$200M waterfront development slated for Bridgeport’s Steelpointe Harbor

A $200 million, mixed-use development project with 420 rental units and 10,000 square feet of commercial retail space is slated for Bridgeport’s waterfront in Steelpointe Harbor. The project is a partnership between Indianapolis-based Flaherty & Collins Properties, RCI Group and the city of Bridgeport. Bridgeport Mayor Joseph P. Ganim said the project “will truly make a significant impact to benefit Bridgeport’s economic and community development potential. According to the project website, the city council in January 2022 approved a tax abatement for this phase of the Steelpointe Harbor project, calling for a two-year construction period and one year to secure tenants. The city would receive almost $24,000 a year in taxes for the first three years as the residential units are being built and leased. Following that timeframe, the city would then get $1.26 million in year four, with a 2% increase each year up until year 10, reaching $1.47 million.


Share This Article: