City of Stamford 12/3/19: The City of Stamford's Office of Economic Development released its third-quarter of 2019 economic development report today. The report features commercial leases and building sales that occurred during the quarter, data on the Stamford residential housing market, current development projects, an update on the city's employment, with highlights on the prosperous growth of Stamford's consumer goods and products sector, and on the successes of Stamford-based Fortune #379 company United Rentals.
"Stamford saw numerous signs of positive growth during the third quarter of 2019. Substantial development plans coupled with numerous corporate relocations are highlights of Stamford’s bright future.
The most notable commercial leases this quarter was Sema4 taking up 125.5k SF of space, one for a brand new 67k SF genomics lab and a nearly 60k SF expansion at their 333 Ludlow St headquarters. Additionally, two new companies have relocated to Stamford, both of them in the consumer goods industry and both at 1 Dock Street.
Two brand-new luxury apartment buildings are set to come online before the end of the year: Allure at Harbor Point with 435 units, and URBY Stamford with 464 units. Currently, there are over 5,400 apartment units and over 900,000 SF of commercial office in development throughout Stamford.
Employment activity has been very positive for Stamford, with the current unemployment rate of 3.1%, down from 3.6% last year. Stamford’s labor force grew by nearly 900 people when compared to last year to 71,918."