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“It’s not just a boatyard,” Pavia said. The deal would make way for the hedge fund Bridgewater Associates to move to Stamford from Westport, he said.
Stamford would receive $5 million in capital improvements for 2.4 acres of land to build the boatyard at 205 Magee Ave., Pavia said. There also would be a bigger animal shelter where it is currently located, he said.
The agreement must be approved by the Zoning Board before construction will begin.
Part of the $5 million will go toward adding more public and leisure space at Kosciuszko Park, dredging and dock improvements at two of the city’s marinas, and sponsoring Fourth of July fireworks for 2014 and 2015.
The boatyard property would be built on 6 acres and provide winter storage for 482 boats of all sizes; equipment to haul, launch and repair boats of all sizes; a 60-ton travel lift; and dry rack storage for 198 boats.
Pavia described it as equal to Brewer Yacht Haven, the most recent boatyard in the city, except the property will be smaller in size. Brewer’s was on 14 acres, but Pavia said 5 to 6 acres was an ideal size.
Building and Land Technology has worked with the state and the U.S. Army Corps of Engineers to modify the plan to address concerns, said John Freeman, a representative for the developer.
The plan would also ensure that a boatyard remains at the Magee Avenue location.
In addition to the 2,200 jobs Bridgewater is expected to bring to Stamford in 2016, the hedge fund is expected to create about 10,200 outside jobs, fund the completion of the Atlantic Street Underpass, add 2.2 acres of open space, three-quarters of a mile of new waterfront access, a marina with 110 slips, and restore a 6-acre estuary, Freeman said.
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