city of bridgeport development update ct icsc · bridgeport holiday inn ‐ $10 m dollar renovation...

CITYOFBRIDGEPORT

DevelopmentUpdate

CTICSCMay2,2012

MayorBillFinch

DonaldEversley,DirectorOfficeofPlanning&Economic

Development

1

City of Bridgeport

16sqmiles

SellingBridgeport:“Connecticut'sHubforEntrepreneurshipand

Innovation”

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

3

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

7

$

$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

8

$250MillioninDowntown(cont’d.)

77MainStreet–Formerlong‐vacantgascompanybuildingrenovatedforCaseyFamilyServicesin2010,bringingover40newjobstodowntown

HousatonicCommunityCollege‐$55Millionexpansionfinishedin2008

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

333StateStreet‐Adaptivereuseprojecttoconvertaformerofficebuildinginto65apartments

BijouSquare:323Fairfield

9

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

333StateStreet

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

Mechanics and Farmers Bank

11

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

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

12

Downtown Village District North RFP

13

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.

14

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