STAMFORD — A proposal to convert the 16-story office building at 177 Broad St. into apartments received a positive reception from the city’s Zoning Board this week as developers previewed updated design plans.

RMS Companies and developer Randy Salvatore plan to convert the downtown building into 231 residential units while making minor facade modifications.

“The exterior changes are minor and cosmetic,” said Ray Mazzeo, a planning consultant working with the developers. “It’s trying to give it more of a residential feel at the pedestrian level, warming up some of the ground-floor area.”

Mazzeo said the plans include adding wood-like panels to the structure and installing a new entry and canopy along Broad Street.

Of the 231 units proposed, 168 would be studios. Mazzeo said studio apartments are easier to create when converting office space because of structural constraints, window placement and “light and air requirements.”

“It looks like an excellent project,” Zoning Board Chairman David Stein said. “I’m glad to see that we’re having another conversion of office to multifamily.” 

Zoning Board member William Morris agreed. “It’s a nice looking project,” he added.

The Zoning Board expressed some reservations about the number of studio units, which are not compatible for families. 

“It does serve a need in the market — young professionals, kids trying to get out of their parents' homes,” Mazzeo said.

The developers were confident the units would be leased. 

The new apartment building would have abundant recreational and sports offerings, Mazzeo said. A half basketball court, climbing walls, a racquet court, a golf simulator, billiard tables and a mini bowling alley would be installed. A pool would be built on the roof.

“It’s a really impressive amenity package,” Mazzeo said. 

The structure has been known as the “Indeed Building” due to one of its most prominent former tenants. Indeed, a career-services provider, recently relocated to 200 Elm St. in Stamford. Mazzeo said the building is “already vacant” and the developers were looking to begin construction as soon as possible. It was built in 1985.

RMS Companies purchased the property for $13.1 million in late 2025.

The Zoning Board is expected to hold another discussion on the project at its meeting March 30 and consider traffic and parking issues.

The planned conversion on Broad Street follows an extensive real estate trend across the region, as numerous office buildings are being converted into residential buildings after a major shift in the commercial real estate sector. 

March 15, 2026