RIVEROAK FORMS JV FOR DEVELOPMENT OF WATERVIEW EAST CONDOS
NORWALK, CONN. — Stamford, Conn.-based RiverOak Investment Corp. has formed a joint venture with RMS Construction for the development of Waterview East, a $15.4 million residential condominium project located at 142-144 East Ave. in Norwalk. Construction will consist of two four-story buildings that will contain a total of 36 units and two 2,700-square-foot commercial spaces. The buildings will be situated on a 2.53-acre site, and will contain 72 parking spaces. Groundbreaking has occurred for the project. Waterview East marks the third investment for RiverOak Fund IV, the company’s $26 million value-added real estate fund.