What were once movie theaters in Black Rock are now luxury apartments walking distance to the Fairfield Metro train station.
Mayor Joe Ganim on Monday featured on his Facebook Live segment Canfield Park apartments.
Talk about amenities? Swimming pool, fitness center, recreation area, golf simulator, lounge area, pet spa, sun deck, gated parking garage.
A 600-square foot, one-bedroom apartment runs about $1,900 per month; 1,100 square foot, two bedroom $2,900 with multiple pricing options in between.
The project was developed by Spinnaker Real Estate Partners, a large property owner in Bridgeport.
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Sufficient additional tax revenue to exceed additional increased costs of additional pressure and costs on the infrastructure? Or another loss leader for the city rife with “incentives”?
Infrastructure is an already-paid-for fixed cost. All new taxes lower its cost and increase its value going forward.
Is Canfield Park worthwhile?
You bet it is!
Not fixed. Increase incremental depending on increase use. Let’s look at 25 kids and Education costs increase. Let’s say one classroom added to black rock. About 100k in teacher cost. Maybe one more bus. Maybe added run for sanitation or overtime for existing run. Additional inspections, street wear and tear, increased costs for police fire & other.
I ask again
JoSo, you’re allowed to wander from your educational expertise but you still have to make sense.
You are a doom freak — too many what-ifs.
You’re badmouthing a Transit Oriented Development (TOD) that’s endorsed by many politicians. This is upscale gentrification catering to reverse commuters as in “live here, work in NYC”. It’s a new trend. Talk about that.
The upside outweighs the downside. The evidence proves it. The numbers work.
How much revenue Vs expenses? That’s the number that shows worth.
Tax revenues rise
Any expense increase depends on tenants — it’s not fixed.
Put another way, Bridgeport’s gain is guaranteed, Canfield Park’s is not.
Risk cannot be removed but it can be shifted.
Understanding risk is key to understanding TOD.
With all of the amenities at Canfield, are legal expenses for tenants covered in the midst of controversy with owners? Kidding certainly!! Spinnaker already has a longer term and positive relationship with Bridgeport. But what about the thousands of other Bridgeport renters, perhaps those who can only aspire to such units? Before they attended a movie theater that was affordable, while the new units contemplate a development that is necessary for some but certainly not all.
Joe, where is your facebook 15 minute rendering of what Fair Rent and Fair Housing commissions will look like in the future? Time will tell.
BEAUTIFUL, GREAT AMENITIES
Joe Ganim: I would like to introduce you to our City Clerk Lydia Martinez, she also handles all of our Absentee voting for the Mayor’s office and Multi Family Apartments in Black Rock this Primary Day, Tues., Sept. 12th,2023.
Lydia, will be more then happy to help.
Today my husband and I received a letter – postmarked in Westchester, NY so mailed in Bridgeport. It begins:
Dear Black Rock. Homeowner,
Starting with some verbiage and then the point: ….you should be outraged over what Mayor Joe Ganim did with the house he purchased in your neighborhood at 37 Thorne Place.
Then the reasons for outrage:
1) Prior to purchase his brother appealed for a lower tax assessment and prevailed. Taxes lowered from $30,000 to $10,000.
2) Extensive renovations done without applying for a building permit, then the property illegally rented as an AirBnb.
3) Purchase price for 37 Thorne was $340,000. Now valued on Zillow at $1,300,000.
I would have liked to have known who is behind circulating this letter and how one would ever check into the alleged corner cutting like lack of building permits for the renovations and the allegation that the property was rented as an Airbnb. I did check out the tax info and that is correct (rounding numbers) and the valuation on Zillow.
Is our Mayor using his office for personal gain and is that going to make any difference at all in his re-election campaign?
I’m shocked, shocked, to find that gambling is going on here.