BRIDGEPORT, CT | Steelpointe Harbor Redevelopment

[Hypothalamus]

A project decades in the making may finally have traction:



Bridgeport's Steel Point Redevelopment Nears Launch
Building Is Set to Begin This Summer on Area's First Anchor

By JOSEPH DE AVILA
April 7, 2014 10:29 p.m. ET

BRIDGEPORT, Conn.—In most cities, the sight of heavy construction vehicles rumbling down the street doesn't merit a second glance. But in Bridgeport's historic Steel Point neighborhood, it signals a sea change for a long-dormant civic dream.

Six Bridgeport mayors have sought to redevelop the 52-acre peninsula on Long Island Sound, named for a steel works that operated there for decades. The city and state combined have spent about $100 million on the venture over the past three decades, but those efforts have been slowed by property disputes, a corruption scandal and three recessions.

Bridgeport officials now say the fortunes of Steel Point will turn this summer when building begins on the area's first anchor, a 150,000-square-foot Bass Pro Shops, which sells boats and outdoor supplies.

The city plans to add other shops, hotels, a public waterfront and up to 2.6 million square feet of housing in a project estimated at $1 billion. To be sure, no deals have been cinched for the other elements, but Mayor Bill Finch said Bass Pro Shops would serve as a catalyst for what he describes as Bridgeport's biggest initiative since the Industrial Revolution.

"It's happening," he said.

Steel Point is wedged between the Pequonnock River and the Yellow Mill Channel with Interstate 95 running along its northern border and the Long Island Sound to the south.

The neighborhood was most recently home to a power plant, marinas, shellfish businesses and about 270 houses. Local legend Jim O'Rourke, a Hall of Fame baseball player credited with stroking the first hit in the history of the National League, once lived there.

Most of the neighborhood disappeared in a wave of eminent-domain acquisitions the city began in the 1990s. All that remains is one shellfish company that will be moved to a another part of Steel Point.

[...]

The decision to use eminent domain preceded Mr. Finch's administration, but he defended the move. "You have to look out for the greater good," he said. When fully built, the city estimates Steel Point homeowners and businesses will contribute $18.5 million in annual tax revenue.

Former Mayor Leonard Paoletta was the first to try to remake Steel Point in the early 1980s, though the project failed to advance for years. One of the biggest setbacks was a scandal involving former Mayor Joseph Ganim, who was convicted in 2003 on 16 charges that included receiving about $500,000 in bribes and kickbacks.

According to federal prosecutors, a group of developers promised to raise $500,000 for Mr. Ganim's anticipated gubernatorial campaign in exchange for allowing them to develop Steel Point. But that deal fell apart when the developers came under the scrutiny of federal law enforcement, and no money ever changed hands.

"People lost their sense of trust in the political community," said Paul Timpanelli, chief executive of the Bridgeport Regional Business Council.

Getting the project started will help change the perception that nothing ever happens in Bridgeport, Mr. Timpanelli added.

"We may have suffered a few delays in getting closer to the goal line because of the political upheaval," said Bob Christoph, founder of RCI Group, a Miami developer tapped by the city to oversee the project. But that turmoil, he added, was "no fault of our own."

Bass Pro is scheduled to open its doors in 2015. The retailer's founder, John Morris, said he wasn't bothered by Steel Point's "struggles in the past" and was attracted to its access to the Long Island Sound and the large population of potential customers who live within 50 miles.

Mr. Christoph said RCI Group had been in discussions with other retailers about coming to Bridgeport. Hilton Worldwide Holdings and Marriott International Inc. MAR +0.34% have also approved hotels for Steel Point, he said. A representative for Hilton declined to comment, and Marriott didn't respond to requests for comment. Independent owner-operators, who would design and run the hotels, haven't signed agreements yet, he said.

The project's final component will include 1,200 to 1,400 homes, an as-yet undecided mix that could include apartments, condos and town homes.

In all, it could take another decade to finish the work at Steel Point, Mr. Christoph said. That is a best-case scenario without additional hiccups or delays, which isn't guaranteed for a real-estate project of this size—or history.

Bridgeport Mayor Bill Finch Kevin Hagen for The Wall Street Journal


Official website: http://www.bldsteelpointe.com/

Site Map:

[Hypothalamus]

Some renderings:

Architect: Form and Place














Bass Pro Shops

[Nexis4Jersey]

Any updates on this project?

[Hypothalamus]

Sums it up nicely:

http://www.ctpost.com/local/article/...nt-5888790.php
Wednesday, November 12, 2014

Starbucks and Chipotle Mexican Grill will be among the first tenants at Steelpointe Harbor.

Dalling Construction, of Stratford, has been chosen to take on the project. The 6,600-square-foot building is scheduled to open next fall.

Christoph said he is negotiating for another tenant on the site, but wouldn't say what that might be.

[...]

Christoph said the foundation for anchor tenant Bass Pro Shops would soon be laid, and vertical construction should begin in the next 45 days.

The 150,000-square-foot store is slated to open next fall. It is to feature an aquarium, restaurant and bowling alley, according to plans submitted to the city.

[...]

This summer, Bridgeport Landing took control of the 12 acres of land to the north of Stratford Avenue that are needed for the construction of Bass Pro Shops and other retail establishments. According to Christoph, the next major step in the project would be redevelopment of the waterfront.

The Miami-based developer said in the next year, residents will see work begin on the bulkhead and dredging of the harbor near the point of the peninsula. The project is expected to include a promenade along the water's edge and a 200-slip marina.

The developer said he is also in negotiations with a movie theater and has several possibilities lined up for hotels on the site. The hotel, retail and parking would likely be located between Pembroke and East Main streets.

The Hilton and Marriott chains have reportedly approved the site for one of their brands.

[Hypothalamus]

[Hypothalamus]

Bass Pro Shop is expected to open this fall -- it's the first building in the entire development.

Bass Pro Shops announces jobs fair

By Frank Juliano
Published 9:18 am, Tuesday, July 14, 2015

Loretta Mercado began work recently as the manager of the 150,000 square-foot outdoor and sporting goods store which is set to open in the fall.

Bass Pro Shops is the anchor tenant in the development that will also include Chipotle, Starbucks and a T-Mobile store. The second phase includes the multi-screen Cinépolis theater, with construction expected to begin next year.

Developer Robert Christoph Sr., principal of Bridgeport Landing Development, has said that, once complete, Steelpointe Harbor will be a 2 million-square-foot super-regional waterfront destination.

The developer said he plans to feature more than 750,000 square feet of retail, restaurants and entertainment space, including the 12-screen premium theater. Two hotels, 1,100 mid-and-high rise residential units, 30,000 square feet of office and a 200-slip, full service, deep water marina are also envisioned for the 82-acre site.

In Bridgeport, $31 million of the $69.5 million cost of building Bass Pro Shops will come from public funds. General obligation bonds will cover $9 million of that total, with $22 million from what are called TIF bonds, short for tax-increment financing. These bonds allow state sales tax generated from the business to cover debt service on the bonds.

[...]

In May:

[scalziand]

Here's a nice project going on across the harbor.


Developer plans $57M mixed-use project in Bridgeport

By Bill Fallon
July 8, 2015

Developer and property owner Westport Property Management has received necessary city approvals and $2 million from the state, which should fund the majority of the cost of environmental remediation at the former Remington Shaver factory site, according to a statement from the city of Bridgeport.

The initial phase of the project would include 200 market-rate apartments and one retail building at the shuttered Remington factory at 60 Main St.

According to the city, Stephen Grathwohl, principal of Westport Property Management, views 60 Main as “the best or one of the best development sites in Fairfield County.”

“This is a market-establishing project,” said David Kooris, the city’s economic development chief. “There are no projects of this scale and ambition in Milford, Stratford, Fairfield or Westport.” He estimated the project’s first phase might be complete in about three years.

“This is yet another illustration that developers are choosing Bridgeport to build their projects, creating jobs and building our tax base and our future,” Mayor Bill Finch said in the city announcement.

“It’s right on the water, it’s right next to Seaside Park, it’s directly adjacent to the University of Bridgeport, it’s within walking distance to the train station and there’s easy access to the highway,” he said. “It’s got a lot of pluses that you can’t find in a lot of sites. We’re very excited and hope to get the project started soon.


A rendering of the proposed mixed-use development at 60 Main St. in Bridgeport.

http://westfaironline.com/72742/deve...in-bridgeport/

[Hypothalamus]

More development for Bridgeport:

Bridgeport to gain 56 new apartments

By Bill Fallon
August 10, 2015

A residential project being developed by Riverbank Landing LLC at 3336 Fairfield Ave. in Bridgeport – originally envisioned as condos before switching to a 56 rental-unit blueprint last year – hosted a progress tour recently attended by developer Arthur Hersch and Bridgeport Mayor Bill Finch.

In granting a tax incentive for the project as rentals in June, the city’s Office of Planning and Economic Development noted the condo market was less favorable than rentals. Hersch at that time said the project had been 11 years in the planning.

Completion is slated for next month and the website Riverbanklandingapartments.com is accepting applications for what it bills as “brand new, spacious one- and two-bedroom luxury apartments.”

The project is linked to the yet-to-be-built Ash Creek Pedestrian Bridge. The state Department of Transportation will fund $3.8 million for a 160-foot steel truss span that will provide greater access for Bridgeporters to the Fairfield Metro-North train station. The money and bridge are part of a local and regional push to bring development closer to transit hubs.

“With a walkway width of 14 feet, the bridge will be a safe and convenient improvement to Bridgeport’s transit-oriented development,” the city said in a statement. No completion date was given.

[...]

Move-ins are expected in September.


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