Within five years, the Webster Street parking lot will be reinvented into a 500-unit apartment complex with a 1,100-space parking garage, with a price tag of between $250 million to $350 million. In December, the state announced a $2 million grant to improve the Martin Luther King Jr. Corridor, remediating a nearly 5-acre plot in South Norwalk. Located at 55 Martin Luther King Jr. Drive, the 4.97-acre parcel is a city-owned parking lot. The grant was part of $24.6 million the state distributed to combat blighted properties. The overall development costs, including construction of the apartments, will be between $250 and $300 million, while the remediation costs will be about $5 million, Bidolli said.
https://www.stamfordadvocate.com/news/article/norwalk-webster-street-parking-lot-apartments-17804138.php