Two developers plan to buy a city-owned property in downtown Stamford for $7.86M and build 55 affordable apartments on it.
Main Street Housing Partners LLC, a joint venture between JHM Development Group of Connecticut and Viking Construction, proposes constructing a 47,800-square-foot apartment building at 41 Main St. It would have 32 units with one bedroom, 15 with two bedrooms and eight with three bedrooms, according to plans filed with the city’s Planning Board.
The developers submitted the proposal in December 2024 after the city sent out a request for proposal to build affordable housing on the 0.38-acre parcel, which contains a vacated Midas auto repair shop.
The city’s Planning Board on Tuesday approved a purchase-and-sale agreement with Main Street Housing Partners. The agreement includes a contingency that the city’s Zoning Commission and building department must approve the project before Main Street Housing buys the property.
The property is appraised at $2.09 million and assessed at $1.46 million.
