The office campus at 55-57 Greens Farms Road changed hands in February for $25 million, and its new owner is not planning to keep the offices. TC Greens Farms LLC, an affiliate of Trammell Crow Co., whose parent is CBRE Group, has proposed a $100 million residential project called the Fitzgerald, with 250 one- and two-bedroom apartments on the 21.9-acre site.
The plan would demolish the 60,000-square-foot office building at No. 57, renovate No. 55 and divide the property into two lots. Thirty percent of the apartments, or 75 units, would be affordable.
The proposal has arrived at an awkward moment. Days before the Conservation Commission’s September hearing, about seven inches of rain fell on Westport.
A discount on the campus
The seller was 1735 Ashley LLC, controlled by Mikael J. Levey of JEM Holdings, which paid $32.6 million for the property in December 2018. The February sale came in $7.6 million below that price and below the town’s own appraisal of $28.9 million. The campus carries 181,761 square feet of office space and an assessment of $20.2 million.
The wetlands map
Before the project can reach Planning and Zoning it has to clear the Conservation Commission, which oversees wetlands and watercourses. In June the commission accepted a revised wetlands map for the property that reduces the designated wetlands from 11 acres to 8.6 acres, a difference of 103,673 square feet.
Timothy Hollister, the developer’s attorney, argued that the old delineation was out of date. “The original map is almost 45 years old,” he said, according to the Westport Journal.
After the storm
The Sept. 13 storm gave neighbors a fresh argument. At the hearing that followed, residents described flooding on and around the campus. Beth Lomanto, who lives nearby, said the water rose until ponds on the property “couldn’t be distinguished from asphalt,” the Westport Journal reported.
Under the current design, impervious surface on the site would rise 13.8 percent, from 239,510 square feet to 272,520. The development team says its stormwater design would increase flood storage on the property by 660 cubic yards.
We’re still really in the wetlands and watercourses stage. Obviously we’ve put together what we think is a good plan, and we’ll take it one step at a time.
Timothy Hollister, attorney for TC Greens Farms LLC, as reported by the Westport Journal
The commission continued the hearing to Oct. 28. That date is tentative. An earlier report had pointed to Oct. 6.
The 30 percent question
A 30 percent affordable share is the set-aside that defines an affordable housing development under Connecticut’s 8-30g statute, the law that restricts how a town may deny such projects. The public record reviewed for this article does not say whether the Fitzgerald will proceed under that statute.
The statute’s leverage is real in Westport. Towns where at least 10 percent of housing qualifies as affordable are exempt from its appeals procedure. Westport counted 424 affordable units in June 2025, about 4 percent of its 10,567 homes. The town’s last 8-30g moratorium expired on March 4, 2023, and it is collecting points toward another. Seventy-five deed-restricted units on Greens Farms Road would move that count, which is one reason the project has attention well beyond its neighbors. Our report on the state’s new housing law explains the moratorium math.
What to watch
If the Conservation Commission approves the wetlands and watercourses permit, the project moves to Planning and Zoning. For buyers looking at houses near the campus, the questions are traffic on Greens Farms Road, construction duration and, after Sept. 13, drainage. The town’s flood map revisions, expected this fall, are worth checking for any address along the road.
Sources
- Hartford Business Journal, Company with ties to global realty development firm buys Westport office buildings for $25M, undated
- Sentry Commercial, Westport office complex sells for $25M to buyer connected with international real estate firm, March 25, 2026
- Westport Journal, Westport real estate sales, Feb. 23-27, March 14, 2026
- Westport Journal, 55-57 Greens Farms team has Conservation Commission shrink designated wetlands, June 19, 2026
- Westport Journal, $100 million development on Greens Farms Road to appear before Conservation Commission, Sept. 11, 2026
- Westport Journal, Neighbors question GFR development’s flood resilience, Sept. 17, 2026
- 06880, 8-30g, P&Z and more. Affordable housing 101, June 30, 2025
