Norwalk, CT – Wall Street Recap Associates, LLC and the Norwalk Redevelopment Agency, project developers of Wall Street Place, a mixed-use housing and retail development effort located downtown at Wall Street and Isaacs Street, have closed on financing from all sources and confirmed that the construction phase is underway, with an official groundbreaking scheduled for this fall.
The project will provide 155 new mixed-income residential units in two buildings on a 1.53-acre parcel at 61 Wall Street and a .77-acre parcel at 17 Isaacs Street. The development will include more than 10,000sf of retail and community space and nearly 200 parking spaces.
“Getting the green light to begin construction after so many years of preparation is always the best time for everyone who works on a project like Wall Street Place,” said Todd D. McClutchy, president of JHM Financial Group, LLC, which is managing the redevelopment project. “We know this development will play a large part in the ongoing renaissance of Norwalk’s Wall Street district and we truly appreciate the community’s support, the city’s guidance, and the professionalism of everyone involved.”
“After many delays outside of our control that postponed the construction of this project, I want to thank my team for their continued persistence over many years to make sure the Wall Street Place project finally got over the finish line,” said Norwalk Mayor Harry W. Rilling.
Wall Street Place will include contemporary studio, one-, two- and three-bedroom flats and townhouses. The building’s architectural style will feature traditional elements inspired by nearby residential and commercial properties. Community spaces in the energy-efficient community will include a fitness center, rooftop sun deck, on-site covered parking, professional management, secure bike storage, a business center, clubroom with game area and kitchenette, and office space.
Senate Majority Leader Bob Duff, said, “I have been working on getting the Wall Street project moving, with the help of countless individuals, for almost my entire legislative career. The fits and starts have been frustrating for so many, but today we are finally seeing progress that will ultimately be transformative for the area. I am proud to have helped secure millions in state funding over the decades to help start this project. I want to thank our federal partners, Mayor Rilling and his whole team, Governor Lamont, Housing Commissioner Seila Mosquera-Bruno, DECD Commissioner Dan O’Keefe, former DECD Commissioners Lehman and Daum, and so many more who have been involved over the years. Norwalkers this is our time. Wall Street will be coming alive.”
