An architect's rendering shows The August 420-unit development planned for Bridgeport's Steelpointe Harbor development. Image courtesy of Flaherty & Collins Properties

A giant luxury rental development planned for Bridgeport’s waterfront expects to break ground soon after getting state and federal approval for its site cleanup plans.

The Connecticut Post reports that developers of the 420-unit project in the city’s Steelpointe section hope to break ground within 50 days, and are currently in the bidding process to select a general contractor.

If financed, the project will be the first of 1,500 apartments and a hotel developers Robert Christoph Jr. and Robert Christoph Sr. plan on the peninsula a stone’s throw away from downtown Bridgeport and its Metro-North train station. The area has already seen a Bass Pro Shops and a luxury restaurant developed.