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U.S.
General Services Administration
April
14, 2008 Contact: Paula M. Santangelo
(617) 565-5800
Paula.santangelo@gsa.gov
Point
Stratford Winning Bidder
Hollywood East/Area 51 New Owner of Property
Stratford, CT - Following an exciting online bidding
process the General Services Administration (GSA)
announced today that Point Stratford, formerly
known as the Stratford Army Engine Plant, has
been awarded to Hollywood East/Area 51 of New
Haven CT for the high bid of $9,612,000. The 1.7
million square foot facility on 78 acres was selected
for closure 12 years ago in the BRAC (Defense
Base Closure and Realignment Commission) Process.
The waterfront property, located near three exits
of I-95 in Stratford, Ct and adjacent to Sikorsky
Airport, was offered on an "as is" basis,
transferring all environmental remediation obligations
to the buyer.
The
winning bidder, Hollywood East/Area 51, intends
to develop the site as an industry cluster for
digital media and motion pictures; an industry
that is now growing rapidly in Connecticut. Hollywood
East/Area 51 has assembled a team of highly qualified
professionals to manage the remediation and redevelopment
process.
"We
are very excited about Point Stratford,"
said Allen Christopher, President of the company.
"With Connecticut now having the most aggressive
production tax incentives in the U.S., the state
needed an anchor facility that would enable digital
media and motion picture producers from all over
the world the ability to work here year round.
Our plan calls for approximately 30 soundstages
ranging in size from 2,500 sf to 45,000 sf with
support services, production offices and commissary
all located within the same facility. Point Stratford
will be one of the largest studio complexes in
the United States and we believe that it will
act as a magnet for significant new revenue and
the creation of thousands of jobs".
The
Army and GSA are pleased with the results of the
competitive public process and the significant
efforts undertaken by the successful bidder to
understand the remediation requirements and the
Town of Stratford's redevelopment goals for this
idled facility. All of the stakeholders in this
process have been extremely cooperative and have
contributed greatly to the success of this effort.
A press conference regarding Point Stratford is
now being planned.
GSA
provides a centralized delivery system of products
and services to the federal government, leveraging
its enormous buying power to get the best value
for taxpayers. Founded in 1949, GSA manages more
than one-fourth of the government's total procurement
dollars and influences the management of $500
billion in federal assets, including 8,600 government-owned
or leased buildings and 208,000 vehicles. GSA
helps preserve our past and define our future,
as a steward of more than 425 historic properties,
and as manager of USA.gov, the official portal
to federal government information and services.
GSA's mission to provide superior workplaces,
expert technology solutions, acquisition services,
purchasing and E-Gov travel solutions and management
policies, at best value, allows federal agencies
to focus on their core missions.
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