Gov. Ned Lamont announced on Tuesday the decommissioned PSEG coal plant in Bridgeport has been sold to the Bridgeport Station Development. 

The private developer will take over ownership of the entire plant and begin abatement and demolition activities at the contaminated Bridgeport site. 

They say the entire complex will be torn down, including the well-known smokestack. 

That work is expected to begin before the end of the year and finish within three years.

The announcement comes after years of vacancy at the site, as well as several ownerships. 

It’s all been made possible through the Community Investment Fund’s $22.5 million investment.