Lots of cool stuff happening downtown, including more foot traffic. 333 State Street at the corner of Lafayette Boulevard was a downtown eyesore for more than a decade. Now it’s one of the new housing developments adding a brighter face; a seven-story residential and commercial complex that is about to open its doors to new tenants featuring 65 one- and two-bedroom apartments. The complex is adjacent to the Connecticut Post building, federal courthouse and Housatonic Community College.
Bob Carlson, the developer and builder, says the project’s total cost is approximately $13 million. A substantial portion of the financing consists of bond funding provided by General Electric and administered by the Connecticut Housing Finance Authority.
The first floor features 6600 square feet of commercial space. The Greater New England Minority Supplier Development Council, Inc, (GNEMSDC) www.cmsdc.org/index.php will relocate its regional headquarters from Hamden to lease 5100 square feet of the first floor this fall, according to a company news release. The GNEMSDC is a 501(c)(3) corporate business membership organization that builds relationships between large public and private sector corporations and certified MBEs.
Carlson says Mayor Bill Finch and the city’s Office of Economic Development played a key role in assisting with approvals, working with CHFA and helping to attract GNEMSDC to Bridgeport.
Barbara Kelly, of Urban Spaces Realty, the leasing agent for the residential portion of the project says she has a list of several hundred individuals who have already inquired about apartments. She adds the apartments appeal to young professionals and “Empty Nesters” seeking urban lifestyles. 333 State Street features high quality interior finishes, oversized windows, secured parking and panoramic views of Long Island Sound and the surrounding areas. One-bedroom apartments range from $950 to $1350, two-bedroom units from $1200 to $1850. The apartments are expected to be move-in ready in a few weeks. More details on residences: www.333statestreet.com/residences
AMS Real Estate, located downtown, is the exclusive leasing agent for the commercial portion of 333 State Street. AMS Real Estate is led by Fred Frassinelli, company president. A formal ribbon-cutting for the development will be announced next week.
For more, check out www.333statestreet.com.
But where are residents supposed to park?
And why are they going downtown when there are ample rental apts on Park Ave (where there IS parking)? It’s also less expensive rental near to shopping (read supermarkets) and social activities. There still is little reason to go to downtown Bridgeport to live there. Another Band-Aid on a broken leg, it seems.
So long as this organization’s business plan is financed by government funds and is committed to aiding minority businesses only, it does not qualify as a commercial tenant.
www .cmsdc.org/index.php
Foot traffic? To where? For what? Adding 65 residential units to 333 State just makes it a more ‘target rich’ environment for the thugs who hang around the corners around State and Main. Not much being done to encourage businesses to move in. I say build business before residential just like Stamford did. That creates a ‘need’ for residential at lucrative rates for the developers.
Eversley couldn’t pull it off because he didn’t know how. He was a disaster who did a lot of damage by allowing business development to remain dormant for nearly five years. Now he works for Timpanelli. You catchin’ my drift here?
I could not open up the link. In this release it implies this is rental housing. How much? My math tells me there is about $170K TDC per unit. Does this include acquisition? Are the units done? How many are actually sold? Is this a real business that is going to rent on the first floor? This project has been in limbo for many years. There does not seem to be a lot of construction activity going on there.
I think we can all agree anything that revitalizes and adds vibrancy to the downtown area is a good thing.
I do agree though, if adding residents is the preliminary revitalization goal, then creating a safe environment is critical to sustainability. If new downtown residents feel safe and secure they will be more likely to bring in friends and family, which will further revitalize the area.
Gee, I pay $6,200 in property tax not including my cars. I sure would like to feel safe also. It’s not happening.
Any info on what the building value is when complete? And does it come on the Grand List fully immediately, or is there a gradual inclusion of this deal for property tax purposes? In other words how rapidly does a completed project (no matter how long in the pipeline) begin to contribute its due to the City as any other property?
Lack of parking was not identified as a serious problem downtown last time I looked. Having to walk a couple blocks or not having free parking 24/7 may be the objections heard. However, services for the increasing number of downtown residents is an opportunity for businesses with deep enough pockets to weather a possibly extended initiation. One of the “benefits” of downtown living close to transportation services is the elimination of auto expenses from your personal budget. However, you still need to purchase food, get to the cleaners and do other basic shopping within walking distance. If out-of-town workers with good salaries and without kids find the train commute, restaurant and entertainment offered locally, as well as rental rates, attractive, then the people will come. Time will tell.
Good news. Parking was an issue before since the college next door didn’t allow the huge parking building to be used. Development seems to be moving forward, could the mayor push to get that hedge fund to move downtown also? They are one of the biggest.
Some are saying we now need to work on crime …
Tonight at 8:30pm on Bridgeport Now TV, special guests explain a new idea to reduce crime as featured in the CT Post recently: “Soon residents with a tip for police will be able to pick up a special TIPS (Trustworthy Information for Public Safety) envelope at some city supermarkets, Bridgeport Housing Authority sites and library branches in the city.”
www .ctpost.com/news/article/Keila-Torres-Ocasio-New-ways-to-let-police-know-3738920.php
What do you think? Let us know tonight with call in. Crime segment follows 8pm BOE candidate.
You wanna fight crime???
Why don’t you get Sheriff Vallas on the show?
Finch seems to think his safe corridors will eliminate crime as we know it.
I wonder which one of his LLC’s will get the no-bid contracts for setting up the cameras.
Nice article! Glad to hear there’s some commercial action going on. That’s the up side! The down side is I sprained my neck looking at the photo.
I hope your neck feels better. My face hurts from laughing at all these sophomoric attempts to rehab downtown for residents. These “urban planners” have absolutely no idea about generating interest in Bridgeport. Not one, I’ll bet, has ever been to see a successful urban plan such as New Roc City (New Rochelle, NY).
THINKING outside the box is cool, hip and trendy but ACTING outside the box is risky, uncertain and where rewards are found.
*** FEED THE METERS, IT’S REVENUE FOR THE PARK CITY! ***
Message to Mojo: I have no time for your silly meters. The taxman is satisfied. I’m at the zoo, feeding all the kangaroos. Cover your tracks.
(code) In The Land of the Blind the man with the thickest glasses has the best vision.
They finally put you up as an exhibit.
*** Local Eyes, please don’t feed the animals, it gives them “GAS!” However you may feed the downtown meters if you ever come to visit any of the downtown residents during the day let’s hope they don’t get silly like New Haven where visitors have to feed the hungry city meter crritters at night too or pay the ticket piper, no? *** FOR THE LOVE OF MONEY ***