State funding is on the way to Fairfield to help turn a long-time vacant property into a housing and retail site.

Gov. Ned Lamont announced Friday $3 million in state funding that would go toward renovating the vacant lot next to the Fairfield Metro Station.

The nearly 5-acre site at 81 Black Rock Turnpike was once home to the Bullard Machine Tool Company. Lamont said there are plans to transform it into mixed-use development, which would include 240 housing units, retail, work space and public amenities.

Lamont said the $3 million for Fairfield is part of $24 million in state grants being dispersed among several cities and towns to remediate 22 blighted properties.

Plans to redevelop the area surrounding the Fairfield Metro Station have been in the works for two decades. In September, the town broke ground on a project to build another mixed-use site, which would include a hotel, several apartment buildings and other amenities, at 219 Ash Creek Boulevard. A brewery is also expected to open at the former Planet Fitness at 111 Black Rock Turnpike.

The governor was joined by Fairfield First Selectwoman Brenda Kupchick, among other state and local leaders, for Friday's announcement.