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12/18/2020 - State Bond Commission Approves $3.7 Million for Cherry Street Development Phases III and IV in the West End

 


Mayor Joseph P. Ganim
Bridgeport, CT

For Immediate Release                                                                                            
December 18, 2020   

 

STATE BOND COMMISSION APPROVES $3.7 MILLION FOR CHERRY STREET DEVELOPMENT PHASES III AND IV IN THE WEST END

CHERRY STREET PROGRESSES TO BUILDING ON HANCOCK AND RAILROAD AVENUES

 
BRIDGEPORT, CT – Mayor Ganim applauds the action of the Connecticut Bond Commission for approving $3.7 million in bonding for phases III and IV of the Cherry Street Development project today.  This funding will finance the investigation, remediation and abatement to support these next two phases of development.   Phases III and IV of this expansion are part of an adaptive re-housing and new-construction commercial development project. 

“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 Mayor Ganim. 

The Cherry Street Loft development project has already completed the remediation and renovation of a six-story affordable housing building for residential tenants.  The property is now also home to the Great Oaks Charter School.  Earlier this year the City of Bridgeport, state delegation, Corvus Capital Management, and NuPower LLC celebrated the installation of Doosan 440w fuel cell which now supplies the property with clean renewable baseload energy, making the neighborhood more resilient, improving the environment, and lowering tenant utility costs. 

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