NORWALK, CONN. — Toll Brothers Apartment Living and Harris Realty Co. will develop Piper, an opportunity zone project in Norwalk. Piper is being financed by debt and equity arranged by Toll Brothers’ in-house finance team, which includes a $136 million construction loan from TD Bank and Wells Fargo. Piper will be a six-story, 393-unit building. Thirty-seven units will be designated affordable, but specific rent restrictions were not disclosed.
Piper’s amenities will include a fitness center, pool, rooftop deck, coworking spaces, a library, a wine room, a demo kitchen and dining room, EV charging stations and an indoor pet run and spa. The project will also include 24,000 square feet of ground-floor retail. This is Toll Brothers’ second project in Southeastern Connecticut. The property is about one mile from the South Norwalk Metro Station, which provides direct access to New York City. A construction timeline has not yet been released.