Project to Convert Chrysler Automobile Dealership Into Beautiful Complex of 112 Luxury Residential Units with 15,000 square feet Commercial/Retail Space


March 21, 2005—Stamford, CT— Seth G. Weinstein, Principal of Hannah Real Estate Investors, the Stamford based real estate development and investment company, today announced plans for his latest collaborative project, East Side Commons. Weinstein has joined with partners Paxton and Ray Kinol of Stillwater Investment Management to develop this project. Located at the corner of East Main Street and Glenbrook Road, East Side Commons will convert the 1.9-acre site of a Chrysler automobile dealership and service facility into a complex of 112 luxury residential units integrated with a ground-level 15,000 square foot commercial/retail space. A Community Retail Module will comprise 10,000 square feet and a Bank Module with drive-through will encompass 5,000 square feet. East Side Commons will continue the dramatic re-vitalization of the neighborhood, extending the transformation that the developers have begun with Glen View House further to the east on the Main Street corridor.

“We are delighted to be working on East Side Commons and to be proposing more luxury living options for Downtown Stamford,” said Mr. Weinstein. “The city is discussing a new Metro-North Railroad Station on the East Side, and this project will contribute to the city’s goal of creating more housing within walking distance of mass transit and downtown amenities.”

The 112 condominiums will offer luxurious one, two and three-bedroom homes. Ten percent, or 11 of the homes, will be affordable for-sale apartments meeting a great need in the community for housing for middle-income workers. Plans for the East Side Commons project have been submitted to the Zoning Board.

Paxton Kinol said, "Given our track record of accomplishment and the level of community support for East Side Commons, we are optimistic about a prompt approval for this wonderful project".

The residents of East Side Commons will have full-sized washer and dryer units, deluxe island kitchens with granite countertops, hardwood floors, gas ovens and raised panel cabinets, and large walk-in closets. Many units will have private balconies. The building will be pre-wired for advanced telecommunications.

Proposed amenities will include a beautifully decorated Club Room, fully equipped Fitness Center with state of the art equipment, and private landscaped gardens.

“Located a short walk from the lobby of East Side Commons are all of the fine dining, cultural and social activities that make Stamford Connecticut's most vibrant urban environment,” said Mr. Weinstein.


ABOUT HANNAH REAL ESTATE INVESTORS

Hannah Real Estate Investors, LLC is led by Seth G. Weinstein. Through his nearly 30-year career in commercial and residential Real Estate Development, Mr. Weinstein has earned a strong regional and national reputation for consistently delivering high quality and profitable projects on challenging sites. He has specialized in complex Brownfield, historic and waterfront properties. Mr. Weinstein has worked closely with community groups to add substantial value to specific sites and jump start neighborhood revitalization. Hannah Real Estate Investors has offices in Stamford, Connecticut and New York City.

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