BRIDGEPORT - Bridgeport Mayor Bill Finch announced Tuesday that work on the long-awaited Steel Point project is expected to begin next summer.

The builder, Bridgeport Landing Development, says the project will increase the city's tax base, create jobs and open up access to the Long Island Sound waterfront.

The city has been trying to develop Steel Point for the past two decades, but the plans have always fallen through. This time, Finch says even the economic downturn won't derail the project.

The Bridgeport City Council has to give the project its final approval before the developer can begin purchasing land at Steel Point.