Two Bridgeport City Council committees have approved a 12-year tax cut for a high-end apartment complex planned for the city’s East Side.
Bridgeport’s deputy economic director estimated the tax cut will save the Steelpointe Harbor project developer about 40%.
Supporters told the committees that the tax break is worth it because Steelpointe will attract future investment projects. The city’s East Side is also being looked at for gambling sites through the Connecticut Lottery.
Critics argued that the plan does not include enough affordable housing units in the state’s largest city. Rent prices at the 1,500-unit Steelpointe redevelopment site will run between $2,100 and $2,700 per month depending on size.
The full council is expected to approve the deal when it comes up for a vote.
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