*Below is the extracted text from the RFEI, please visit the website link provided to view the full RFEI*

55 MLK Drive Redevelopment, Norwalk, Connecticut

5 Acre City-Owned Development Site

Prime Downtown Location in Norwalk, Connecticut

Transit-Oriented Development Opportunity

The Norwalk Redevelopment Agency (RDA) of the City of Norwalk ("City" or "Norwalk") is soliciting Requests for Expressions of Interest (RFEI) from qualified development companies and urban infrastructure and real estate investors for the redevelopment of 55 Martin Luther King Jr Drive ("55 MLK Drive" or "the site"). The site, a City-owned public parking lot known as the Webster Street Lot is centrally located in the heart of South Norwalk. This growing, diverse, and thriving neighborhood hosts a plethora of economic, social, cultural, and entertainment amenities. The site also boasts transit adjacency, greenway system linkages, a grocer neighbor, urban hotels within walking distance, a large indoor shopping mall nearby, and access to Interstate 95.

We are actively pursuing a public-private-partnership ("P3"), and leveraging City assets and financial resources to realize a transformative mixed-use, mixed-income, and transit-oriented urban development project that will add to the attractiveness and vitality of Norwalk's remarkable historic downtown. We look forward to your response and consideration.

Expressions of Interest will be reviewed by the RDA on a rolling basis throughout the 2025 calendar year, unless otherwise determined by the RDA. The RDA will begin reviewing Expressions of Interest the first week of January 2025, so respondents interested in receiving priority consideration are encouraged to submit their Expressions of Interest by Tuesday, December 31, 2024 electronically to the attention of Brian Bidolli: bbidolli@norwalkct.gov. The RDA will continue to accept and review Expressions of Interest until a preferred Developer or set of preferred Developers have been selected to proceed.

Executive Summary

Located in the center of Norwalk, Connecticut, the City and RDA envision the transformation of the existing Webster Street Lot at 55 MLK Drive into a vibrant, new, mixed-use, mixed-income, and transit-oriented community. The preferred development partner for the RDA will be able to deliver a project that embodies principles of sustainable design, realistic and market responsive development, and interactive community engagement.

Various real estate development firms have expressed interest in the property over the years, but a series of site and market constraints have made redevelopment difficult until now. Recently, the City of Norwalk adopted new zoning regulations for the site and the RDA has secured State and Federal funding for environmental remediation and infrastructure work that will address many of the site's constraints and finally enable a redevelopment project to proceed. Under current zoning, 430 residential units are allowed to be constructed by right on the 4.97-acre City-owned property.

The RDA is undertaking a competitive process to identify a qualified developer ("Developer") for the redevelopment of 55 MLK Drive. The RDA will select, through this initial RFEI process, interested development teams to receive a Request for Qualifications ("RFQ") and/or Request for Proposals ("RFP") from the RDA.

Over the last 10 years, Norwalk has attracted real estate investment and seen 2,000 new residential units in multifamily transit-oriented buildings constructed or under construction in Norwalk's urban center near the South Norwalk Train Station. More than a thousand additional apartments have been built or approved near the city's three other train stations. Fortune Magazine identified Norwalk as the best place in Connecticut for families and retailers like Bloomingdales, Wegman's, and Target having located stores in city over the last five years.

Project Goals G1. Broad community support

The voice of the community as part of the development process is imperative to the project's success. Garnering public and political support for a sustainable and equitable redevelopment project will be a key component for successful execution of a P3 development agreement. Enhancing the local economy is a key target.

G2. Public amenities and accessibility requirements

650 public parking spaces must be provided in the vicinity of 55 MLK Drive (Webster Street Lot) throughout the duration of construction of the redevelopment project, and upon project completion, in perpetuity on the 55 MLK Drive property. The City of Norwalk must maintain the revenue generated from those 650 public parking spaces. The redevelopment project must include a plaza, park, or other open space that is open to the public. The site, including the public park, public parking, and retail storefronts must be easily accessible to the public by sidewalks, paths, and roadways.

G3. Economically feasible; FMV Required

Current zoning regulations allow for the construction of 430 residential units on the 55 MLK Drive site. The RDA has secured funding to remediate the site and relocate underground utility infrastructure. The City must be paid fair market value ("FMV") for the right to develop the site.

G4. Transformative development

Cities like Norwalk rarely have a chance to redevelop nearly 5 acres of land in the heart of their downtown. The City envisions a transformative mixed use development project that will endure as a vibrant community for decades to come. The City-owned 55 MLK Drive property also abuts several privately-owned and underutilized properties that may be desirable for acquisition and redevelopment should this be deemed feasible by the preferred development partner. The City is looking to maximize the value to the community by leveraging private sector's experience, expertise and innovation.

G5. Affordable Housing Required

Any proposed redevelopment project on the 55 MLK Drive site that includes multifamily residential uses and buildings must comply with affordable housing requirements. These requirements include the City of Norwalk's Workforce Housing Zoning Regulation, State of Connecticut Department of Economic and Community Development Affordable Housing Requirement for Grant Programs, and a community goal of achieving at least 20% of the housing units dedicated as affordable.

Submission Requirements

The RDA seeks a highly qualified real estate and urban infrastructure development team to plan and execute the redevelopment of nearly 5 acres of City-owned land in the center of Norwalk. The Developer/team shall be capable of managing, in collaboration with the RDA, the land planning, environmental remediation, infrastructure development, site preparation, financing and project management that will be required to support vertical development.

For this RFEI, the RDA is requesting the following from interested firms/teams:

• Letter of interest identifying proposed Partners
• Entity's name, address, and contact information for key staff for all proposed Partners and team members
• Brief qualification statements highlighting key aspects of projects developed, challenges faced and how resolved including:
  • Projects of similar size and complexity
  • Urban infrastructure projects including parking garages
  • Projects entailing partnerships with government agencies in joint development on P3 or other similar transaction structure
  • Securing and deploying state and federal grants for projects
• Brief development concept expressing your initial vision for the development of the site including an analysis of feasibility and constraints affecting its potential. Please include preferred transaction structure/s and project delivery model/s.
• Questions relative to the project development parameters identifying support required from RDA.
• Confirmation of the respondent's ability to meet the requirements stated herein.

Evaluation Process

The RDA will develop a short list of development teams from which to interview and request furtherdiscussions and/ or solicit further qualifications, information, or proposals based upon the following information ascertained from the RFEI submittal:

• Qualifications and Experience of Developer — particularly those who have demonstrated, through past experience, that they are qualified to execute the delivery of a development opportunity with the complexity and magnitude of this site. Developer's understanding of and past experience with compliance with the requirements of the project funding sources including state and federal grants will also be considered.
• Project Vision and Development Approach — emphasis on those who best articulate their creative vision for the implementation of a world-class mixed-use development at 55 MLK Drive.
• Project Feasibility and Development Team Capacity — those who best demonstrate their financial capacity to develop a project of this scope and size.
• Reputation — those who have a proven track record of having successfully executed and completed P3s built upon trust, integrity, and a desire to achieve a project that is a win-win for the Developer and the City.

Additional Resources

Prior to submitting an Expression of Interest, respondents are encouraged to review any and all publicly available sources of information regarding 55 MLK Drive, Webster Street Lot, and the surrounding area.

The City's "site file" contains but is not limited to the following information:

• Property Field Card - 55 Dr. Martin Luther King Jr. Drive
• Preliminary Title Search (for reference only)
• 55 MLK Drive Site Survey
• Current City of Norwalk Zoning Regulations
• City of Norwalk Workforce Housing Regulation
• 2004 Webster Block Planning & Urban Design Study
• 2016 South Norwalk TOD Redevelopment Plan
• 2016 Plan for Webster Street Block
• Norwalk Plan of Conservation and Development 2019-2029
• 2022 South Norwalk Station Area Study
• 2024 Property Appraisal - 55 MLK Drive

Miscellaneous Provisions

Reservation of Rights

The City of Norwalk and Norwalk Redevelopment Agency reserve the right to:

• Cancel or withdraw the RFEI prior to or after the submission deadline;
• Modify or issue clarifications to the RFEI prior to the submission deadline;
• Reject any submission it deems incomplete or unresponsive to the submission requirements;
• Consider a submission that is in non-compliance with the submission requirements if, in the sole discretion of the City and/or the RDA, such is considered to be in the best interest of the City and RDA;
• Reject all submissions that are submitted under the RFEI;
• Modify the deadline for submissions or other actions; and
• Reissue the RFEI, a modified RFEI, or a new RFEI, RFQ, or RFP, regardless of whether any submissions have been received in response to the initial RFEI issuance.

Notice of Modification

The RDA may post on the Norwalk Redevelopment Agency's official website (norwalkredevelopmentagency.org) notices or information regarding cancellations, withdrawals, modifications to deadlines, and other modifications to this RFEI. Developers shall have the obligation to check the website for any such notices and information, and the RDA shall have no duty or obligation to provide direct notices to Developers.

Ownership and Use of Submissions

All submissions shall be the property of the City of Norwalk and the RDA may use any and all ideas in any submission, whether the submission is selected or rejected.

Further Efforts

The RDA may request that Developers clarify their submissions and/or submit additional information pertaining to their submissions. The RDA may request best and final submissions from any Developer and/or request an oral presentation from any Developer.

Non-Binding

The selection of any Developer by the RDA indicates only an intent by the RDA to continue with the selection process and/or negotiate and the selection does not constitute a commitment by the City of Norwalk or RDA to execute a final agreement or contract with the Developer. The RDA shall have no binding legal obligation to a selected Developer unless and until a full and final agreement, and all ancillary documents contemplated therein and thereby, is executed by all parties.

Non–Liability

By participating in the RFEI process, the Developer agrees to hold the City of Norwalk, RDA and its officers, employees, agents, representatives, and consultants harmless from all claims, liabilities, and costs related to all aspects of this solicitation.