Governor Ned Lamont and Mayor Joe Ganim on Friday joined developers Gary Flocco and Geof Ravenstine to launch the next phase of the Cherry Street Lofts, a mixed-use West End revitalization that has built out so far more than 150 units of housing and opening of Great Oaks Charter School.
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In December of last year, the State Bonding Commission approved $3.77 million in USRAP Program funding for Phase III’s brownfield cleanup. The investigation, remediation, and abatement of contaminants from the environment is critical for the next phases of development. These include building much-needed supermarket and retail space, estimated to create an additional 250 permanent jobs in the community. The project will also provide for more affordable housing at this critical juncture.
Getting Phase III underway means creating jobs, growth in the economy, and providing transit-oriented affordable housing for a new generation of Bridgeport residents. The Cherry Street Lofts project is transforming Bridgeport’s West End, continuing to convert old industrial buildings into new apartments and retail opportunities. The project is powered by a recently installed 440kw fuel cell that produces less costly renewable energy. This results in a neighborhood that is becoming more resilient, improving the environment, and lowering tenant utility costs by taking itself off the grid.
Phase I of the project saw the construction of 157 residential units for families earning between 50% and 70% of the (AMI) area median income, and the completion and opening of the 725 student Great Oaks Charter School.
The residential project has had an overwhelming response with over 9,500 inquiries and has established a waiting list of over 400 people with daily inquiries continuing. With this level of demand, further development has enormous momentum.
Developers Gary Flocco and Geof Ravenstine.: All that our team has accomplished is a testament to the ongoing support, engagement, and leadership of Governor Lamont and our community leaders. We are committed to the revival of the West End and are grateful to have their support.
Governor Ned Lamont: “This project is a key component of revitalizing the West End into a neighborhood that is vibrant, supports the growth of new business and jobs, and is a place where people want to live and work,” Governor Ned Lamont said. “I am proud that the state can support Bridgeport and its future growth through this important project.”
Mayor Joe Ganim: “It is satisfying to see the continued benefits of this project grow and accrue over time. We are cleaning up in the West End, and improving our I 95 skylines as visitors enter the city.”
City Council President Aidee Nieves: “This commencement is another great milestone in a story of a revitalized West End. We are proud to continue supporting the work being done here to build Bridgeport better than before.”
Rep. Steve Stafstrom: “It’s hard to fathom just how far this neighborhood has come in a few short years, with lots of economic promise in view. This partnership between public and private interests is a model for positive development in this city.”
Rep. Antonio Felipe: “This project is bringing quality housing, good schools, and clean renewable energy to Bridgeport residents who need it. Bridgeport wins when we invest in projects that attract new residents while cutting costs for our current residents.”
Rep. Chris Rosario: “This cleanup will make this space safer for families, as well as create many business opportunities for local residents. I want to thank Governor Lamont for his ongoing support of this project that is transforming Bridgeport’s West End.”