Connecticut”™s State Bond Commission has approved $3.77 million for the next phase of Bridgeport”™s Cherry Street Lofts brownfield cleanup project.
The Cherry Street Lofts development seeks to convert derelict industrial buildings in Bridgeport”™s West End into a mixed-use residential and retail complex.
The first phase of the project, which kicked off in 2017, resulted in the creation of 157 residential units for families earning between 50% and 70% of the area median income, and along with the completion and opening of the 725-student Great Oaks Charter School.
The new funding will finance the investigation, remediation and abatement of contaminants from the project”™s site. Pending work on the development includes the construction of a supermarket and retail space, which is forecast to create 250 jobs.
“Supporting and investing in local economic projects has always been a significant part of my agenda,” Gov. Ned Lamont said in a statement announcement the funding.
“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.”
