Standing in the east end of Seaside Park, sandwiched by the campus of the University of Bridgeport and a vacant industrial building, Governor Dan Malloy and Mayor Bill Finch on Wednesday joined state and city officials to announce a $2 million loan to remediate a 12-acre parcel including the old Remington Shaver site in the South End into 200 housing units, and a marina, overlooking Long Island Sound.
Malloy used the site to announce a total of $27 million in grants and loans to clean up 20 brownfield sites in Connecticut. The brownfield money for the city is to further the stalled, first-proposed $500 million development by Westport Property Management for a mixed-use waterfront plan announced years ago for south Main Street during the John Fabrizi mayoral years. The economic crash in 2008 forced developers to step back from initial plans, but officials say the market conditions are now correct to move ahead with the first phase of the development, including 200 units and waterfront access.
In April the state announced $200,000 in funding to begin the clean up process. Bridgeport development chief David Kooris says the housing along the waterfront with spectacular views of Long Island Sound is “unprecedented for Bridgeport.” He expects the developer to break ground early in 2015 for the 200 market-rate units. Initial plans called for 1,200 housing units.
Calling brownfield remediation in Bridgeport commonsense funding to revitalize property, Malloy announced “Many of Connecticut’s brownfield sites have been abandoned or underutilized for decades because the costs of redeveloping these properties are too expensive for municipalities or private developers to take on by themselves. That’s why my administration has not only allocated the funding necessary to return dozens of unused and blighted properties in every corner of the state to productive reuse, but also taken significant steps to attract private investment and increase participation in our brownfield programs.”
“Governor Malloy is giving us an opportunity to turn this rundown property into a new mixed-use residential development that will include hundreds of apartments, commercial space, and public waterfront access,” says Finch. “He’s helping Bridgeport become a place where more companies want to invest and hire people, and where more families want to live and work.”
With Malloy in the midst of a reelection campaign, Finch added, “Thank you governor, we won’t forget that.”
State Senator Andres Ayala, who helped lobby the remediation funding, told reporters of the planned housing units, “The front yard is Seaside Park, the back yard Long Island Sound. This is about Bridgeport’s renaissance … steadily we’re making that happen.”
In addition to the Remington Shaver site, the state announced for Bridgeport:
• Bridgeport – 1136-1162 Main Street: $1,000,000 loan to 1136-1162 Main Street Managers (POKO/Spinnaker) for the remediation and revitalization of a 0.8 acre parcel in the downtown historic district for mixed use, mixed-income redevelopment; the project includes 50 residential units.
• Bridgeport – Bhagya Realty Holdings: $1,176,300 loan to remediate and redevelop a 3 acre parcel to be repurposed for 156 residential units, retail and a charter school.
Isn’t it the best day near the beach? The sun is out, money is available for planning, for remediation, for loans and revitalization … and it is for housing … so “more companies will want to invest and hire people, and where more people will want to live and work.” I get the living and housing, but where are the company investment and the jobs?
Will people be able to live in market-rate units without more jobs? And are the grants and loans or other awards from the State enough to make these viable and profitable to investors without further subsidy? You know I am asking whether any form of tax abatements are contemplated or requested on one or more of these projects. (That is a known factor at this time, I would suggest, or else the State vetting of such projects would be very loose or lax, and would not look favorable in an election campaign.)
And while Malloy is attempting to score points with this hoopla and real money, does it worry anyone else Finch is not saying what each of the contemplated developments will do to increase the taxable grand list in terms of annual taxes payable? Does $30 Million worth of new housing equate to $21 Million of assessment and at 42 mils equal nearly $900,000 per year of new taxes or something less? That is the real question for Bridgeport taxpayers when they go to assess the leadership that has led Bridgeport to where it is today. Time will tell.
Of course it will require tax breaks. Why else would suburban millionaires invest in Bridgeport if they are not guaranteed they cannot lose a dime?
Was this one of the parcels Fabrizi and Hardly had suggested as home for a 50-story condo project? How’s that working out?
And it will be just a hop, skip and jump to the new train station on the city’s East Side.
Bob, are you kidding. With all your years on the council, can you really be that misinformed?
The 50-story condo you talk about was proposed by the owners of the tract of land where Conti’s was or is located. It was an attempt to stall what is now being proposed for the second time for the Remington Shaver site. I know for a fact Nancy Hadley was not in favor of this 50-story condo you write about.
Bob, perhaps you have heard already but the ECD committee of the Council met this week and raised enough questions about additional OPED proposed tax abatements, they ended up tabling them. It is sometimes difficult to tell when a troll is using wild sarcasm from when he is merely spouting gentler hyperbole.
However, since you are familiar with tax breaks offered to developers, will you provide some guidelines for when, how, and how much is wise for Bridgeport Council persons to consider? They have had no training and little if any experience on the subject. Share your wisdom please. There is a chance it may be considered with serious regard. Time will tell.
I can offer my suggestions but the city never bought into them back when I was on the council so why would anyone now?
1) Although the city likes to refer to developers as development partners I always proposed full partnership. So if a developer comes in and says I need a tax break, make them prove it with hard numbers and if they overestimate construction costs then they refund the difference by reducing the tax break. If they underestimate the revenue then they refund the additional revenue by reducing the tax break.
2) When they apply for a tax break of ten years the city would share in any profits from the sales in full or partial sale for the length of the tax break plus an additional 10 years.
3) The city is always saying we are land poor so we should not be giving any tax breaks on projects that are four stories or less. Why reward for urban sprawl?
4) No tax breaks for residential projects that do not include a set-aside for truly affordable housing.
5) No tax breaks for condominium developments.
Just to name a few.
Thank you, Bob. Perhaps the times are a-changin’. But the smarter ideas available today or at other times are not getting to the people responsible for voting today.
If you look at both the BOE and the CC, we no longer see the 6-3 or 20-1 counts that were so common recently. Need to fuel our Council with alternatives not provided to their deliberations by the administration.
Your voice of experience counts. Thank you again. Time will tell.
Bob Walsh, you are correct. This was part of the parcel where a 50-story upscale high rise was proposed as well as two smaller buildings as well as having Ferry access that would have gone from Bridgeport to Stamford and express to New York. The Conti’s property was to be a six-ish story condominium built on top of a garage. Of course there was also a luxury high rise proposed for the Curtis Mansion site. It became an urgent issue to demolish the Curtis Mansion. What a travesty. I remember protesting the demolition. Now that is a parcel that should have been incorporated into the University and turned into an administration building. Did U.B. own that building?
Anyway, today’s announcement will enhance the University of Bridgeport and show more positive development in the South End. Also pleased money given to create more downtown housing.
Kudos to Senator Andres Ayalas, Mayor Finch and Dan Malloy. Keep the money coming!
Stevie Boy,
We will celebrate the completion of this project by buying you a bottle of champagne right next door at the Kingsman Pub. There will be plenty of bubbly to go around!!!
Didn’t the Kingsmen Pub burn down years ago?
How pathetic is this really when you think about it? Finch has to resurrect a Fabrizi idea in order to try to claim he is doing economic development. So sad.
It’s about crossing the finish line, no? Steelepointe was Len Paoletta’s idea. OK so on another front, Fabrizi almost had a real homerun with the Magic Johnson project across the street from the Arena and Harbor Yard. Now that was some plan and we had everyone from the state and city. We had speeches and celebrities and of course I was in attendance. Sadly, the Fabrizi project failed money. Did the City fail to do their homework? Now we have an exciting project going up down the street from all that exciting downtown housing. Marina Village replacement housing. Maybe they will rename it.
Steve,
When you cross the finish line decades after the race ended, I do not think the official results say 18 years, 11 months, 14 days, 2 hrs and 23 minutes. I believe the official designation would be DNF! Did not finish.
Steelepointe was Herman Wolf’s idea!
Good for the neighborhood if it happens. This is a cherry location for just such a project. The bigger the better.
One step forward in developing the waterfront. But will it be two steps back if Marina Village becomes the Remington site neighbor. Time will tell. Oh wait, it’s an election year so there’s a lot of smoke being blown.
It’s difficult to take any of this seriously. As posted, the project has degenerated from 50-story condos to what appears to be 6-story apartments. As speculated, maybe this will become replacement housing for Marina Village. Don’t count on the city council to demand answers. Enough votes can be counted on for anything.
It would be interesting to compare the tax incentive ordinance passed in, I believe, 1991, to what the Finch administration is doing. It was developed during the Bucci administration and adopted during the Moran administration. The guidelines were strict.
Also developed during Bucci’s terms and adopted during Moran’s were guidelines for developing waterfront property, requiring waterborne-related uses. My, how things have deteriorated.
The parcel downtown that includes a charter school is referred to as a “Teachers Village.” One was recently built in Newark New Jersey and outgoing Commissioner Pryor was instrumental in that initiative. The housing units are built right next to the charter school because these uncertified Teach for America teachers and Tutor Corps members are expected to be available at all hours, including weekends. The charter school application for this charter school references the housing will be for “young” teachers which is clearly a form of age discrimination. Teach for America teachers are only required to make a two-year commitment and the Great Oaks Charter School Tutor Corps members are only required to make a one-year commitment. 50% of Teach for America teachers turnover by year two and 80% turnover by year three. Studies have shown it generally takes 2-3 years before a new teacher becomes effective. This constant turnover is detrimental to the academic success of students, not beneficial. How does having a charter school located on Main Street in Downtown Bridgeport spur economic development? I believe I would be accurate in stating this charter school is exempt from property taxes, therefore removing another parcel of land from the tax rolls. The vast majority of residents in downtown Bridgeport do not have school-age children. Malloy has another bunch of cash for a charter school and a mere pittance for our severely underfunded true public schools. Just more to share with voters about Malloy as I knock on doors.
Maria, where is the project with the charter school and 156 units of residential housing? Are you certain that is downtown and the school will be off the tax rolls? Downtown????????? Are you sure?
If your schools are underfunded, then tax yourselves, Bridgeport only pays 15% of its total Ed. bill.
Steve, in reviewing the 400-page application for Great Oaks Charter School, it specifically references the building of a “Teachers Village” in “Downtown North.” The application stated the same developer that built the Teachers Village in Newark NJ had toured locations with David Kooris and had selected a parcel located in “Downtown North.”
There are no taxes assessed against a public school funded by a municipality. Technical and charter schools are controlled by the state, therefore I think it is pretty safe to say a municipality cannot levy taxes against a building owned by a specific charter school. Now if the BBOE or SBOE leases space for a school, taxes are still levied on the property. Of that I am 100% certain. Does anyone know if this charter school building will be assessed taxes? It is absolutely ridiculous Mayor Finch is endorsing and supporting the building of a charter school in Downtown Bridgeport, however I read it with my own eyes.
Steve, don’t you notice the press release specifically identifies the address of the first development project but not the second? Why do you think the information was omitted?
UMMM … yeah. This will happen … NOT! Just election-year shenanigans. If anything gets built there, it will be low-income housing. The cycle continues.
Hi everyone. I was just at Seaside Park yesterday and drove by that old Remgrit building. I told my cousin, man, they need to knock that down and clean it up. Then I read this. Wow, I like the idea. Front yard Seaside, back yard the Sound. Make those high-end condos with boat ramps or high-end apartments, but the one thing I noticed they could use over there is stores. Retail. They don’t even have a subway. Where do all those families and students shop? They have a couple of corner stores, famous pizza, bla bla bla. Are there any plans? What do you all think of the city putting a small part of Beardsley Zoo at Pleasure Beach, everyone loves to pet and see the animals, and also maybe a mini golf? I had heard a ballfield was being considered, but why? That wouldn’t make sense, keep the beach strictly for family fun almost feeling like a nice vacation day. Just some thoughts.
Coach T, Gregg Dancho has done an amazing job turning the Zoo into a first-rate tourist attraction. No need to adulterate it and have a mobile mini zoo there at Seaside Park. However, Mini Golf and Go-Karts could be a real draw and moneymaker for family entertainment. Retail will only succeed when there are bodies to support it. Downtown is creating a lot of retail space that remains vacant and will continue to remain vacant until someone can make a living there. Downtown we need 1800 units of housing highrises with parking like Hartford. Seaside Park by Remington Shaver could also benefit from 1000-plus market-rate and upscale housing on the water. Shopping will follow. Building housing on the water will show Steelepointe is ripe for upscale highrises. It is a shame Bridgeport suburbs are building highrise luxury towers while Bridgeport stops at six stories. SEEMS LIKE THE ’60S WAS THE LAST OF LUXURY HIGHRISES ON PARK AVENUE. THINK STRAWBERRY HILL IN STAMFORD.
Couldn’t agree more, Steve. I may be reading wrong but is it 200 total units or 200 units of a ‘first phase?’ If it is just 200 units, WOW what a waste.
First phase 200 units, hopefully the market continues to improve. Bridgeport usually drags its heels and starts a project on the economic downswing making the APTS a real magnet for public housing and section 8. G-d forbid. There is definitely a need for low-income housing but there is a desperate need for market and upscale housing to spend money in local businesses. I am sure Ralph & Richies will benefit from Marina Village housing down the street. One can only hope.
Steve, I am sure Marina Village Housing will do wonders for R & R and the arena. Just look what it has done for Park Ave where they are now located.
You aren’t kidding, OlofsonD! If only 200 units are being constructed, it truly is a waste of space. Five hundred or more would be appropriate. All factors considered, this is waterfront property and it’s a precious commodity that they should make the most of since there is so little of it left. Just curious, what risk of flooding, if any, at that location?
People will say I am just being negative but the rendering of the building looks like it is already slipping into the harbor. Is this an omen for the future of this project?
Hey Lennie. No scorecard on the debate, even if you need to copy someone else’s opinion?
Who won? Who lost? Any knock blows?
Steve, my fault. I meant the small zoo and putt-putt golf for Pleasure Beach. Go-carts would be awesome as well.
Steve, in reviewing the 400-page application for Great Oaks Charter School, it specifically references the building of a “Teachers Village” in “Downtown North.” The application state the same developer that built the Teachers Village in Newark NJ had toured locations with David Kooris and had selected a parcel located in “Downtown North.”
There are no taxes assessed against a public school funded by a municipality. Technical and charter schools are controlled by the state, therefore I think it is pretty safe to say a municipality cannot levy taxes against a building owned by a specific charter school. Now if the BBOE or SBOE leases space for a school, taxes are still levied on the property. Of that I am 100% certain. Does anyone know if this charter school building will be assessed taxes? It is absolutely ridiculous Mayor Finch is endorsing and supporting the building of a charter school in Downtown Bridgeport, however I read it with my own eyes.
I read this rant and I can see this lady doesn’t like the charter school coming into Bpt. I would bet if the teachers were part of some mad-dog liberal union, everything would be fine.
barry, first let me say I am not against charter schools. Some are beneficial some just suck the money out of the public school system. When a school system gets a failing grade, it is time to investigate other avenues. Do you know what impact teachers village has had in New Jersey? Sometimes, bricks and mortar without benefits is a necessary evil to get other projects moving. To be honest, would anyone want to move into a market-rate apartment in downtown north surrounded by blocks of dilapidated buildings? The answer is no and although we have educated number crunchers on this blog, they have no ability to see the bigger picture. Until I know more, I’ll support the project, it has to be more appropriate than Marina Village by the Arena and Harbor Yard.
Lennie, was this story and press release in the Connecticut Post? Did I miss it?
Steve, I know sometimes it’s hard to believe I can actually write an original story. I don’t know if the Post sent a reporter to the event. I was there and snapped all the associated photographs. Yes, I’m a crappy photographer. Always have been. The Post did publish the governor’s news release online.
Lennie, not hard to believe at all. I actually think you are quite talented. Good article and great pics.
Lennie, thank you for a solid piece of reporting. I especially like the confused look on Malloy’s face. Nice shot!