What is the story about?
What's Happening?
Extra Space Storage has received final approval from Stamford city officials to construct a fourth self-storage building on its 4-acre property. The new 28,404-square-foot, three-story structure will house 522 storage units and be located at 35 Commerce Road. The Planning Board and Zoning Board both unanimously approved the plan, with stipulations including 65 parking spaces and 16 street trees. The property currently includes three buildings with a total of 975 units, and Extra Space Storage operates over 4,099 properties nationwide.
Why It's Important?
The expansion of the Extra Space Storage facility in Stamford reflects the growing demand for self-storage solutions in urban areas. This development could provide increased convenience for residents and businesses needing additional space, potentially boosting local real estate and construction sectors. The approval also highlights the city's support for commercial growth, which may encourage further investments and developments in the area.
What's Next?
With the final approval secured, construction on the new building is expected to commence soon. Extra Space Storage will likely focus on meeting the stipulated requirements, such as parking and landscaping, to ensure compliance with city regulations. The company may also explore marketing strategies to attract new customers to the expanded facility.
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