News and Events

The CDA Board of Directors approved the first allocation in the new Recovery Zone Bond program that will provide low cost financing for the Harbor Point project in Stamford.

Harbor Point is an 80-acre, transit-oriented Brownfield redevelopment located along Stamford’s historic waterfront. The 6 million square-foot project includes 4,000 residential units (including affordable housing), one million square feet of commercial and retail space, a community school, a full-service marina and more than eleven acres of parks and open space. The development is being built on the former sites of three abandoned factories and includes environmental remediation as well as extensive infrastructure upgrades. Located within a five-minute walk of the Stamford train station, this transit-oriented development project is expected to reduce traffic congestion as a result of its easy access to various forms of mass transit.

The $16 million allocation will lower the overall cost of the project financing and help complete the environmental remediation and infrastructure upgrades needed to support the development. The first phase of the project currently under way will create a short-term opportunity for as many as 10,000 jobs and up to 50,000 jobs with its long-term completion over the next 10 years.