Proposed projects in Norwalk move forward
Business Record Staff May 24, 2023 | 8:53 am
1 min read time171 wordsAll Latest News, Real Estate & Development
Norwalk’s Planning and Zoning Commission this week gave the green light to two proposed projects. They are:
- A Fairfield Inn and Suites, planned at Chatham Avenue and Hughes Drive. The $14 million project is proposed to include a four-story, 79-room hotel with a bar and outdoor pool. The project, being developed by Compounding Capital Holdings, is expected to have a minimum assessed value of between $8 million and $9 million and to generate a minimum in property taxes of $301,000 annually, according to information provided to the council. Construction is expected to begin in late summer with completion in about one year. The hotel will be the first in Norwalk.
- Norwalk Central Retail building, a 13,290-square-foot retail strip center being developed at by Diligent Development. The one-story building, with a maximum of eight bays, is planned along Chatham Avenue.
Both projects are part of Norwalk Central, a planned mixed-use development that is expected to include retail, restaurants, sporting and recreation venues, and public spaces such as trails, parks and an amphitheater.
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