Massive environmental project, completed under budget and ahead of schedule, unlocks historic 77-acre Housatonic property for one of Connecticut’s largest mixed-use redevelopment opportunities.
STRATFORD, CONN. [August 6, 2026] – Governor Ned Lamont joined the Point Stratford Renewal team, Stratford Mayor David Chess, U.S. Rep. Rosa DeLauro, Connecticut Department of Energy & Environmental Protection (DEEP) Acting Commissioner Emma Cimino and a bevy of officials from the U.S. Army, U.S. Army Corps. of Engineers, and U.S. Environmental Protection Agency (EPA), to celebrate a major milestone in the cleanup of one of the largest waterfront brownfield revitalization efforts currently underway in Connecticut.
The complex, known by many in Stratford as the Avco Lycoming site, was once home to Sikorsky, which manufactured seaplanes and its first helicopters here. It was later owned by Chance Vought Aircraft, which manufactured the iconic Corsair fighter-bombers during World War II.
The Connecticut-based Point Stratford Renewal team was selected in 2024 by the U.S. Army to remediate and redevelop the long-vacant site. It is led by Jim and Peter Cabrera, of Greenwich-based Eagle Ventures, which focuses on distressed properties, and Ted Lane, founder of New Canaan-based Cannon Green Advisors, a firm specializing in brownfield redevelopment.
“This ground has always been a place of innovation, and the tidal flats cleanup carried that tradition forward, because this remediation was itself a stroke of innovation,” said Jim Cabrera, a principal of Point Stratford Renewal (PSR), the project developer.
Cabrera said the cleanup—originally estimated to take four years at $135 million—was completed in 18 months for $74 million—and involved the U.S. Department of Defense, U.S. Army, and Army Corps of Engineers, the U.S. EPA, Connecticut DEEP, and the Town of Stratford.
Cabrera added that the reuse of tidal flats material on upland portions of the property will provide coastal resiliency for the site redevelopment, explaining that the beneficial reuse was made possible by a targeted brownfield remedy approved by DEEP.
“This is a pivotal moment for this project, for Stratford and for Connecticut,” explained Stratford Mayor David Chess. “We have big plans for this site to become a destination offering opportunities to live, work, and play for generations to come. The first step on that path is restoring the tidal flats, and we couldn’t be more grateful to PSR and all of our federal and state partners for what they’ve accomplished. Not only were they undeterred by this daunting task, but they completed it on time and under budget. I look forward to many more exciting announcements to come as we transform this incredible property.”
“Reaching full completion on the tidal flats remediation is a monumental step forward for both Point Stratford Renewal and the entire Stratford community,” said PSR Principal Ted Lane. “Seeing this massive ecological cleanup cross the finish line after having secured this property under contract more than 12 years ago is incredibly rewarding. We are profoundly grateful to our partners at the U.S. Army, the U.S. Army Corps of Engineers, and our environmental contractors at ENTACT for their rigorous dedication to restoring this vital waterfront ecosystem.”
“Generations of Stratford families have driven past this waterfront without ever being able to reach it, which this remediation unlocks, said Peter Cabrera, PSR Principal & Executive Vice President. “We look forward to reconnecting the community with the waterfront in the near future; providing a clean river’s edge and a waterfront the public can finally enjoy alongside a mixed-use development positioned to drive profound economic development to the area. We are honored to stand here today to celebrate this shared milestone with our partners and stakeholders.”
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About the former Army Engine Plant
The complex, known by many in Stratford as the Avco Lycoming site, was once home to Sikorsky, which manufactured seaplanes and its first helicopters here. Later, it was owned by Chance Vought Aircraft, which manufactured the iconic Corsair fighter-bombers during World War II. From 1951 until the 1990s, Avco Lycoming made engines for aircraft and military tanks for the U.S. Air Force and U.S. Army at the government-owned plant. The last engine manufacturing operation on the site ceased in 1997. The remediation process involves the U.S. Department of Defense, U.S. Army, and Army Corps of Engineers, the U.S. Environmental Protection Agency, Connecticut Department of Energy and Environmental Protection, and the Town of Stratford.
About Point Stratford Renewal ( www.pointstratford.com)
The Connecticut-based Point Stratford Renewal team acquired the property in 2024 after being selected by the U.S. Army to remediate and redevelop the long-vacant site. It is led by Jim and Peter Cabrera, of Greenwich-based Eagle Ventures, which focuses on distressed properties, and Ted Lane, founder of New Canaan-based Cannon Green Advisors, a firm specializing in brownfield redevelopment. Both men have played key roles in major redevelopment projects in Stamford, including Harbor Point, the large mixed-use waterfront transformation of the city’s former industrial South End.