City of Bridgeport AgendaPacket City Council Meeting 2026-05-04
Land Development Pact Awarded to Douglas Allen Real Estate LLC
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Description
The City of Bridgeport awarded a Land Development Agreement to Douglas Allen Real Estate LLC for the sale and redevelopment of 157 & 171 Golden Hill Street. The developer will acquire the parcels for $250,000 and commit $6 million to a new 74-unit building, with affordability covenants and completion milestones set by the city.
Contract Details
Contract Amount
$250,000
Vendor
DOUGLAS ALLEN REAL ESTATE LLC
Agency
City of Bridgeport, CT
Contract Type
OTHER
Document Date
May 4, 2026
Contract Term
Closing not later than ninety (90) days after execution; affordability term minimum 10 years; substantial completion within 24 months of commencement
Renewal Date
2036-05-04
Renewal Info
Affordability covenant for greater of 10 years or as required by financing; substantial completion required within 24 months; transfer restrictions and compliance reviews included.
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