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Bridgeport Green-Lights Developer
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Business New Haven
10/27/2003
By: BNH
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BRIDGEPORT - A New York developer has won the Bridgeport City Council's blessing to revitalize two key downtown areas with an overall estimated $94 million investment. On October 20 the lawmakers gave A&F Commercial Builders the green light to transform the tax-delinquent former Citytrust building to commercial and residential space. It also approved an agreement to develop residential, commercial and office space in 15 buildings, clustered near Golden Hill Street and known as Downtown North, that were previously seized by the city.
A&F is also expected to win approval to develop the Main Street Arcade in a separate agreement that is still pending.
Both projects have special arrangements for land transfer and schedules for payments in lieu of taxes. A&F must arrange its own financing for the project.
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