CITYOFBRIDGEPORT

DevelopmentUpdate

CTICSCMay2,2012

MayorBillFinch

DonaldEversley,DirectorOfficeofPlanning&Economic

Development

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City of Bridgeport

16sqmiles

SellingBridgeport:“Connecticut'sHubforEntrepreneurshipand

Innovation”

•  Greatlocationinavibrantregion•  Convenienttransportationandconnections•  Diverseandskilledworkforce•  Competitivecostoflivinganddoingbusiness•  NewlyupdatedMasterPlanandZoning•  SafestbigcityinConnecticut,lowestcrimein4decades

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ATTRACTIONS/QUALITY OF LIFE •  The Ballpark & Arena at HarborYard: Bridgeport Bluefish

(professional baseball) and Sound Tigers (professional hockey), college sports, concerts and trade shows

•  Fairchild Wheeler 36-hole municipal golf course •  Beardsley Park & Zoo •  Seaside Park – 350 acres on LI Sound with longest continuous

beach in Connecticut •  32 public parks, 27 playgrounds, 40 public tennis courts •  Multiple marinas and boatyards for all incomes and ages •  Live music and drama at Klein Auditorium, Downtown Cabaret

Theater and Playhouse on the Green •  Growing community of artists, musicians and the creative class

•  Easy public transportation access to NY regional attractions

Key Strategic Themes

INVESTING IN DOWNTOWN

IMPROVING NEIGHBORHOODS

BUSINESS EXPANSION

TRANSFORMING BROWNFIELDS

GROWING THE CREATIVE ECONOMY 5

Downtown Village District

Dynamicnewzoningrulesencouragegreater

density,lessparking,more

adaptivereuseandtransit‐oriented

development

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$

$250MillioninDowntownInvestmentforprojectsstatedorcompletedinthelast4Years

CitiTrust‐$43Madaptivereuseproject,118aptswith3‐5retailspots

Arcade‐$20Madaptivereuse,historicatrium,23apts,64,000sfcommercial

Loft881‐$7Millionadaptivereuseofmedicalbuilding;38condos,3,000sfretail

StateJuvenileCourtComplex‐$40MintegratesFamilyandJuvenileCourts

BridgeportHolidayInn‐$10Mdollarrenovationincludednewfrontandrearentryways,theBLUEMARTINIlounge,andrenovationofall209guestrooms

BridgeportITCGarage‐$20millionparkinggarageprovides1400spacesfortrainstation,downtownandtheWebsterBankArena&BallParkatHarborYard

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$250MillioninDowntown(cont’d.)

77MainStreet–Formerlong‐vacantgascompanybuildingrenovatedforCaseyFamilyServicesin2010,bringingover40newjobstodowntown

HousatonicCommunityCollege‐$55Millionexpansionfinishedin2008

BijouSquare‐$6Millionrestorationofhistoricbuildingsforoffice,retail&BijouTheater;$25Millionnewconstructionat323Fairfieldfor84apartmentsand10,000sqftofretailspace

333StateStreet‐Adaptivereuseprojecttoconvertaformerofficebuildinginto65apartments

BijouSquare:323Fairfield

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InMay2010,thenew‐constructionphaseresumedafterayearset‐backduringthelendingcrisis.$25Millionnewconstructionof84apartmentsand10,000sqftofretailspace–ModaStudio,BijouWine,Melt,NewRobinhoodCleaners.

333StateStreet

Adaptivereuseprojecttoconverttheformerofficebuildinginto65apartments.InMay2010,theconstructionresumedafterayeardelayduringthelendingcrisis,withfundingprovidedbyCHFAandGEMoneyBank.Cityassistedwithfinancing,newsidewalks,andfindingsolutionsfordedicatedparking. 10

Mechanics and Farmers Bank

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52,000sqftbldgsoldbyCitytodevelopertoconstruct30rentalapartmentsand24,500sqftcommercialspaceforFletcher&ThompsonArchitects.CityhelpedtolandFletcherasatenantandprovidedtechnicalassistancewithForstone’s$3MDECDHousingTrustFundCHAMPapplication.Cityalsoassistingwithsiteplan,abandonmentofBankStreetandfundingofenviromentalremediation.

Downtown Village District North RFP 6 block development opportunity released by City August 2011

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Downtown Village District North RFP

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242,629squarefeet(5.57acres)within2‐5blocksproximitytoallmajorassetsofthecentralbusinessdistrict

Downtown Village District North RFP selected developers

•  SPINNAKER - Rehab of Main Street mercantile buildings (including K&R, HL Green and Kaye’s stores) to generate 30-40,000 square feet of commercial space, 50 residential units and 46 off-street parking spaces.

•  NAVARINO CAPITAL – New construction (and rehab of the Davidson Fabrics/Boy’s Club bldg) for 91,940 square feet of commercial space, 164 residential units and 132 off-street parking spaces on lot at Congress & Main Street.

•  COLORBLENDS – This end-user flower bulb importer will rehab of former Fairfield Uniform bldg at 1163 Main Street; 8,400 square feet of 2nd floor office space and a 1st floor gallery/museum/retail space to be called “The Tulip Museum”.

•  POKO PARTNERS – Demolition of Mr. Forties tavern and new construction on that site and surrounding lots to produce 60 units of new housing and 37,000 square feet of commercial space.

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744 acres

Lake Success 344 acres

General Electric 77 acres

EastBridgeport‐BarnumTrainStation

Transitorienteddevelopment

Remgrit26acres

BHA‐FatherPanik26acres

Carpenter Steel 16 acres remain

Steel Point 48 acres

SteelPointeHarborRestructuredplanfor2.8millionsquarefeetofdevelopment:retail,residential,restaurant,marinaandwaterfrontaccess.

Steel Point Infrastructure TIGER II Federal Grant will fund 80% of $13.9M cost

Out to bid May 2012

CITY OF BRIDGEPORT

Office of Planning & Economic Development

Donald C. Eversley, Director donald.eversley@bridgeportct.gov

203-576-7221 www.bridgeportct.gov

click “economic development” 23