The
developer, General Growth Properties (GGP) stated that it will become
a place for educational use, performing arts, community and public
gathering.
The
master site plan for the 12-acre development located off Interstate
95 and West Avenue was presented to members of the Common Council
Planning Committee and Norwalk Redevelopment Commission, by GGP’s
representatives.
During
June, plans were presented by GGP for a 700000ft² predominantly
retail developments.
The
new plan, due to input from the community, has been modified to
include 780000ft² of restaurant and retail space, 180000ft² of
public space indoors, 5000ft² of space for educational purposes, a
hotel with 150 rooms and around two to four percent of the overall
square footage to be reserves for cultural and public use.
GGP
intends to place a formal request for the modification of the
existing Land Disposition Agreement (LDA) for this site by the end of
this year. The request asks for the allowance of 601000ft² of
office space, 125000ft² of restaurant and retail space, 250
apartments, and a hotel consisting of 145 rooms. Part of the concept
includes primary access on North Water Street, trolley, pedestrian
and bike trail improvements, and a huge parking garage.
Councilman
Bruce I Kimmel indicated that the main issue, which should be
considered immediately, is the proposed usage amendment. According
to GGP’s legal representative, William J. Hennessey, the office
development that was envisioned during 2007 has become unfeasible and
the residential market is currently reaching its capacity. He said
that in contrast, the retail demand is exceeding supply.
Councilman
Douglas E. Hempstead, the chairman of the Planning Committee, said
the plan may need a new LDA, instead of a modification to an existing
one.
Other
members of the committee focused their questions and comments on
design, hotel feasibility, nature of the restaurants and retailers
and traffic related to the proposed development.
An
aggressive timetable has been set by GGP for the $285m development.
It hopes to have approval by January 2016 and after 30 months of
construction, to reach an opening during mid-2018.
According
to GGP, this development could generated around $4.7m in permit fees
for the city, $941m in spending, $34m in income and state sales
taxes. It will also generate around 5545 of mostly local
construction jobs. It could eventually offer Norwalk around $4.7m in
annual property taxes and offer locals 2485 full-time jobs.
The
Redevelopment Commission has stated their intention to expedite
reviews of the proposed plan.
