A change in leadership and an influx of new capital have invigorated the Harbor Point development on the Stamford waterfront. As construction gets underway, Building and Land Technology now solely heads the development and both Building and Land and Lubert-Adler provided the expansion capital equity.
Carl Kuehner, III, president and CEO of Building and Land Technology, acknowledged the efforts of Antares Investment Partners and the entire development team in putting the project together. "They," according to Kuehner, "showed great vision in assembling and entitling such an extraordinary piece of ground. Harbor Point incorporates the best in innovative urban design, community planning and technologically advanced environmental design." As partner in charge, Kuehner said that Building and Land Technology has taken the reigns and will make sure "the vision is fully realized".
Stamford Mayor Dannel Malloy stated he was very confident with Building and Land Technology's leadership position of the Harbor Point development. BLT has shown a "strong and consistent commitment" to the city through its recent $200 million worth of purchases and renovations at 120, 260, 292 and 800 Long Ridge Rd. "They know how to get things done,"said Malloy.
The Harbor Point development is comprised of 80 of the 322-acre peninsula south of Stamford's center and I-95. The four-phase, 10-year project will include 4,000 new housing units, 400,000 s/f of retail space, offices and two hotels plus more than 12 acres of new parkland and waterfront trails.
Lubert-Adler is a real estate private equity firm specializing in redevelopments through joint ventures with local operating partners.
A second-generation real estate development company, Norwalk-based Building and Land Technology has completed ventures worth more than $2 billion and currently has over 2.1 million s/f of Class A office space under ownership/ management.