January 17, 2024
Post by Jessica

Originally published on Patch.com. Reprinted with permission by author.

BRIDGEPORT, CT — A groundbreaking ceremony was held Tuesday at The August at Steelpointe Harbor, a mixed-use, transit-oriented development at 55 E. Main St. in Bridgeport, which officials said “will redefine waterfront living in the heart of Fairfield County.”

The complex is adjacent to the Bridgeport Harbor Marina, and Flaherty & Collins Properties and the RCI Group have partnered to take the lead in the development and construction of the 420-unit mixed-use project.

In addition to offering waterfront views, The August will also feature “an indoor and outdoor state-of-the-art fitness center, co-working lounge with coffee service, saltwater pool & deck, private outdoor pet park and pet spa, EV charging stations, outdoor kitchens, and a pickleball court.”

Groundbreaking ceremony at The August at Steel Point

In a statement, Mayor Joseph Ganim said, “I would like to compliment RCI Group on partnering with Flaherty & Collins Properties, one of the Midwest’s largest and most experienced multifamily developers, for this next exciting development phase of Steel Point. The August will include 420 high-quality apartment units but will also provide indoor and outdoor amenities making it a premier housing development along Bridgeport’s waterfront. I thank the Christophs for their continued investment in Bridgeport and welcome and thank Flaherty and Collins for their new commitment to Bridgeport.”

From the announcement:

Governor Lamont noted, “Right now, the sun is shining on Bridgeport, a lot of people want to be here. A lot of people want to be in the State of Connecticut. The development here at Steelpointe Harbor is really coming together in a way that makes sense for this city and this state. It’s a short walk here to transportation, and a lot of money is going into transportation right now. Thanks to the bipartisan transportation bill, Bridgeport will be as close to New York City as Stamford is today. There’s going to be housing here at Steelpointe that young people can afford to start their careers at; housing for our teachers, firefighters, and cops and that means a lot in terms of this community. This is a transformative moment. It’s taken a long time to come, but Rome wasn’t built in a day.”

Residents will enjoy access to amenities including the Bridgeport Harbor Marina, the Hartford Healthcare Amphitheater, and the Total Mortgage Arena. The August boasts the most convenient connectivity to I-95 at exit 28 ensuring convenient travel. With the blend of amenities and transportation options, residents will have seamless access to the Metro North Train Station, the Port Jefferson Ferry, convenient water taxi services to Seaside Park and Pleasure Beach, and connections to Grand Central Station. The train’s comprehensive network of stops establishes this location as a central hub for residential living, working, and commuting.

The financing of this project, exceeding $190 million, has been made possible through a collaborative effort with several local and national lenders. Leading the way is Old National Bank with a $111 million construction loan, accompanied by participating lenders, including Busey Bank, Webster Bank, Newtown Savings Bank, First Bank of Greenwich, First Merchants, Essex Savings Bank, and Southern Bank. Additional project financing is being provided by the Connecticut Housing Finance Authority (CHFA), the Connecticut Department of Economic and Community Development (DECD), Local Initiatives Support Corporation (LISC), and Connecticut Innovations.

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