CT Post reporter Brian Lockhart provides an update on dialogue between the city and M&T officials regarding a potential bank branch in the East End.
Developer Anthony Stewart would love to have a bank at the Honey Locust Square retail and office project he is building along Stratford Avenue in the East End.
“That’s like one of the strongest tenants you can get,” Stewart said this week.
And so he and some prominent municipal leaders, including on Monday Mayor Joe Ganim, have privately and publicly been urging M&T Bank of New York to open a branch at the Honey Locust site. M&T purchased Bridgeport-based People’s United last year.
“In recent weeks, M&T … officials have had conversations with both city staff and community members about the bank’s interest in increasing investment in the city and ensuring that the bank is a good corporate citizen,” the mayor wrote M&T Chief Executive Officer Rene Jones. “The East End is an underserved community that is in great need of banking services, and we are confident that people that live in the area would happily utilize a bank branch if one were available to them.”
Jones responded to Ganim in a letter Wednesday that did not mention the word “branch.” He instead wrote, “I want to assure you that the importance of the East End is a priority that we share” and the company has been holding “listening sessions” with the community–no times or locations were specified–“to make sure that we’re showing up in the most impactful way possible.”
Full story here.
Discussions between the two aren’t part of an even exchange.
M&T Bank is the giver and Bridgeport – as represented by Mayor Ganim – is the taker.
It seems obvious M&T wants to build a presence here but demanding immediate action in a specific location is not conducive to a lasting partnership.
I think the Mayor and M&T discussing investment in Honey Locust square is Brilliant. Honey locust Square as Steel Point are key to future development on and around the sites in the East End. I am certain M&T realize that investment in this city at that location is key to the successful completion of a very important East End development. It is important that Honey Locust Square gets completed and that the City delegation can spend more time on mother investments for the city in Hartford. Local Eyes your posts used to be so up and optimistic and lately you have become so negative. So out of character.
Note to John Marshall Lee. I had given a check to the NAACP months ago and have never received any communication at all. Is there a reason for that?
other not mother
Whatever is a banking desert is probably a food desert too.
Does that mean M&T Bank should go into the grocery business?