Two vacant Connecticut offices will become 286 apartments in $120m conversion
Transforming the urban landscape, two idle office buildings in Connecticut are set to be revitalized into vibrant apartments. With a projected budget of $120 million backed by Bank OZK, this redevelopment will introduce 286 loft-style residential units, complete with modern facilities. The project emphasizes the importance of reusing existing properties, offering excellent rail connectivity to…
Two vacant Connecticut office buildings will be converted into 286 apartments, according to a $120 million redevelopment project. The two eight-story buildings, 101 and 201 Merritt 7, are located in the Merritt 7 office park in Norwalk, a suburb of New York City. The apartment complex will feature loft-style units, ranging from studios to two-bedrooms, with an average size of 983 square feet.
Among the 286 units, 26 will be affordable under Norwalk's inclusionary requirements. The project also includes a resort-style amenity area with a swimming pool, dog runs, a putting green, and a bocce court. The buildings, constructed in 1980 and 1982, will be repurposed instead of being torn down. Saber-Hightower LLC and Granoff Real Estate, led by co-founders Marty Berger and Greg Belew, are the developers behind the project.
The properties are supported by a $75.5 million senior construction loan from Bank OZK. The conversion aims to meet the demand for more sophisticated, generously-sized residential spaces in the market.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
