Southport Green, an extraordinarily expensive new urban pocket

Southport Green, an extraordinarily expensive new urban pocket neighborhood in Fairfield, Connecticut, is again trying to attract homebuyers — two years after the project was foreclosed on by TD Bank. This time, asking prices for the high-quality, traditional-style dwellings — on a 4.7-acre site between a Metro North commuter rail station and Interstate 95 — are substantially lower. Prices have been slashed from $700 or more per square foot in 2007 to a current range of $310 to $406 per square foot, The New York Times reported Aug. 2. The project (see Oct. 2006 New Urban News) failed primarily because its prices were too high, even for an area known for expensive real estate, and because its amenities — including an inn and a restaurant — had not been put into operation before the attempt to sell houses and condo units began.