Even though the world's largest hedge fund, Bridgewater Associates, has decided to nix a state-backed $115 million deal to relocate to the site of Stamford's former boatyard, environmentalists and others are still concerned over the future of that 14-acre waterfront site.
Stamford activist group Save Our Boatyard celebrated this past weekend Bridgewater Associates' decision to back out of a state economic development incentive package to relocate to a 14-acre waterfront parcel in the city's South End. That property, formerly known as Brewer's Yacht Haven had served as the city's boatyard for 100 years until its owner, developer Building and Land Technology, decided to tear down the boatyard in late 2011 and not renew the operator's lease. Maureen Boylan of the activist group says they're now focused on getting a boatyard rebuilt at the site.
Connecticut legislative leaders agreed on Wednesday that it’s important to keep high paying jobs in the state. But they don’t agree on the best way to do that. At an event hosted by the Business Council of Fairfield County, Republican House Minority Leader John McKinney and Democratic Senate President Donald Williams disagreed about the wisdom of providing millions of state funds to keep hedge fund Bridgewater Associates in the state.
On Tuesday night, the developer of Bridgewater Associates' proposed headquarters in Stamford withdrew a controversial license agreement needed to secure a deal for the hedge fund to complete its state-supported move from Westport to Stamford.