Westport-based hedge fund Bridgewater Associates has proposed building an underground parking garage and other upgrades at its Westport campus.
Jim Marpe, Westport first selectman, said Bridgewater Associates has presented an unofficial proposal to expand its facility on Glendinning Place in Westport.
“Bridgewater has been an excellent corporate citizen and I believe their continued presence in Westport is a very good thing,” Marpe said.
Marpe said Bridgewater”™s appearance before the Westport Planning and Zoning Commission was only a preliminary presentation and no application was put forth.
Bridgewater Associates reportedly manages $169 billion in assets.
“So far, Bridgewater has exhibited an understanding of our approval processes and procedures and it is committed to working with us to get the appropriate approvals,” Marpe told the Fairfield County Business Journal. “Bridgewater has been a very good corporate citizen in Westport and I believe they have every intention of continuing to be a good neighbor and developing their projects within the town”™s guidelines and requirements.”
Town Conservation Director Alicia Mozian told the Associated Press her department will likely need help vetting the proposal from an outside consultant.
