During 2021, roughly 4,000 bank branches closed across the country, a record level. Among those closures were two Wells Fargo locations in Norwalk that are based within properties owned by M.F. DiScala & Co.
One of those locations was at 295 Westport Ave., which became Connecticut ‘s first Jimmy Johns sandwich shop. The new business opened Feb 22 and takes advantage of the old drive-through teller ‘s window.
But while this reinvented location is attracting a new crowd, another Wells Fargo property scheduled to close May 4 faces a unique challenge. That branch is based at 1 Cemetery St., near the East Norwalk train station and across the road from the historic cemetery where local legend has it the man who inspired the song Yankee Doodle is buried.
“The site is a 1.6-acre site that is essentially an asphalt jungle, ” said Alan Webber, DiScala ‘s chief financial officer. “It ‘s probably one of the most underutilized sites around. It ‘s been under lease to various banks forever, we ‘ve owned it 30 something years. ”
According to Webber, DiScala is looking into potential ways to do more with the site. It is the only lot with a Cemetery Street address and it is part of the designated Transit Oriented District around the East Norwalk train station, meaning it qualifies for some incentives for adding housing and mixed-use space.
Previously, DiScala sought to rename Cemetery Street to Mill Pond Place.
“The name of the street, Cemetery Street, is just not conducive to positive thoughts, ” Weber told a meeting of the Common Council Public Works Committee at a session in February 2020. But residents voiced concern about the name change and the proposal never made it out of committee, although future developments have not been ruled out.
According to Webber, his company discussed the possibility of Wells Fargo opening a future branch at the site after it was redeveloped to include more retail and offer better views of Mill Pond. But the San Francisco-headquartered lender declined.
“For whatever reason, they ‘re changing their strategies and closing the branches, ” Webber said.
DiScala is currently exploring options of possible uses for the site after the branch ‘s closure, but Webber declined to give specifics. He said there were several factors to take into account, including a sewer easement and a complicated traffic flow past the property, but that his company was actively exploring alternative uses for the site.
“Check back in a couple months and let ‘s see where we are in our planning process, ” he said.
