NEWTON, MA – National Development, a Massachusetts-based real estate developer with an expertise in senior housing, has submitted plans to develop a 130-unit senior living community at 201 High Ridge Road in Stamford, the former home of General Electric Capital Corporation.
The 16.5 acre property will be subdivided, and National Development and its investment partner Charles River Realty Investors plan to acquire the northern 10 acres of the site while current owners will retain the southernmost 6.5 acres.
The luxury senior housing community will be named Waterstone at Stamford, joining two existing Waterstones currently in operation in Wellesley and Boston Massachusetts. Waterstone is a joint venture with Epoch Senior Living, an award-winning senior housing operator. National Development and Epoch Senior Living have owned and operated over 40 senior housing developments throughout the region including Bridges at Norwalk and Bridges at Trumbull.
The building, designed by the nationally recognized firm Elkus Manfredi Architects, will include high-end architectural design to provide a welcoming environment for area residents. The site will be transformed from a commercial property to a lush residential aesthetic with new landscaping, extensive gardens, and an upgraded public walking trail adjacent to the property’s open space and conservation area.
Waterstone at Stamford will include approximately 95 independent living and 35 assisted living rental units. Apartments will include designer kitchens, baths, millwork and finishes. Common areas will feature a restaurant-quality dining room, fitness center, pool, clubroom, pub and extensive area for resident activities. Services include meals, housekeeping, transportation and a robust activities schedule.
National Development has begun the permitting process with the City of Stamford; upon receipt of full approvals, the project construction is intended to begin in 2019.