POKO is proud
to announce that on June 15, 2005, the City of Norwalk, Connecticut
awarded POKO a 6.3-acre redevelopment site in the historic center
of the city as the result of a process that included 11
other development companies. In awarding POKO this site, then Norwalk Mayor, Alex Knopp, publicly
declared that "POKO
Partners' proposal will enliven and restore Wall Street as the
active historic downtown of Norwalk because the proposal included
solid urban design elements that recognized historical and cultural
assets within the district."
POKO’s plan will include a phased development of 380 apartments, 870 parking spaces, 60,000 sf of commercial and retail space, as well as the development of a small performing arts center. The residential part of Wall Street Place will be comprised of market rate and affordable rental apartments as well as condominiums. The residential component, as currently conceived, is a mixture of one, two and three bedroom apartments with a concentration of larger family sized apartments.
Wall Street Place presents a unique opportunity to shape and rebuild a substantial portion of what was once the traditional downtown of the City of Norwalk, CT. The project will be built in phases using a complex financing structure including Tax Free Bonds, Federal Low Income Housing Tax Credits, Federal New Market Tax Credits, and Federal and State Historic Tax Credits. POKO Partners LLC will be redeveloping this site as part of the City sponsored "Wall Street Redevelopment Plan".
The apartments
will include both rental and condominiums and in both categories the majority of the apartments will be designed with
large spaces, classic layouts, and 2-4 bedrooms. Up to one-third
of the apartments will be affordable to families earning less than 80%
of the area median income. Buildings will not exceed six stories
and most of the new construction will include ground floor retail
and below grade parking.
POKO will be recruiting new retail businesses that provide neighborhood goods and services and enhance the pedestrian-orientation of downtown Norwalk. Street furniture, landscaping, water features, outdoor cafes, and new signage will be designed to further enhance the historic urban character and attract pedestrians and shoppers downtown. New public open space will provide opportunities for meeting and gathering, passive and active recreation, and public entertainment. POKO's redevelopment plan will create an inviting sense of arrival and excitement for the historic town center of the City of Norwalk.
