NORWALK, Conn. -- Norwalk officials signed an agreement with Head of the Harbor South on Thursday to develop residential and office space in the area of Smith Street and Wall Street.
The agreement was signed by Mayor Harry Rilling and Michael DiScala, managing member of the Head of the Harbor South. Under the agreement, the city will vacate the half-acre property on Smith Street to Head of the Harbor South. The project calls for construction of two structures containing 60 residential units and 6,000 square feet of office space as well as landscaping, sidewalks, a waterfront boardwalk, a public plaza, a gazebo and pedestrian connections between the development and Mill Hill Historic Park.
DiScala said the project is expected to cost around $15 million. Construction is expected to begin in the spring and take 18 to 20 months to complete.
Rilling said the city and the developer worked collaboratively on the project's issues, including parking spaces for the Mill Hill site, which is being made Americans with Disabilities Act-compliant. They worked with the Historical Commission to resolve the issues. Of the 120 parking spaces on the site, 15 will be designated for Mill Hill.
The project is one of several in development for the Wall Street area, along with the POKO Partners affordable housing development and the revitalization of the Wall Street theater.
"People are going to start getting excited about the Wall Street area again, and they're going to start investing in the area, and I think this is the rebirth of Wall Street," Rilling said. "I'd like to thank Mr. DiScala and his group, coming to the table, working through this and making sure that we did all we could to get this project moving forward."
"We think that the Wall Street area will be a unique and sought-after area for people to live, work, play," DiScala said. "It's a great area and we also like the synergism that we're creating between ourselves and the historic Mill Hill project, which is a gem for Norwalk, one of the best kept secrets. Tying these projects together will enhance both the Mill Hill experience and our project and all of Wall Street."