Steelpointe Harbor hits stride
In Bridgeport, Connecticut, one of the most ambitious and unique waterfront developments in the nation continues to take shape.
The project is Steelpointe Harbor, a $750 million superregional, mixed-use project overlooking Bridgeport Harbor and Long Island Sound. Developed by Bridgeport Landing Development, LLC (a subsidiary of Miami-based RCI Group), Steelpointe Harbor sits on an 54-acre site in Southern Fairfield County space formerly occupied by a power plant and manufacturing businesses. The completed projected will include over 750,000 square feet of specialty and outlet retail; a wide range of dining and entertainment options, including a 12-screen Cinépolis dine-in theater; a 120-key Hampton Inn and Suites; 1,100-1,500 mid-rise and high-rise residential units, class A office space and a 200-slip full service deep-water marina.
Steelpointe’s $50 million first phase, which officially opened in fall 2015, includes a 150,000-square-foot Bass Pro Shops anchor (the only Connecticut location for the iconic outdoor brand), Starbucks Coffee, Chipotle, and T-Mobile.
Notable recent progress includes a series of significant infrastructure improvements, including the construction of a 1,600-ft. harborfront bulkhead, which is nearing completion. The new retaining wall was built by driving 686 sheet piles (each 50-ft. long) 30-ft. into the water – an extraordinary undertaking that has literally and figuratively paved the way for construction to begin on Phase 2. That construction, slated to begin this summer, includes the Harbor Walk pedestrian promenade, a 50,000-sq.-ft. Harbormaster’s building, and the new marina. Phase 2 also includes the construction of Cinépolis Luxury Cinemas’ 50,000-sq.-ft., 1,100-seat theatre (the first Northeast location for the Mexico-based theater brand, currently the world’s fourth largest cinema chain) and the new Hampton Inn hotel, as well as the Outlets at Steelpointe Harbor. The project’s outlet retail component will ultimately make up about 300,000 of the project’s retail square footage.
While Steelpointe’s diverse retail and restaurant options and intriguing mix of state and regional firsts will clearly be a draw, the project’s signature feature is the waterfront itself. Steelpointe Harbor is the first navigable lighted deep-water harbor north of Manhattan, a fact that will make the 200-slip full-service marina a popular home for chartered vessels and privately owned recreational craft.
A combination of superior regional accessibility, great visibility, and an unusually large trade area is also working in Steelpointe Harbor’s favor. More than 5.5 million people live within an hour’s drive of the project, and I-95, which runs along the northern edge of the site, includes two dedicated exits, one at each end of the project. Just minutes away, Bridgeport station offers direct rail travel to and from Manhattan’s Grand Central Station and Penn Station. The Bridgeport-Long Island Ferry that runs between Bridgeport and Port Jefferson, New York already offers vehicular and pedestrian service to more than 850,000 riders annually. With close to daily 20 round-trips, that volume is expected to spike to 1.4 million with the imminent relocation of its Connecticut terminal to a new location immediately adjacent to Steelpointe.
“There is nothing like Steelpointe Harbor in the entire country,” said Douglas Jerum, a partner at Ferrara Jerum International – the retail real estate consulting group handling Steelpointe’s leasing. “From our waterfront and marina to our detailed design and strong mix of tenants, uses and public spaces, we are delivering something very special to this region.”