Local developer F.D. Rich Company has secured $91 million in construction financing for a new multifamily project in downtown Stamford, Connecticut. The development, known as Coastline at 130 Broad Street, will feature 198 units and is scheduled for completion by summer 2027.
Bank OZK provided the majority of the funding with a $59 million senior loan, while the Real Estate Credits Solutions platform of 3650 Capital supplied $32 million in mezzanine financing. No broker was named in connection with the financing deal.
The 13-story building will primarily offer market-rate apartments but will also include 17 affordable units. Plans call for 4,500 square feet of retail space on the ground floor and a three-level parking garage. Amenities for residents are set to include a pool, outdoor lounge, dog run and spa, fitness center, children’s play area, event space, conference rooms and a bocce ball court.
In discussing the project’s prospects, Jonathan Roth, co-founder of 3650 Capital, cited limited new supply in the submarket along with population growth and strong household incomes as supporting factors.
“Downtown Stamford offers a favorable environment for this property to capture demand from young professionals and commuters seeking quality rental housing, superior amenities and transit connectivity,” said F.D. Rich president Thomas Rich.
F.D. Rich Company has operated for over one hundred years under family leadership since its founding. The company’s previous developments in Fairfield County include the Courtyard by Marriott hotel with 115 rooms; Park Tower Stamford condominium—formerly Trump Parc Stamford—at 35 stories and 170 units; Summer House Stamford apartments at 22 stories with 228 units; and Harbourside SoNo rental complex comprising 129 units.
Bank OZK is based in Arkansas and frequently lends to real estate projects nationwide. Earlier this year it issued a $182 million loan to help finance another major mixed-use development phase in Tampa’s Ybor City district (https://commercialobserver.com/2025/02/bank-ozk-gasworx-tampa-florida-construction-loan/).
