Fairfield County Business Journal 092214

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FAIRFIELD COUNTY

BUSINESS JOURNAL YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com

September 22, 2014 | VOL. 50, No. 38

STAMFORD INC.

FCBJ this week ASK ANDI How to set a price … 7

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TRAINING FOR 500 The WorkPlace has created a new employment platform … 12 HONORED GUEST The Kennedy Center fetes Dorothy Larson … 15 STAYING PUT Morgan Stanley finds only one in 10 would move for lower taxes … 18

MEDIA PARTNER Gov. Dannel Malloy.

RMS rides and guides the Stamford wave HOTELS AND APARTMENTS FUEL CITY’S GROWTH

BY CRYSTAL KANG ckang@westfairinc.com

R

andy Salvatore, founder and president of Stamford-based RMS Cos., is one of the many developers heralding the move toward a “work, play, live” culture in downtown Stamford. Since 2009, he has been buying up real estate and building chic and modern rental housing units and hotels that cater to the young crowd and the hip empty nesters.

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REPURPOSED HISTORY A 150-year-old trolley barn thrives sans trolleys

As Salvatore is poised to start another RMS project, he holds fast to the belief that his economic development projects will be a mainstay in downtown Stamford and continue to attract working professionals, businesses, restaurants and entertainment to the city. “With more people coming to the downtown you have more entertainment options, better restaurants and shows,” Salvatore said. “Stamford has grown by close to 2,000 more people in the past two years, and it’s because you can get a lot

for what you would go to Manhattan for. Your rental costs are 40 percent cheaper in Stamford than in Manhattan.” The newest RMS addition to the downtown will be a $50 million, 122-unit project on Washington Boulevard slated to open in 2015. This is Salvatore’s first mixed-use building project, and it will include retail tenants such as restaurants and a pharmacy. » RMS, page 17


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