Hartford Business Journal

HARTFORDBUSINESS.COM | FEBRUARY 23, 2026 5 DE AL WATCH same year, PSR won a bid from the U.S. Army — which had owned the site since the 1970s — to acquire, remediate and redevelop the former Stratford Army Engine Plant. The property then sat largely idle for more than a decade as PSR and the Army worked through a remedia- tion plan for the site's 77-acre upland portion, which contains the former factory buildings, and 46 acres of contaminated tidal flats along the Housatonic River. During that period, Cabrera joined PSR in 2021, after Loureiro Engineering Associates exited the project, and Sedgwick Partners and Development Resources were bought out by Eagle Ventures and Cannon Green Advisors. After years of regulatory and envi- ronmental planning, PSR entered into an environmental services cooperative agreement with the Army in April 2024 that requires the developer to remove asbestos and demolish most of the buildings at a cost of about $44 million. Under the agreement, PSR is also responsible for 15% of the $12.6 million cost to remove PCBs from the site. Eagle Ventures and Cannon Green Advisors are funding these cleanup costs through cash on hand, Cabrera said. A separate agreement requires the Army to cover the remaining PCB abatement costs and to spend $74 million remediating the tidal flats. That work includes dredging about 233,000 tons of contaminated silt and placing roughly 200,000 tons of the material on the property for use as fill. As part of that effort, the Army hired Eagle Ventures to construct a 3,000-foot-long sheet pile wall to contain the contaminated silt during dredging. In April 2024, the Army also conveyed the property to PSR for $1 under the terms of the remediation agreements. The state has also been involved in the project, providing early funding to support remediation work. Point Stratford Renewal has received $400,000 in brownfield remediation funding and $500,000 in Urban Act grant program support from the Department of Economic and Commu- nity Development to help offset cleanup costs, agency spokesman Jim Watson said. The developers are seeking addi- tional support through the state's Brownfield Municipal Grant Program, which could provide up to $6 million, Cabrera said. Development plans Cabrera said about 20 acres of the property south and east of Sniffens Lane — an area that has already been cleared of buildings and asbestos — is ready for redevelopment. What that will look like, however, remains unsettled. Point Strat- ford Renewal has not yet decided whether the site will be developed for industrial use or as a mixed-use waterfront project. "We haven't really made a full determination yet on what we're going to do, so we're marketing it both ways," Cabrera said. With the end use still undecided, Cabrera said PSR has yet to determine its redevelopment investment and expects to bring in a capital partner once plans are finalized. While the town has approved an industrial redevelopment plan for the property, Stratford Mayor David Chess, who took office in December, has been pushing for a mixed-use vision that could include a theater, hotel, restau- rants and a boardwalk. Chess said PSR initially envisioned a mixed-use project, but later shifted toward a simpler and less costly plan involving three large warehouse build- ings. Developing what would be among the largest warehouses in the state on a waterfront site, he said, would be a missed opportunity. Peter Cabrera, Jim Cabrera and Ted Lane, principals of Point Stratford Renewal, stand at the end of the 800-foot dike at the former Stratford Army Engine Plant site. HBJ Photo | Michael Juliano Continued on next page CONSTRUCTING EXCELLENCE PDS ENGINEERING & CONSTRUCTION, INC 107 Old Windsor Road Bloomfield, CT 06002 860.242.8586 | pdsec.com Connecticut Children's Lobby | Danbury, CT Focus On: Healthcare Connecticut Children's Specialty Care Center, Danbury, CT PDS successfully completed a 3,000-square-foot medical fit-out for Connecticut Children's Specialty Care Center in Danbury. This specialized pediatric physical therapy facility underwent a comprehensive transformation, beginning with a full interior demolition followed by the installation of high-end interior finishes and upgraded mechanical, electrical, and plumbing systems. The modern clinical environment now features a state-of-the-art gym, private consultation rooms, offices, and optimized staff and patient amenities.

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