Citizens money to help finance first Stamford loft development.

Citizens Bank, a division of Royal Bank of Scotland, announced that it has provided $25 million for construction financing for The Metropolitan located at 1515 Summer Street in Stamford, CT.

The project is being developed by Seth G. Weinstein, principal of Hannah Real Estate Investors, the Stamford based property development and investment company, Paxton and Ray Kinol of Stillwater Investment Management and Summer Partners, LLC.

The Metropolitan will provide Stamford's first urban loft experience by converting an empty 66,000 square foot office building into 39 luxury Condominium Residences. 12 extraordinary brick and stone Town Homes will be built adjacent to the main building. Conversion of under-utilized office buildings to residential uses has been a trend in Manhattan, but The Metropolitan represents one of the very first projects of this kind in Stamford.

"We are grateful to Citizens Bank for providing the financing to bring to Stamford this most sophisticated living experience," said Weinstein. "It is wonderful to have a financial partner that shares our confidence and enthusiasm not only for the project, but also for this market."

Redevelopment of The Metropolitan began in July with condominium occupancy planned for early 2007. This will put The Metropolitan far ahead of the competition in Stamford among planned luxury downtown condominium developments.

The striking, new facade of The Metropolitan will be ultra-modern. The building will be completely resurfaced in soft gray tones and fitted with panoramic windows. Residents and their guests will arrive via a new porte-cochere entry. The modern entrance lobby will feature beautiful blue Florentine glass, metallic-colored ceramic tile walls and ceramic flooring. Amenities will include a luxurious Club Room appointed with modern Italian furnishings and fixtures and a top-of-the-line Fitness Center. A new 2,000 square foot commercial office suite will be offered. Incorporated into the project will be two below-market-rate (BMR) units. These BMR residences will be made available through Stamford's affordable housing program.

Twelve town homes evocative of New York or London will be built adjacent to the main building. Of a quality unparalleled in Stamford, these luxurious residences will come replete with spacious kitchens, first floor parlors and open plan living spaces. The quality, boldness, and sophistication of the condominium apartment finishes will be carried through the interiors of these elegant town homes.

The sales office for The Metropolitan is located at 1500 Summer Street, Stamford, directly across the street from the condominium building. Sales are being handled by the New Homes Division of William Raveis Real Estate and information about The Metropolitan can be obtained by calling 203-940-3908 or by visiting www. stamfordmetropolitan.com.

Prices range from $450,000 to $1.65 million for the penthouse. Town homes begin $700,000's.