can learn from,” says Rick Redniss, President of Redniss and Mead.
Redniss was joined on a panel by three residential developers who have broken ground in the downtown area.
“You have two developers that it’s their first time developing downtown and then you have Randy Salvatore who has developed many smaller projects downtown,” says Redniss. “The other two developers are doing larger, multiple hundreds of units of housing.”
Some of those developments can already be seen rising up from the ground on Summer Street and Tresser Boulevard. According to the city’s Downtown Special Services District, 1000 new residential housing units will be built downtown in 2014.
“There’s still a demand for thousands of units of housing and we still have tens of thousands of jobs here, tens of thousands of people who commute in every day so we’ll still be balancing that equation, so we have many more units we can absorb,” says Redniss.
Redniss says bringing more residents downtown will be a positive addition to an already vibrant and growing area.
“I think it’s going to continue to get better. I think we’re going to see some major developments going on n different parts of the downtown that will again keep strengthening all the other aspects of our downtown.”
The conference was hosted by Stamford Downtown Special Services District (DSSD) and the National Assoc. of Industrial & Office Parks (NAIOP).