Downtown North, as it’s called, is not the most inviting gateway for visitors coming off the Route 25-8 Connector. Once beyond the Cardinal Shehan Center youth sanctuary, a series of abandoned and boarded-up buildings greet arrivals along Main Street. Redevelopment of Downtown North that started under the Finch administration will receive a boost Friday morning when the State Bond Commission is expected to approve a $5 million loan to assist the mixed-use makeover of the Jayson Newfield buildings.
Last January Finch and Urban Green Principal Eric Anderson who redeveloped the old City Trust building into apartments announced the groundbreaking to convert the two historic buildings at Middle and Main Street into 104 apartments and 8,000 square feet of ground floor retail space.
Officials announced the project would be financed by federal Housing and Urban Development funds with support from the state and developer equity. The state loan will be provided at 0.5 percent for forty years with principal deferred, according to Governor Dan Malloy who chairs the Bond Commission.
Economic Development Director David Kooris says activity will now increase in the coming months to revitalize Downtown North buildings. The projected completion date of the Jayson Newfield buildings is December 2017.
(Last year’s video announcement)
The State Bond Commission is slated to approve the following Bridgeport items, according to a news release issued by the city’s legislative delegation, at its meeting Friday morning. Bond Commission agenda.
· $675,000 to provide grant-in-aid to Habitat for Humanity of Coastal Fairfield County to assist with construction of nine single family homes family homes to be sold to homebuyers at or below 80% of area median income
· $1,716,536 for school building improvements
· $83,810 for security systems upgrades for four facilities for Recovery Network of Programs
· $18,800 for Pathways for security system upgrades and front step repair
· $5,000,000 to provide a loan to Block 912 JV, LLC to assist with redevelopment of the Jayson and Newfield buildings
· $2,156,300 to provide a loan to Mutual Housing Association of Southwestern Connecticut, Inc., or another eligible applicant as such term is defined in Section 8-366m of the Connecticut General Statutes, to assist with rehabilitation of 32 units of rental housing at Maplewood Court Apartments
· $750,000 to provide a loan to Future Health Care Systems, Inc. to assist with machinery, equipment and renovations associated with relocation from West Chester, New York to Bridgeport.
State House members Jack Hennessy, Chris Rosario, Steve Stafstrom, Charlie Stallworth, Andre Baker, Ezequiel Santiago and State Senators Marilyn Moore and Ed Gomes made the announcement. All are up for reelection this year.