Bridgeport
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Bridgeport, nicknamed The Park City, is a city located in southeastern Fairfield County, Connecticut, United States and is the largest city by population in Connecticut. According to 2005 Census Bureau estimates, the population of the city is 139,008. The city is the core of the Greater Bridgeport area, which is considered part of the labor market area for New York City. The city has two hospitals, Bridgeport Hospital and St. Vincent’s Medical Center.
Like other northeastern cities that have fallen on hard times, Bridgeport is often identified as a suitable candidate for urban renewal. Most talk of urban renewal centers on a fifty-acre peninsula in Bridgeport Harbor, known as Steel Point. One proposal called for Las Vegas developer Steve Wynn to build a large casino on the property, but for a variety of reasons, that project failed to materialize. More recently, the City of Bridgeport has taken steps to acquire the last remaining parcels in private hands. Present plans call for the investment of approximately $1 billion to create a mixed-use development with several thousand apartments and condominiums and approximately 1 million square feet of retail space. The designated developer is Midtown Equities LLC of New York City.
In addition, more than 20 historic buildings in the downtown core, including the Art Deco Citytrust Building and the late 19th Century Arcade Mall & Hotel, are in the process of being renovated to include residential units and retail spaces by Urban Green Builders of New York City.
One obstacle to urban renewal is Bridgeport’s property tax regime. Tax rates in the city are among the highest in the country.