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Time’s almost up on Ganim’s theaters deal

Brian LockhartDecember 19, 2018

BRIDGEPORT — Two-thousand and nineteen — a re-election year for Joe Ganim — is just days away, and the fate of one of hizzoner’s most ballyhooed projects is unclear.

In September, 2017 the City Council, at Ganim’s urging, approved a $400 million plan by New York-based Exact Capital to restore the Poli Palace and Majestic theaters downtown and the adjacent Savoy Hotel.

Residential towers — one 18 stories high — were also part of Exact’s vision.

The developer then had until next week to obtain financing, otherwise the city could reconsider.

According to sources, Exact executives were in City Hall Tuesday meeting with Ganim and his economic development staff.

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