Flaherty & Collins, RCI Group Move Forward With $1 Billion Urban Waterfront Redevelopment

A $1 billion transformation is taking shape on Connecticut’s coastline as The August at Steelpointe Harbor, Phase One of the Steelpointe Harbor development hailed as New England’s largest mixed-use waterfront development, moves steadily toward a 2026 debut with pre-leasing expected to begin on September 8, 2025. Spanning more than 2,000 units alongside retail, dining, and public spaces, the Flaherty & Collins and RCI Group-led project ranks among the most ambitious urban waterfront redevelopments currently underway in the United States.

Construction progress is well underway for The August at Steelpointe Harbor. The above aerial photo was taken on Aug. 7, 2025.

Strategically positioned along Long Island Sound with access to major highways, commuter rail, and ferry service, the Steelpointe Harbor development integrates high-density residential living with destination retail and hospitality, bringing the live-work-play model to an emerging urban market. Other features of the development include restaurants, retail, office space, and a 141-room Residence Inn by Marriott. The development is just over an hour commute by train to Manhattan or ferry ride to Long Island.

“Phase One is coming along well, and the momentum has been great,” said Ryan Cronk, Principal and Lead Developer at Flaherty & Collins. “Construction is on schedule and we’re aiming to open the second quarter of 2026.”

Development of Phase Two has commenced. Plans introduce Bridgeport’s first newly constructed vertical concrete tower, topping out at 15 stories. This phase will bring an additional 300 units, bringing the total unit count of Phase One and Two to 720 units, alongside a 350-space parking garage. Additional commercial space within this phase will be featured near the community’s primary entrance.

Phase Two will feature a 15-story tower on the waterfront.

The August will feature a total of 10,000 square feet of commercial space. Initial tenants include Penny Cha Bubble Tea, offering handmade boba and fresh, house-made syrups, and Frenchies Coffee Bar, a local Connecticut favorite known for sourcing high-quality coffee beans and inventive beverages served in a warm, inviting atmosphere.

To learn more about The August at Steelpointe Harbor, www.theaugust.com.