Over the past 13 years, the South End of Stamford, Conn., a 322-acre peninsula on Long Island Sound, has gained more than 4,000 new rental apartments, most in fancy high-rises. Part of a master-planned, mixed-use development called Harbor Point, the apartments have helped inject new energy into an area formerly pocked with decaying industrial sites and brownfields.
Aakash Patel, 27, moved from his 400-square-foot studio in Manhattan into a one-bedroom apartment in Harbor Point’s newest apartment building, Opus, last September. Mr. Patel, the vice president of a venture capital firm, said he’d searched for a larger apartment in New York, but ultimately decided it wasn’t worth the price since he was working from home several days a week.
weren’t moving back,” he said. “It became apparent there wasn’t as much of a social or professional edge for me to be in Manhattan proper.”
23-unit condominium now under construction on Washington Boulevard will provide homeownership opportunities for households at or below 50 percent of the area median income. (For a four-member household, the income limit is $75,900.) The project incorporates the restoration of a historic, three-family Victorian farmhouse. Sixteen units are already reserved, at prices ranging from $240,000 to $310,000, said Joan Carty, chief executive of the Housing Development Fund, the nonprofit developer.