RXR Realty is set to move ahead with the second phase of Atlantic Station in downtown Stamford, Connecticut after securing a $97.5 million construction loan. The 26-story mixed-use project is located at 355 Atlantic Street and 405 Atlantic Street, just a short walk from Stamford Transportation Center.
The first phase, completed by January 2018, comprised 325 rental units, 16,000 square feet of retail, and 321 parking spaces. The second phase will bring an additional 325 units, 48,000 square feet of retail, and a 534-vehicle parking garage. The amenities package includes a fitness center, a resident lounge, an outdoor landscaped terrace, and an elevated swimming pool deck.
The retail component has already been pre-leased to child development center The Learning Experience, collaborative workspace Work Well Win, and dog daycare center Dogtopia.
Commercial Observer reported Bank OZK will be providing the floating-rate loan for the second phase. It was arranged by JLL, which also arranged the financing for the first phase, a $103 million permanent loan provided by ULLICO.
No details have been released on a start date or a completion date.