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9/8/2015 - Mayor Finch, Gov. Malloy Celebrate Start of Construction on Vacant Industrial Block

“With this development, we are revitalizing a long blighted block that can be seen by the thousands of cars that drive through Bridgeport on I-95. We are also creating more than 400 new jobs for Bridgeport.” -- Mayor Bill Finch

Bridgeport, Conn. (September 8, 2015) -- Mayor Bill Finch and Governor Dannel Malloy today announced that construction will soon begin on the vacant, blighted five story industrial block in Bridgeport’s West Side, creating more than 400 jobs and serving as home to 157 new residential units and a school.

“Today is a great example of the smart investments we’re making in the future of our city to make Bridgeport a place where our kids and grandkids will choose to live, work and raise a family,” said Mayor Finch. “With this development, we are revitalizing a long blighted block that can be seen by the thousands of cars that drive through Bridgeport on I-95. We are also creating more than 400 new jobs for Bridgeport.”

For video of today’s event, click here: http://bit.ly/1KZAB22.
For photos of today’s event, click here:
http://bit.ly/1UzBgxg.

The development will be built in two phases. Phase I will consist of 157 residential units, a 65,000 square foot school, and 40,000 square feet of outdoor recreational space. It will also serve as the new home to the 65,000 square foot Great Oaks Charter School.

“This is a great project and I have to give a Hell of a lot of credit to Mayor Finch. That’s how you build a great community, housing and great schools,” said Governor Malloy during Tuesday’s press conference. “It really is how we get the economy moving.”

Developed by Bhagya Realty Holding LLC and Corvus Capital Partners LLC, the Cherry Street Loft project is revitalizing the highly visible block of industrial buildings that has been vacant and blighted for the past 30 years.

“We could not have done this project and we wouldn’t be standing here today without the help of Mayor Finch,” said Gary Flocco, Managing Partner for Corvus Capital LLC.

In the early 20th century, the buildings were home to the American Gramophone Company.

Construction is set to begin in January 2016. It is expected to take 20-24 months to compete.