Governor Ned Lamont announced that the state will give $3.77 million in funding for Bridgeport's Cherry Street revitalization.
The grant for the project will help with building much-needed supermarket and retail space, which is estimated to create 250 new and permanent jobs in the neighborhood, Lamont said.
The Cherry Street Lofts project is transforming the city's west end, the governor said. It will continue converting old industrial buildings into new apartments and retail spaces.
“Years ago, I talked about this area being a visual gateway to Bridgeport. This project’s impact on our visual skyline is only matched by the tangible growth felt in the West End. The additional support from the State will go a long way toward continuing that progress. I thank Governor Lamont for helping to advance economic development in the Park City,” said Bridgeport Mayor Joe Ganim.
The funding will support Phase III and IV of the project.
“Supporting and investing in local economic projects has always been a significant part of my agenda,” Lamont said. “I visited this project and saw firsthand how transformative it could be for Bridgeport. Between the growth of new jobs and the creation of environmentally conscious housing and transit-oriented development – all within a federally designated opportunity zone – this is just the kind of plan that will keep driving and revitalizing our economy.”
Phase III of the project is focused on investigation, remediation and abatement of contaminants from the environment, according to Lamont.
"The project is powered by recently installed 440kw fuel cells that produce less costly renewable energy. As a result, the neighborhood is becoming more resilient, improving the environment and lowering tenant utility costs by taking itself off the grid," according to the governor.
The Cherry Street Loft development has already completed transformed a six-story affording housing building. That property is now also home to Great Oaks Charter School, according to Ganim.