$1 billion redevelopment of mixed-use project and marina in Bridgeport, Connecticut
RCI Marine/Bridgeport Landing Development, LLC
Represent real estate developer, Bridgeport Landing LLC, in the $1 billion Public-Private Partnership redevelopment of a mixed-use project, situated on the 52-acre Steel Pointe peninsula in Bridgeport, CT. The redevelopment will include a 2.85 million square foot complex of approximately 1,100 apartments in several high-rise and midsized buildings, a hotel tower, 250,000 square feet of offices, 650,000 square feet of retail space and restaurants, garage and surface parking for up to 4,000 cars, a town square and lighthouse, a 375-boat slip marina, a 50-foot-wide boardwalk along the water, a movie theater, and possibly, a heliport.
The development is part of the City's effort to revitalize Steel Pointe's moribund waterfront. The plan was approved by the City of Bridgeport after a competitive bidding process. Served as lead attorneys in drafting and strategizing the response to the Request For Proposal submission. Bilzin Sumberg attorneys developed an economic incentive plan for the project and led the presentation before the City's selection committee. Proposed to be built over a 10- to 15-year period, the project will bring the City of Bridgeport approximately $ 950 million in private investment. Following selection, Bilzin Sumberg successfully secured zoning approvals and permitting for the project. The firm was also instrumental in seeking federal grant funds, creating a tax increment finance district and issuing bonds to finance and construct the project. We are also currently negotiating an approximately 175,000+ lease with Bass Pro Shoppes.