Luxury Residential Community Begins Build in Stamford

Developers are converting a commercial office site into 63 high-end units to meet regional demand for waterfront housing.

Updated on Oct. 28, 2026 in Construction

Luxury Residential Community Begins Build in Stamford

Live Poll

Is converting older commercial office buildings into residential apartments a good idea for your community?

Sun Homes and Hudson Bay Capital have commenced construction on The Caspian, a 63-residence luxury community in Stamford. The project involves the adaptive reuse of a former commercial office building located at 70 Seaview Ave.

Why it matters

The development signals continued institutional investment in the redevelopment of Fairfield County's waterfront, turning former commercial properties into high-end residential assets.

The Caspian project features 63 residences and a 57-slip marina on the site of a repurposed commercial building. Developer Sun Homes has a track record of building over 10,000 homes with a combined portfolio value exceeding $2.6 billion.

The players

Sun Homes

A residential developer with a portfolio of 10,000 homes valued at over $2.6 billion.

Hudson Bay Capital

An institutional investment firm participating in the development of the luxury residential property.

ODA

An architecture firm specializing in modern design and adaptive reuse projects.

The details

The project maintains the original building structural form while installing a modern building envelope to modernize the aesthetic and utility. The design team at ODA is integrating private outdoor spaces into each of the 63 units to cater to luxury buyer demand. This adaptive reuse model allows the developers to leverage existing infrastructure while reorienting the site toward the local waterfront.

October 2026: Construction began at the 70 Seaview Ave. site.
Spring 2027: The developer expects to open the on-site sales gallery.

Market Landscape

The Caspian follows an established pattern of office-to-residential conversion projects aimed at revitalizing southern Fairfield County's waterfront. It marks a departure from traditional ground-up construction by utilizing existing footprints to meet evolving demand for residential space.

Operators in the regional construction and real estate sectors should track the success of this adaptive reuse approach as a model for future commercial building repurposing. Monitor the sales gallery opening in Spring 2027 to gauge buyer interest in luxury waterfront inventory.

The takeaway

Adaptive reuse projects offer a way to repurpose aging commercial office assets into high-margin luxury residential units. Developers and operators should monitor absorption rates in this segment to determine if similar conversions remain viable given current market costs.