Latest Auction for Stratford Plant Attracts One Bid
- November 27, 2011
The government’s latest attempt to dispose of the former Stratford Army Engine Plant in Connecticut yielded a single bid from a local developer for a proposed $1 billion resort.
The General Services Administration auction closed Nov. 18, and Hartmann Development LLC has not yet heard whether the government will accept its $1 bid, reported the Stratford Star. The 77-acre site was offered under innovative sales terms, with the winning bidder responsible only for the cost to clean it up.
The developer’s proposal — which depends on a $500 million investment from the federal government — calls for a hotel; a waterfront promenade with housing, shops and restaurants; movie and television production studios; a military aviation museum; marinas; an outdoor theater; and a spa. Stratford Mayor John Harkins, however, has criticized the project as unrealistic and wants the Army to clean up the property to jump start its reuse, reports the Connecticut Post.