Bridgeport’s Steelpointe project gets Midwestern backer

An Indianapolis-based company has partnered with Steelpointe’s father/son RCI development team to build and manage a previously announced luxury apartment complex there. Flaherty & Collins Properties, according to its website, is the “Midwest’s largest and most experienced” developer of multi-family properties, with over $2 billion in projects completed and a half-billion in development. The Christophs last winter obtained a 12-year tax cut from the city to build as many as 1,500 high-end apartments, and a $990,000 grant from the state in January to remediate the property. A power plant was once located on the land. The first phase of construction — 420 new rental apartments and 10,000 square feet of commercial retail space – represents a $200 million investment by RCI and Flaherty, according to the partners.

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