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Rilling Signs Option to Purchase Agreement
Advances development for Mill Hill, Wall St., Smith St.
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Norwalk, CT | Added on August 28, 2014 At 05:25 PM

Norwalk officials are moving forward in revitalizing abandoned land and underdeveloped areas within the city. 

Local officials met at Norwalk City Hall Thursday morning to sign an Option to Purchase Agreement between the city and the developer of .5 acres of publicly owned land in order to move forward with the city's Redevelopment Plan.  

Mayor Harry Rilling joined Michael DiScala, managing member Head of the Harbor South, LLC (developer) to sign the agreement, in which the developer has 90 days to file with the Zoning Commission all applications necessary to complete the projects and obtain approvals. 

The total intended project, scheduled to begin next spring, will cost around $15 million, benefiting historic Mill Hill, Smith Street and Wall Street. 

"You'll see an amazing rendering of what this is going to look like at the lower end of East Wall and Smith Street," said Rilling. "This is something we have been working on for a few months now to make things happen and to get things moving." 

"We like the synergism that we're creating between ourselves and the historic Mill Hill Project, which is a gem for Norwalk and one of the best kept secrets, and tying these projects together will enhance both the Mill Hill experience and our project and all of Wall Street." 

It calls for the construction of two structures on the site containing 60 residential units and 6,000 square feet of office space, landscaping, pedestrian sidewalks, a waterfront boardwalk, plaza and pedestrian walkways between the development site and historic Mill Hill.  

"People are going to get excited about the Wall Street area again and they're going to start investing in the area again and I think this is, like I said the re-birth of Wall Street," said Rilling. 

 

"If all goes well we should be able to complete the project in 18 to 20 months," said DiScala. 

In exchange for the public property, the developer is expected to bring a minimum of $660,000 worth of public improvements and provide the City a public easement over Smith Street and 15 on site parking spaces for to the Historic Commission.

 


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