STAMFORD, CT MAY 14, 2017 — The sun is out, flowers are blooming, birds are chirping — and the cranes are swinging. In the City That Works, that’s the surest sign of spring.
While the bulldozers and jackhammers never really stop — a few high-rise skeletons arose from the ground this winter — crews have worked through the warm months to complete apartment buildings, offices and retail developments, with grand openings and ribbon cuttings marking the onset of fall.
It’s an unconventional way to note the turn of seasons, but such is life in a development town. This summer will be no exception, with two long-awaited projects making progress and the ever-growing Harbor Point neighborhood in the South End adding a few points to its skyline.
Downtown, the metal frame of a Residence Inn Marriott will finally take shape after a bankrupt developer abandoned the project two years ago. It’s the last of Seaboard Realty’s Stamford properties to find a buyer following an auction last summer. UC Funds, a city-based investment firm, acquired the $40 million project in April, and promises a completion date by early 2018.
ABOUT UC FUNDS:
UC Funds is a national balance sheet provider of both debt and equity capital solutions, that has closed in excess of $1 billion in real estate investments over the last 36 months. UC Funds provides quick financial solutions throughout the entire capital stack, including joint venture equity. UC Funds is one of the nation’s most entrepreneurial lending institutions, focused on Multifamily, Retail, Office, Hotel, Industrial/Warehouse, Adaptive Reuse and Construction assets nationwide. For more about the UC Funds’ commercial real estate platform, visit (https://ucfunds.com).