[jjbradleynyc]

Good afternoon all.

I live in Stamford, CT and have noticed how easily developers have it, when demolishing offices, buildings, and other structures for their desired projects.
There are several now-vacant tracts of land in or near downtown that did have "coming soon" signs posted, all of the buildings were bulldozed, and now the land has sat and sat for months--if not years.

Is this simply a case of Stamford's zoning laws/developers' rights being very flexible with the bulldozer--so-to-speak?? I mean, what's the history? I know downtown Stamford has been largely razed over the course of the past 40 or 50 years, to make way for the current "large corporate highrise" presence.

The tract of land at Washington Blvd going south towards UCONN on the west side is one example. Another example is the much, much-delayed (almost defunct) Highgrove project downtown. There's also the infamous "hole in the ground" across from the mall.

It seems like developers/builders can get an idea, draft some plans, get some financing, "rev" up the bulldozers, and *boom* the land can just sit.
What's the story? Thanks.

[JayCT]

Not sure what the story is in Stamford. Sometimes it is just the market conditions or financing. A lot of developers have been hit from both sides with rising financing costs and rising construction costs. Projects are started thinking there is enough money but them is halted when the construciton costs are a LOT higher than expected. Steel price have risen a lot in recent years because China has been taking most of the steel production for its projects. The developers could be just trying to find additional finnancing for their projects. Maybe someone from the Stamford area could comment on the specific project mentions. Jay

[glxyman21]

Don't forget, the owners will pay less in property tax without a building on the land, rather than with it on so they will be quick to demolish, as for why they sit vacant and for how long..well nobody can say for sure..timing? Financing? Markets for properties, tenant fall throughs. etc.