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Property Details for Railroad Ave. & Cherry St.


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Cherry St. Lofts
239830
1325 Railroad Avenue BRIDGEPORT, CT 06605
1.97
41.1675635 / -73.2096953
4
Gardner, Frank
Gardner.Frank@epa.gov
617-918-1278


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Property Location



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Property Progress


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CAs Associated with this Property

CA NameCA #StateTypeAnnouncement Year
Greater Bridgeport Regional CouncilBF96196801CTAssessment2015


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Assessment Activities at this Property

ActivityEPA FundingStart DateCompletion DateCAAccomplishment Counted?Counted When?
Cleanup Planning11/01/2018Greater Bridgeport Regional CouncilN
Supplemental Assessment11/01/2018Greater Bridgeport Regional CouncilNFY22
Supplemental Assessment$2,550.0006/07/201909/30/2020Greater Bridgeport Regional CouncilYFY22
Supplemental Assessment$23,600.0006/07/201909/30/2020Greater Bridgeport Regional CouncilYFY22
Supplemental Assessment11/01/2018Greater Bridgeport Regional CouncilNFY22
Supplemental Assessment$12,616.0801/01/202007/31/2020Greater Bridgeport Regional CouncilNFY22
Supplemental Assessment$47,815.5106/07/201909/30/2020Greater Bridgeport Regional CouncilYFY22


Is Cleanup Necessary? Yes
EPA Assessment Funding: $86,581.59
Leveraged Funding: $149,300,000.00
Total Funding: $149,386,581.59


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Climate Adaption and Mitigation - Planning or Assessment

There is no data for Climate Adaption and Mitigation - Planning or Assessment.


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Contaminants and Media




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Cleanup Activities

There are no current cleanup activities.


Cleanup/Treatment Implemented:
Cleanup/Treatement Categories:
Addl Cleanup/Treatment info:
Address of Data Source:
Total ACRES Cleaned Up: 1.97
Number of Cleanup Jobs Leveraged:
EPA Cleanup Funding:
Leveraged Funding:
Cost Share Funding:
Total Funding:


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Climate Adaption and Mitigation - Demolition or Cleanup

There is no data for Climate Adaption and Mitigation - Demolition or Cleanup.


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Institutional and Engineering Controls

U


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Redevelopment and Other Leveraged Accomplishments

There are no current redevelopment activities.


Number of Redevelopment Jobs Leveraged:
Actual Acreage of Greenspace Created:
Leveraged Funding:


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Climate Adaption and Mitigation - Redevelopment

There is no data for Climate Adaption and Mitigation – Redevelopment


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Additional Property Attributes

Listed on the National Register of Historic Places, 1325 Railroad Avenue and 62, 72, and 80 Cherry
Street are part of a historic City block bordered by Railroad Avenue to the north, Cherry Street to the
South, Howard Avenue to the East and Hancock Avenue to the West. This area is included in the
City of Bridgeport's West End Redevelopment Area which has experienced job growth through green manufacturing companies in the Bridgeport Eco-Tech Park.

The development is located on four contiguous parcels totaling 1.86 acres and 167,460 sq. ft. of vacant industrial buildings which had been occupied by the former American Graphophone Co. from the late 1800s through the early 1900s. Subsequent occupancy included Lorraine Novelty manufacturing/Carnival Toy from 1939-1979, the Bridgeport Organ Co. and several other industrial operations.

Private developers have made great progress in their $147.8MM phased redevelopment plan, called the Hancock Avenue Project, which will consist of an adaptive reuse redevelopment of five structures (one of which will be demolished). Throughout the investigation, the developers worked with the National Park Service to approve demolition of 12 bays at building #1.

The block is divided three phases, the first two of which are complete with a development cost in excess of $95MM. The first of three projects include a fully leased, 85% occupied 157-unit apartment community. The project cost is approximately $68MM. The capital stack included financing from HIT, CHFA, DECD, and equity through the sale of Low- Income Tax Credits and Federal and State Historic Tax credits. The second project includes a 725-student charter school for grades 6 - 12 and 17 apartment units that house the school's tutors. The lease has been executed and has a term of 19 years. The buildings were completed in 2019. Total development cost is $27MM. Financing for these projects has come from DECD, Blu Hub, Capital for Change and both State and Federal Historic Tax Credits.

Success of these redevelopment projects to-date are encouraging for the success of the upcoming phase III of the redevelopment project: Hancock Avenue Partners 115-residential units (redevelopment of the four industrial buildings), estimated 10,000 sq. ft. of open space, and a 3,500 sq. ft. community building (conversion of the former boiler building) accessible to residents. Power for the project will largely come from a fuel cell (partially owned by the developer) that will provide power to the tenants at a 10% discount from the grid. The developer's intent to begin leasing the units before construction is completed utilizing the waiting list from Phase I. Income Averaging will also be utilized in order to maximize the LIHTC equity.
Hazardous


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Release 3.0.2