Fairfield County Business Journal 111615

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FAIRFIELD COUNTY

BUSINESS JOURNAL November 16, 2015 | VOL. 51, No. 46

5 | SPRUCING UP FOR THE HOLIDAYS

15 | MASTERY-BASED LEARNING westfaironline.com

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS

NATURE, FINE ARTS, AGRICULTURE AND ASTRONOMY TOUCHED 35,000 STUDENTS LAST YEAR BY BILL FALLON bfallon@westfairinc.com

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SMNC MARKS 80YEARS OF ECLECTIC SUCCESS Stamford Museum and Nature Center CEO/Executive Director Melissa Mulrooney. Photo by Bill Fallon

ohn Keats said truth is beauty and beauty is truth and on Friday, June 19, Stamford marks 80 years of getting that simple equation right with a celebration at the Stamford Museum and Nature Center. A person could be forgiven for thinking Keats penned the lines exclusive to the SMNC on Scofield Town Road, which last year attracted 200,000 visitors to its bounty of aesthetics, astronomy, agriculture and old-growth forest. Sixteen of the site’s 118 acres are tilled organically as a working New England farm from about 100 years ago featuring heirloom crops, sheep and cattle. As Stamford’s municipal fine-art home, the SMNC is home to works by Mount Rushmore sculptor Gutzon Borglum and Borglum’s

fellow local sculpture Reuben Nakian, who died in Stamford in 1986. Trails weave through 80 acres of forest and watershed. The cosmos is available through the SMNC observatory’s 22-inch research telescope; Friday nights are for the public. The museum and its administrative offices up the aesthetic quotient by occupying the stone mansion of fashion retailer Henri Bendel. A Reuben Nakian bronze is to the left of the museum’s front door. It is one of many sculptures along the on-site art trail. Melissa Mulrooney, the museum’s executive director and CEO, ticked off museums that count Nakians among their collections, including New York’s Metropolitan Museum of Art. “We’re a very large repository for the works of Gutzon Borglum » SMNC, page 18

Bob Scinto’s quest for pro-growth policy NO ONE IS BUILDING SPEC OFFICE BUILDINGS ANY MORE

BY REECE ALVAREZ ralvarez@westfairinc.com ROBERT D. SCINTO, ONE OF the state’s leading real estate developers and a force in eastern Fairfield County, recently blasted the state’s tax code, saying it has chased business to other states and has helped stall development in the corporate real estate market. “We need to get a bit of growth policy in Connecticut before you see these [rent] numbers come down drastically,” he said. “Right now the tax policies in the state are driving people out of the state.” Scinto, who founded his Shelton-based development company, R.D. Scinto Inc., in 1975, said the commercial real estate market is significantly different than it was after the mid-1980s

and early 1990s, when changes to the tax code affected commercial real estate. “A lot of buildings were not being built for economic reasons, but for tax reasons,” he said of the situation 25 years ago. Now, however, “The demand is good, but there is not any more supply being added. You are not seeing anyone build any spec office buildings today.” Of the 3.4 million square feet across 34 buildings Scinto owns and manages in Fairfield County, less than 1 percent of the space is vacant, he said. Class A corporate buildings are in high demand and if there are vacancies anywhere, it is the class B buildings, which are unsuitable and unable to meet the needs of Class A tenants, he said.

“That is why the rents are still doing well,” Scinto said. “You are not going to see any new buildings built in Connecticut for a long time.” So where are the class B tenants? Look south, way south, said Scinto. “People who tend to have a large amount of capital and start new businesses locate their companies where the tax situation is better, that’s why they are going to Florida, no personal income tax or death tax – Connecticut has both,” he said. He lamented the current economic climate in the state, as he ticked off regional amenities including an idyllic shoreline, access and proximity to New York City and, a point of emphasis » SCINTO, page 6


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