“Unparalleled” – Groundbreaking For Mixed-Income Housing Units At Steelpointe Harbor Waterfront – Lamont: Sun Is Shining On Bridgeport

Governor Ned Lamont joined Mayor Joe Ganim and other officials on Tuesday for the groundbreaking of the mixed-income $190 million latest phase of the Steelpointe Harbor redevelopment area: 420 upscale units, hundreds of construction jobs, 10,000 square feet of commercial space, fitness center, swimming pool along the harbor, saunas, pickleball, outdoor balconies, pet park, co-working space, some of the amenities and economics of the project.

See video announcement above.

Officials announced something new in conjunction with the development: about 20 percent of the units are classified as “work force” housing a vernacular that has come into use by developers and housing officials synonymous with affordable housing to open up opportunities for professionals such as public employees and healthcare workers whose income levels would be out of reach for this type of upscale housing.

State housing officials have worked behind the scenes the past few months to engineer the housing set aside.

Breaking ground on Tuesday.

Named The August, covering 6.5 acres of the 52-acre site, property owner RCI Group, led by Robert Christoph Jr., has partnered with midwest-based builder Flaherty & Collins Properties.

Two years ago, the City Council approved a tax abatement for the plan that also includes construction of a hotel.

The $190 million project includes a financial collaboration of $111 million with local and national lenders led by Old National Bank.

News release from Steelpointe Harbor:

Flaherty & Collins Properties, in partnership with RCI Group, is thrilled to break ground on The August at Steelpointe Harbor, located at 55 E Main Street, Bridgeport, CT 06608. Nestled adjacent to the Bridgeport Harbor Marina, this mixed-use, transit-oriented development is poised to redefine waterfront living in the heart of Fairfield County, Connecticut. With its expansive footprint spanning approximately 6.5 acres, The August marks the beginning of residential units within the grand 52-acre Steelpointe Harbor Master Plan by providing unparalleled connectivity and raising the bar for exceptional development in both Bridgeport, CT, and Fairfield County. 

Through a dynamic partnership, Flaherty & Collins Properties and RCI Group are taking the lead in the development and construction of this impressive 420-unit mixed-use project. The August is designed to offer remarkable waterfront views paired with exceptional amenities. The development boasts an indoor/outdoor state of the art fitness center, co-working lounge with coffee service, saltwater pool & deck with long island sound views, expansive private outdoor pet park and pet spa, EV charging stations, outdoor kitchens, and pickleball court. 

Bridgeport, Connecticut Mayor Joe Ganim expressed his gratitude, stating, “I would like to compliment RCI Group on partnering with Flaherty & Collins Properties, one of the Midwest’s largest and most experienced multifamily developers, for this next exciting development phase of Steel Point. The August will not only include 420 high quality apartment units, but will also provide exceptional indoor and outdoor amenities making it the premier housing development along Bridgeport’s waterfront. I thank the Christophs for their continued investment in Bridgeport and welcome and thank Flaherty and Collins for their new commitment to Bridgeport.”

Governor Lamont noted, “Right now, the sun is shining on Bridgeport, a lot of people want to be here. A lot of people want to be in the State of Connecticut. The development here at Steelpointe Harbor is really coming together in a way that makes sense for this city and this state. It’s a short walk here to transportation, and a lot of money is going into transportation right now. Thanks to the bipartisan transportation bill, Bridgeport will be as close to New York City as Stamford is today. There’s going to be housing here at Steelpointe that young people can afford to start their careers at; housing for our teachers, firefighters and cops and that means a lot in terms of this community. This is a transformative moment. It’s taken a long time to come, but Rome wasn’t built a day.”

Located in one of Fairfield County’s most transit-rich environments, residents will enjoy effortless access to a diverse array of amenities including the Bridgeport Harbor Marina, the Hartford Healthcare Amphitheater, and the Total Mortgage Arena. The August boasts the most convenient connectivity to I-95 at exit 28 ensuring convenient travel. With an unrivaled blend of amenities and transportation options, residents will have seamless access to the Metro North Train Station, the Port Jefferson Ferry, convenient water taxi services to Seaside Park and Pleasure Beach, and effortless connections to Grand Central Station. The train’s comprehensive network of stops establishes this location as a central hub for residential living, working, and commuting. The combination of these unmatched project amenities and a variety of transportation options solidifies The August as one of the premier developments along the Connecticut Gold Coast.

The financing of this ambitious project, exceeding $190 million, has been made possible through a collaborative effort with several esteemed local and national lenders. Leading the way is Old National Bank with a $111 million construction loan, accompanied by participating lenders, including Busey Bank, Webster Bank, Newtown Savings Bank, First Bank of Greenwich, First Merchants, Essex Savings Bank, and Southern Bank. Additional project financing is being provided by the Connecticut Housing Finance Authority (CHFA), the Connecticut Department of Economic and Community Development (DECD), Local Initiatives Support Corporation (LISC), and Connecticut Innovations. 

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RCI Group

With over five decades of experience, RCI Group excels in creating thriving residential, commercial, and marine properties, including the iconic transformation of Miami Beach Marina. Known for their comprehensive approach to development and family-oriented ethos, RCI offers a vibrant waterfront lifestyle and a proven record of revitalizing properties, becoming sought-after destinations in a multitude of waterfront locations spanning Florida, Massachusetts, Connecticut, Indiana, and Michigan.

Flaherty & Collins Properties

Established in 1993, Flaherty & Collins Properties, headquartered in Indianapolis, has garnered acclaim as an award-winning developer, builder, and manager of mixed-use, multifamily properties. With an extensive portfolio exceeding half a billion dollars, the company is actively engaged in development projects across various locations, including East Peoria, Illinois; Columbus and Cleveland, Ohio; Brownsburg, Columbus, Michigan City, and Mishawaka, Indiana; Cape Coral, Florida; and Kansas City. Currently overseeing 85 properties and managing over 15,000 units in 9 states, Flaherty & Collins Properties is dedicated to excellence in real estate development. For additional information about the company, please visit www.flco.com or contact 317-816-9300.

 

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10 comments

      1. Steelpointe Harbor redevelopment with 420 up scale units, 20% of those to be affordable.
        Lennie, I think the Mayor misspoke, or was that statement just for the ears of are Governor.
        Ganim “with a strong element of affordable housing” Joe you should be jumping for JOY with that statement, that’s 84 units of affordable housing at Steelpointe Harbor redevelopment that’s more then great news.
        I think we have a Strong Element of Horse Shit Here!

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        1. What I understood from the lady, the affordable aspect was based on a new affordable housing program for the working middle-class, people like police, fire, and teachers, nurses, etc. Who can’t afford to live/rent a place like that but are responsible people?

          Not everybody has “Big Daddy Money” While they have the money to live in the luxury of The August I would bet their volunteers can’t, and some perhaps deserve to.

          Who wouldn’t like to live in modest luxury if their 9 to 5 would let them? It going to have a pool of people.

          Perhaps even some kind of program for new developments to have vouchers program, It could be the flip side of the D’s “affordable” housing/programs to an R’s housing for the middle class is to ease the burden to rent in some of the new/nicer developments without devaluing it. It might even have Reaganomics effect on affordable housing too kinda cool and perhaps let capitalism strive without lowering the boat/tide, in the name of equality. JS

          At any rate, sign me up, please, for the housing/pool 🙂

          https://www.dailymotion.com/video/x8ky8um

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    1. 30 to 40 years ago families homes were taken through eminent domain with the promise that that area would be developed for the benefit of the citizens of Bridgeport, at the time it was the largest Census tract of Minority Owned Homes in the entire State, this development smells of hope to bring in “New” Bridgeporter’s a more Affluent Population, my question, How does this benefit the current population? Are they saying that these new folks are better for Bridgeport than the many families originally displaced.

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      1. ¡Saludos Hector! On the surface it sounds and looks like some-what to your interpretation.

        The General Bridgeport population can’t afford renting an appartment. Renting is very risky these days. My old upstairs neighbor lived there for 7 months rent-free and left the apartment a terrible mess.

        Affordable housing has taken over the word low income housing. It’s a challenge to put together the financing of such costly development project and low income doesn’t fit in. What is lacking is federal funding to build and or repair existing low income housing like P.T. Barnum Housing. They could at least fix the rusting stairs to upper level apartments.

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  1. Any reporters/researchers/journalists on board to report a true fact-based narrative on economic development on ‘Christof Island’ , the land where the luxury units shall be constructed and for which ground was broken.
    What do the words “affordable housing”, workforce housing, housing set-asides, mixed income units mean to Bridgeport residents, Council approvals, or planning, zoning, or economic development officials??? Aren’t we a City that has a Fair Housing Commission without appointments sufficient to meet with quorums, minutes, or discussions for two decades? How did everyone in elected governance fail in oversight, comments, and action after Ganim1, including Fabrizi, Finch and Ganim2 paid no attention to the critical need to appoint regularly and timely qualified fellow citizens? Time will tell.

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