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September 6, 2022

$200M waterfront development slated for Bridgeport’s Steelpointe Harbor

Contributed This rendering shows the proposed Steelpointe Harbor mixed-use development project in Bridgeport.

A $200 million, mixed-use development project with 420 rental units and 10,000 square feet of commercial retail space is slated for Bridgeport’s waterfront in Steelpointe Harbor.

The project is a partnership between Indianapolis-based Flaherty & Collins Properties, RCI Group and the city of Bridgeport. 

“This is a truly unique and exciting project and partnership for us,” said Ryan Cronk, principal of Flaherty & Collins Properties. “Between the city of Bridgeport and RCI, we’re really building off something transformative at Steelpointe Harbor… This for-rent project is just what this burgeoning area needs.”

The apartment building will have waterfront views, with high-end and modern amenity options and a waterfront pool and deck, outdoor kitchens, and gathering spaces, a secure parking area, and a dedicated dog park and pet spa. 

The development will include a fitness center, a spin studio, sauna and jacuzzi, an outdoor pickleball court, and water taxi service to Pleasure Island beach.
Bridgeport Mayor Joseph P. Ganim said the project “will truly make a significant impact to benefit Bridgeport's economic and community development potential. 

“Bridgeport is finally seeing well-made plans become a reality that will bring jobs, provide housing, and improve the landscape on our waterfronts,” Ganim said.  

According to the project website, the city council in January 2022 approved a tax abatement for this phase of the Steelpointe Harbor project, calling for a two-year construction period and one year to secure tenants.

The city would receive almost $24,000 a year in taxes for the first three years as the residential units are being built and leased.

Following that timeframe, the city would then get $1.26 million in year four, with a 2% increase each year up until year 10, reaching $1.47 million.

City officials expect the project to attract other retail developers and tenants.

Steelpointe Harbor is accessible along the I-95 corridor, and close to the Bridgeport Transportation Center, with access to the train and the Bridgeport & Port Jefferson Ferry to Long Island. 

Development team members said this is in line with popular “live, work, play” development concepts, and also transit-oriented development, which is a goal of several state agencies.

The area is also home to an emerging entertainment hub, highlighted by the Hartford Healthcare Amphitheater powered by Live Nation, which opened in 2021.

Robert Christoph, Jr., president of RCI Group, said the project “will offer a lifestyle that doesn’t currently exist in the Bridgeport market.” 

In 2015, Bass Pro Shops, Chipotle, and Starbucks were built at Steelpointe, followed by the addition of the 220-slip Bridgeport Harbor Marina, which is approaching full occupancy. 

The 48,000 square foot Lighthouse Building, which overlooks the newly built docks at Steelpointe Harbor, is also home to the Boca Oyster Bar, a 10,000-square-foot waterfront restaurant on the ground floor level, members of the development team said.

RCI Group also retrofitted the old Carpenter Steel and Derektor Shipyard buildings to include new tenants Bridgeport Boatworks, Hornblower Group, and North Sails.

Established in 1993, Flaherty & Collins Properties is a developer, builder, and manager of mixed-use, multifamily properties, with over a half-billion in projects under development in Ohio, Indiana, Florida, Oklahoma, Connecticut and Kansas City. Flaherty & Collins Properties currently manages 80 properties and nearly 13,500 units in eight states.

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