Westport Hedge Fund Plans Renovations of Headquarters

Representatives for the Westport-based hedge fund Bridgewater Associates have submitted a pre-application with the Planning and Zoning Commission for renovations on the fund’s Glendenning Place headquarters.

The plan was reviewed by the commission at its meeting Thursday. The plan involves renovation of two of the five buildings on the 15.84-acre campus at 1 Glendenning Pl., according to The Westport News.

The plan includes a proposed a two-level underground parking garage that would eliminate 160 above ground parking spaces — an area that would be transformed into a ‘great lawn,’ according to The News.

The proposal comes about 10 months after Bridgewater decided against relocating its headquarters to Stamford. The hedge fund, founded by Greenwich resident Ray Dalio, manages $150 billion in assets from its Westport headquarters. On June 27, the firm announced it wouldn’t build a new $750 million headquarters on developer Building Land Technology’s (BLT) site in Stamford.

Town officials said it will be months before a formal plan is submitted to the Planning and Zoning Commission.

The Westport News story can be found here.

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