With 400 units of adjacent housing under construction, groundbreaking for the 141-room Residence Inn by Marriott is slated this summer at the Steelpointe Harbor redevelopment area on the East Side and East End.
RCI Group, led by Robert Christoff Jr., last year brought in True North Hotel Group to develop the hotel. The city has been without a hotel since the Holiday Inn Downtown was transformed into housing.
More from Michael Juliano, Hartford Business Journal:
Plans to bring a hotel to Bridgeport – the state’s largest city – has received $850,000 in potential tax relief on building materials through Connecticut Innovations, the state’s quasi-public venture capital arm.
Bridgeport-based RCI Group and True North Hotel Group, based in Overland Park, Kansas, plan to start construction in late July or early August on a 141-room, six-story Residence Inn by Marriott at Steelpointe Harbor, on a 2.5-acre parcel at 108 E. Main St.
The tax break from CI comes from the state’s Sales & Use Tax Relief Program, which exempts companies from Connecticut’s 6.35% sales tax, up to a certain amount, for capital equipment and/or construction materials purchases.
CI’s loan committee approved the deal on Tuesday.
“Connecticut has been a great partner for the project,” Robert Christoph, RCI Group’s founder and president, told the Hartford Business Journal. “We’re very excited to work with the city and the state, and we’re very excited that the state has programs like Connecticut Innovations to spur new development.”
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MUCH NEEDED !!!