Connecticut TOD progresses

A $250m transit-oriented development (TOD) in the City of Norwalk has been targeting federal funding as it closes in on a preferred bidder.

Credit: Norwalk Redevelopment Authority

The city is looking to deliver a TOD scheme near its Metronorth Railroad station. The project includes development of a mixed use housing project with affordable units, as well as commercial and retail space along with a public parking garage and a public park.

US Senator Richard Blumenthal recently visited the Norwalk Redevelopment Agency to discuss its proposal for a RAISE grant from the United States Department of Transportation.

Brian Bidolli, executive director of the agency, said: “This funding and related public/ private partnership would demonstrate how transportation investment can enable sustainable and equitable development for all residents and commuters in Norwalk.”

Infrastructure Advisors LLC has been selected to provide P3 financial and procurement advisory services to the project, which is looking to optimize the public benefit and the transaction structure, given the funding and financing opportunities stemming from IIJA and the revamped TOD provisions in TIFIA/RRIF.