Thomas L. Rich

Thomas L. Rich (born October 22, 1958) is an American real estate developer and philanthropist. Rich is President and CEO of the F. D. Rich Company, a century old diversified real estate company that was founded by his grandfather, Frank D. Rich, Sr., in 1920. He is a lifelong resident of Stamford, Connecticut where he resides with his partner Suzanne Van Nostrand. Rich and Van Nostrand maintain homes in Stamford, CT, Siasconset (Nantucket), MA, and Palm Beach, FL.

Early life and education

Rich was born in Stamford, Connecticut and graduated from Westhill High School, where he served two terms as class president. He is a graduate of Boston University’s School of Management where he served as president of the class of 1980.

Career

Since joining the F. D. Rich Company in 1982, he has participated in the development of close to 10 million square feet of a wide variety of project types spanning the east coast from Florida to Massachusetts. In 1980, Rich’s first solo project was the conversion of a dilapidated rooming house originally constructed in 1870 at 23 Pinckney Street, Beacon Hill, Boston, MA into a luxury condominium project. One of his other early noteworthy Boston projects, on a much larger scale, from 1984 through 1989, includes the assemblage of 3.5 acres, comprised of 16 separate parcels, surrounded by Tremont, Washington, Avery and Boylston Streets and fronting on the Boston Common that was ultimately approved for twin 40-story towers comprising 800,000 SF of hotel, office and retail space to be known as “Commonwealth Center.” Although the property was ultimately developed by Millennium Partners, that project launched by Rich’s pioneering efforts, sparked major redevelopment projects in the Downtown Crossing and Chinatown areas, the saving of the formerly Rich owned (Thomas Lamb designed) Paramount Theatre (Boston) among others and led to the complete eradication of the Combat Zone. Since then, thousands of units of housing, both market rate and “workforce,” along with large amounts of retail, hotel and office space have been added.

In Stamford, Connecticut where the F. D. Rich Company was founded and is still located, Rich has been instrumental in the creation of many large-scale commercial developments including hotels, office buildings, retail establishments and residential complexes. There are very few recent development projects that have been built in the urban core of that City where Rich has not played a pivotal role.

Projects include the twin 25-story, Atlantic Station apartment towers (developed by the Cappelli Organization with RXR Realty) where in the early 2000’s Rich assembled the land and secured project approvals for twin 40-story towers to include 400 Ritz-Carlton branded condominiums and a Ritz-Carlton Hotel. Rich sold his 50% interest in the project in 2008 and the project was ultimately developed as Atlantic Station. Rich’s efforts, as a part of that project, led to the preservation of the 1929 Atlantic Station Post Office building where Rich had arranged its purchase from the US Postal Service.

Rich developed the “ground up” 115 room, Courtyard by Marriott hotel and later acquired options on adjacent land and conceptualized the Residence Inn by Marriott (built by others). F. D. Rich Company sold the Courtyard by Marriott with the plans for the Residence Inn in 2011.

Rich spearheaded the acquisition of the 35-year dormant, four-acre parcel, infamously called the “hole in the ground.” He brought together the development team, secured project approvals and financing, and later sold his interest. His efforts led to the 650-unit apartment project developed by Ironstate Development and Brookfield Properties, called URBY Stamford.

Rich was responsible for other “ground up” development projects including; Summer House Stamford, a 22-story 227-unit luxury rental. completed in 2016 and sold in 2022 and Bedford Hall Apartments, completed in 2016 and sold in 2017.

Rich also developed the 180,000 SF multi-level Stamford Target Superstore and in partnership with the Cappelli Organization, Park Tower Stamford, a 35-story, ultra-luxury, 170-unit condominium tower.

In Norwalk, CT, in 2008, F. D. Rich Company acquired and rehabilitated a collection of historic buildings comprising much of Washington Street in the historic district called South Norwalk, Connecticut|SoNo. That portfolio was sold in late 2019. In 2016, Rich completed the development of the 66- unit, Sono Pearl. which was sold in 2021. In 2019, the “ground up” development of the 102 room Residence Inn by Marriott Norwalk was completed. Finally, Harbourside SoNo, a 129- unit super-luxe apartment community featuring a spectacular rooftop pool was completed in January 2021 and sold in December 2021.

Philanthropy and board affiliations

Rich serves as President of The Rich Foundation, which since its inception has donated over $7.5M to Fairfield County area non-profit organizations involved in the arts, education, healthcare and social services.

Rich has been a member of the Urban Land Institute, the National Trust for Historic Preservation, Regional Plan Association, and the Real Estate Finance Association of CT. He has served on various community boards including the Boys and Girls Club of Stamford, Visiting Nurse and Hospice Care, Stamford Center for the Arts and Stamford Theatre Works. Currently, he is a member of State Street Debating Society, where in 2020 he was elected as their 73rd Man of the Year.

Rich is a past Gala honoree for the Mill River Park Collaborative, Orthopedic Foundation, NAIOP, Avon Theatre Film Center and the American Cancer Society Center|American Cancer Society. He serves as president of the Rich Foundation and recently served for several years on the Board of Trustees at Fairfield, CT's, Sacred Heart University

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