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.
Fantastic!
Pathetic.
COPY AND PASTE FROM A PREVIOUS POST FROM BOB WALSH
Bob Walsh // Jan 22, 2016 at 9:10 pm
I was reading another story on the CT Post website about a small contractor getting stiffed by a BRIDGEPORT-backed developer on a downtown development project. Seems like Eric Anderson and Urban Green Builders is screwing up another development project with financial problems and performance issues and delays.
This article talked about one company being owed $150k. And you can be sure if there’s one, there’s more than one.
This guy Aja’s consistently had issues like this and yet the city continues to have what should be considered unacceptable delays.
Just another reason why developers want nothing to do with this city. Reward the bad and shut out the good.
Thank you, Frank.
*** The moment is now, not only is Finch gone but the State and Fed money appears to be coming in within reasonable time all before the 2016 Stock market takes a big upcoming plunge this summer! *** “GET OUT OR SELL NOW WHILE YOU STILL CAN, FOLKS!” ***
*** The Stock Market in 2016 will take a BIG downward dip this summer, which will have many holders trying to sell or trade at large losses! Gov. Bonds or any Gov. Ins. backed securities, etc. might be a better long-term safe bargain. *** SAVE, SAVE, SAVE AND STOP USING PLASTIC IN CASES WHERE YOU CAN USE CASH MONEY WHEN SPENDING WISELY ON THINGS YOU REALLY NEED, NOT THINGS YOU DON’T! ***
New Feature: Mojo’s Market Pulse–you’re on your own now but Mojo still cares about you. Listen to his insights.
GE: We bring good things to
LifeBoston.$2,156,300 to provide a loan to Mutual Housing Association of Southwestern Connecticut, Inc., or another eligible applicant.
I know for sure Mutual Housing has already received various forms of public financial assistance and tax credits for this location.
I would hope we don’t keep throwing good money at this bad project.
There were design flaws that allow storm water backup to flood the lowest-level apartment as well as sewage backup that constantly caused problems.
Please don’t give this money to Mutual Housing. Find a better nonprofit to fix and run this project.
I see Tommy Mac at the press conference. This must have been part of his responsibilities as Deputy Director of Labor Relations because we know he wouldn’t be at a political event during the day when he was being paid by the taxpayers to do his work in Labor Relations.
I hope Tommy finds his new boss to be as generous as Bridgeport taxpayers when it comes to pay for no-show work.
Bob Walsh is a geezer with an ax to grind.
This is a LOT of MONEY. MILLIONS of dollars. We need to see real bricks and mortar results.
This could become something greater than just a bunch of jing being thrown at a chronic blight problem. Downtown North has been an eyesore for eons. It looks like Dresden Germany in 1945, after the Allies bombed that city into oblivion.
There’s a lot of potential in downtown Bridgeport. Main Street, lower Fairfield Avenue, etc. Bridgeport has the potential to be on the vanguard of a New England renaissance.