Governor Dan Malloy on Friday announced another round of financing for city development projects, including the West Side and Downtown. Site descriptions from Malloy follow:
Maplewood Court, Bridgeport–Mutual Housing of Southwest Connecticut
Bridgeport will rehabilitate two historic former school buildings that were converted in 1997 to 32 affordable apartments. The original adaptive reuse project included eight public housing units under the Bridgeport Housing Authority’s Father Panik relocation program. Sixteen additional project-based Section 8 vouchers will be provided by the Bridgeport Housing Authority as part of this project. The scope of the work will focus on the creation of an on-site storm water retention system to address periodic flooding so that eight lower level apartments will become available. The project will also improve the energy efficiency of the buildings, upgrade all units with new bathrooms, Vidaspace flooring, and paint. DOH will provide a loan of up to approximately $2.15 million.
McLevy Square, Bridgeport–Forstone Capital
Four contiguous buildings will be renovated on a site that overlooks McLevy Green at the intersection of Main and State Streets in the heart of downtown Bridgeport, creating a vibrant mixed-use and mixed-income residential development. The retail and office portions of these buildings will be renovated for code compliance and energy efficiency upgrades. An iconic vacant small theater will be converted into a restaurant, dinner theater, or similar use. The upper floors of two of the buildings will be converted into 32 one-bedroom residential units, 19 of which will be leased to households earning up to 120% of AMI, three will be leased to households earning up to 100% of AMI, and three will be leased to a household earning up to 80% of AMI. McLevy Green is the city’s historic town center and serves as a garden, park, and community space for downtown residents and visitors. The project is also in close proximity to the Bridgeport intermodal transportation center and the Route 8/I-95 interchange. DOH will provide a loan of up to approximately $4.95 million, which will leverage almost $9 million in developer equity and private debt.
Statement from Mayor Bill Finch:
“This is great news. These funds serve as a significant boost to our redevelopment efforts in downtown Bridgeport. This grant will help bring new businesses and residents to an area within walking distance to Bridgeport’s train station. Thanks to Governor Malloy and his administration for their work in moving this project forward–making Bridgeport an even better place to live, work, and raise a family.”
Many people played a part in this new round of funding but I’m putting Mayor Finch at the top of the list because he plays the key role in the process that’s building a better Bridgeport.
I’m thrilled with the McLevy Square portion. Ever the hipster, the ghost of Abraham Lincoln is so happy with the decision concerning his former campaign stop, he’s “busting a move” to a song called Yankee Doodle Dandy!
(wink)
Meanwhile a shovel has YET to touch soil where Bass Pro is to be “built.” Shove it, Finch.
This is another positive for downtown. GREAT JOB! Governor Malloy is taking care of the City and I am certain the Mayor will thank him in person at the Univ. of Bpt. Commencement. I had the pleasure of visiting friends at Zeisler and Zeisler yesterday on the 15th floor of 10 Middle St. The exterior of the building may be extremely dated and unimpressive, the 15th-story views are just spectacular. A great view of the Sound, Steelepointe and downtown. We need more market-rate housing downtown, the magnificent Arcade is lifeless. THIS ANNOUNCEMENT IS A STEP IN THE RIGHT DIRECTION.
Doesn’t anybody consider the final cost as opposed to the instant gratification of a freebie?
It’s an election year … of course the money is starting to flow. Oh, who’s money is it anyway? Time to buy votes. How’s that working for you in the ghettos of Bridgeport? All of a sudden?
It’s always an election year.
In other parts of the world, ghettos are quickly built and result from political dislocation. Everyone there wants to escape. They are hotbeds of innovation, desperation and hunger.
In America, ghetto-dwellers enjoy cable TV, home-delivered pizza and debit cards that get updated monthly. No, it’s not paradise but it’s permanent and supported by America’s $17 trillion debt. In addition, medical benefits and subsidized housing are de rigueur.
It’s hard to imagine Bridgeport’s welfare culture as an engine of growth.