US$ 200 M F&C waterfront apartment to be developed in Connecticut

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Plans have been revealed for a US$ 200M mixed-use F&C waterfront apartment project at Bridgeport’s Steelpointe Harbor in Connecticut. Flaherty & Collins Properties (F&C) is working alongside RCI Group and the City of Bridgeport on the project. At present,  there are no set construction timelines. But F&C is hoping to break ground on the apartment community either later this year or early next year.

Before proceeding to the construction phase, the F&C waterfront apartment project still requires certain permit approvals from environmental agencies. If all goes as planned, the apartment community will provide 420 new rental units and a 10,000-square-foot commercial space. 

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However, the F&C waterfront apartment project is only part of a larger 2.8-million-square-foot Steelpointe Harbor development. Ultimately, the entire project would add about 1,500 units and 200,000 square feet of commercial space to the area. In addition, the development also includes a  200-slip marina and 130-key hotel. Some retail tenants have already taken up spaces on-site, such as Bass Pro Shops, Chipotle, Starbucks, and Boca Oyster Bar.

Development plans for the F&C waterfront apartment project

The housing options offered at the waterfront apartment complex will range from studios to three-bedroom units. These units will come in various sizes ranging between 400 and 1,700 square feet. Additionally, residents will have access to shared amenities like a waterfront pool and deck, a fitness center, and outdoor kitchens. The complex also features a dog park, pet spa, and pickleball court. What’s more, a water taxi service will be provided to take residents to the nearby Pleasure Beach.

Earlier this year, the F&C waterfront apartment project was approved for tax abatement by the Bridgeport City Council. Under the agreement terms, Bridgeport is excited to receive $24,000 per year in taxes for the first three years. The developers will make these payments while residential units are being built and leased. Afterward, the city will receive $1.26 million annually, which will continue increasing by 2% each year for the 10year duration.