Robert Smith of Smith Craft said the project would extend from Flagship Marina to Riverside Drive, comprising about two acres. He said the company has entered into a long-term agreement with the McNeiece family, which owns all of those properties.

  Smith Craft had said in January it contacted 47 property owners in Devon, looking to acquire land to create a large-scale project. The company owns 19 buildings downtown and is the city's fourth-largest taxpayer. The new project is intended to mimic the Schooner Wharf complex near Lisman Landing.

When asked whether the project is all Smith Craft is looking to build in Devon, Smith responded: "Right now we're focused on this project."

Smith said an application for the project would be filed in six or seven months. He said the project will include municipal and on-street parking for Riverside Drive. Additionally, marina renovations, such as new docks and dredging, will be completed.

The development will need approval by many state and local boards.

Planning and Zoning Board member Nanci Seltzer, R-2, said the marina is in a district zoned specifically for "marine business." Seltzer said nothing else could be built without a zone change. She also noted that the area along Bridgeport Avenue is known as a CBD-2 zone, which means that any residential buildings built on that street must reserve their first floor for commercial space.

Seltzer would not speak to the likelihood of a zone change, but did say it would make for an "interesting discussion."

State Speaker of the House and Devon Revitalization Committee Co-Chairman James A. Amann said Smith Craft should be commended for pouring private funds into Devon, which is critical for its revitalization.

"It's exactly the kind of unit we're looking for in Devon," said Amann. "This is huge for Devon."

A Flagship Marina manager could not be reached for comment. Smith said this development would provide significant progress for his company.

"We have been searching for our first project in the Devon area, and to find one that includes all the physical attributes of the Flagship Marina is not only great for Smith Craft, but great for the Devon area," he said.

Revitalization of the "Village of Devon," as the area has been dubbed, was jump-started in 2002 with $1.2 million from the state Department of Economic and Community Development. Legislation before the General Assembly's Planning and Development Committee would authorize an additional $3.5 million in state bonding to complete Devon's restoration.

Some of the money would be used to entice businesses to Devon. Planned streetscape improvements along Bridgeport Avenue have been completed. Revitalization efforts include installation of a large, free-standing 20-foot clock tower in Overlook Park and "Welcome to Devon" signs, both designed to create a welcoming gateway to the village.

In March, after Smith Craft announced it intended to build a large-scale project, the Sewer Commission approved allowing 7,000 gallons of sewage per day, up from 3,500, for all spots on Bridgeport Avenue from Washington Bridge to Naugatuck Avenue.

Register Correspondent Neal McNamara and Milford Bureau Chief Brian McCready contributed to this story.