After months of delays, downtown Bridgeport garage owner pledges repairs soon

BRIDGEPORT — The New York City-based owner of a prominent downtown parking structure, the City Trust Garage, under pressure for months to upgrade what has been declared eyes a crumbling, hazardous, in a statement Wednesday said it is moving ahead with the work.

“Ownership has architectural and engineering plans that are finalized and is imminently selecting the contractor to award the project to,” read an email from a public relations firm representing Time Equities Inc. to Hearst Connecticut Media. “It expects to have the plans for the project filed with the city by the end of the week.”

But, according to City Hall, Time Equities has reneged on similar pledges in the past — as recently as earlier this summer, frustrating municipal officials who had welcomed the company’s aggressive entrance on the local development scene.


Time Equities bought three downtown sites — the City Trust block with its apartments, retail space and garage; the Arcade Mall on Main St.; and an apartment complex at 144 Golden Hill — in early 2019. The garage serves tenants but is also touted as a public parking site.

“It’s a substantial investment, and we are excited to have a company like Time Equities Inc. in Bridgeport,” Tom Gill, the city’s director of economic development, had said at the time. “It’s really positive to have a company of this caliber to come into Bridgeport and buy this portfolio.”