Starwood Ceruzzi breaks ground on Fairfield Center.

Fairfield First Selectman John Metsopoulos and Starwood Ceruzzi President Louis Ceruzzi joined community and business leaders today at a ground-breaking ceremony for Fairfield Center, a $16 million redevelopment on the site of the former Fairfield Department store (and an adjacent parcel) which will result in the creation of 80,000 square feet of retail, office space and parking, enhancing the economic vitality of downtown Fairfield.

The site is located on the corner of Reef Road and Boston Post Road in the center of town. The former Fairfield Department store site consists of 40,000 square feet. The former Applebaum Property, now housing single-story retail facilities, consists of 20,000 square feet; and a second-story expansion will add another 20,000 square feet. This will generate significant added tax revenues and jobs to Fairfield's downtown.

The adaptive re-use of the two buildings - which will include a new venue for name-brand national retailers - will become the centerpiece of a successful Fairfield downtown revitalization. Combined, the two buildings will have the critical mass necessary to attract major quality retail and corporate tenants for downtown Fairfield's future. Borders Books, Music and Cafe has signed a letter of intent to serve as the 24,000 square-foot retail anchor for the development site. Completion is projected in October 2000.

"It gives me great pleasure, .as one of my first acts as First Selectman, to help break ground on this important project," said First Selectman Metsopoulos. "Not only will this bring about the revitalization of a long dormant site, it will also go a long way in bringing new economic vitality to downtown Fairfield."

The Fairfield Center redevelopment has been over two years in the making, with the ultimate goal of transforming these properties into a thriving, lively retail center that will provide a boost to Fairfield, provide jobs to area residents and generate tax revenues for the Town.

However, a series of unfortunate lawsuits and delay tactics slowed down the efforts to reinvigorate the area. The Connecticut Appellate Court recently ruled against opponents of the project, paving the way for the ground-breaking.

"The time lost in redeveloping the downtown area may have delayed the benefits of the project, but did not dampen the enthusiasm for undertaking this development effort. We remained focused on this project because we were all convinced that it is a key component to the revitalization of Fairfield," said Ceruzzi.

"The addition of Borders will provide residents with a new source for educational, literary and entertainment resources, Ceruzzi continued. "Borders Books, Music and Cafe begins the transformation of the downtown area into a combination education, entertainment and business center where individuals can meet for coffee in the morning, hold meetings midday and have a place to unwind at the end of a long day."

Starwood Ceruzzi is an affiliate of Starwood Capital Group, one of the most active real estate investors nationwide and owners of Westin Hotels and ITT Sheraton Corporation.

With more than 5 million square feet of space in its portfolio, Starwood Ceruzzi LLC is one of the leading developers of retail centers in the U.S.