
The Corbin District is the largest real estate development in Darien’s history. Taking shape on almost seven acres of land in the heart of downtown. Its developer Baywater Properties, a privately held commercial real estate company in Fairfield and Westchester Counties, is re-imagining Darien by resetting the town’s shopping, dining, lifestyle, work and entertainment experiences. R. David Genovese, Baywater’s CEO, will provide an update on the development’s progress, completion date and leasing status. He will be joined by Kate Perez, The Corbin District’s project executive.
Baywater launched this exciting transformation of downtown Darien in 2019 with attention to detail and a sharp focus on creating what will be one of the most enjoyable and walkable downtown areas, not just in Darien, but across southwestern Connecticut. The project includes 29 stores, seven restaurants and eateries, three fitness studios, 110,000 square feet of Class A office space, a town green, three public plazas that can be combined for community events, 112 luxury apartment units and 850 new parking spaces. The work has already attracted top culinary talent and purveyors and prominent office space tenants, who are attracted to a one-of-a-kind architectural setting centered around a new town square. Several beautiful outdoor public spaces will activate the area, hosting farmers’ markets, outdoor concerts and various community gatherings.
Our speakers will discuss the project’s cost, leasing status for retail and office tenants who’ve already pre-leased space in the project, the timeline for completion and occupancy for each of the project’s several phases, as well as challenges the development has faced along the way.
Video Presentation
Summary of Presentation by David Genovese and Kate Perez on 1/28/26
David Genovese and Kate Perez presented an in-depth update on the Corbin District, framing it as a nearly 20-year effort to reset and reimagine downtown Darien. What will emerge is the largest real estate development in the town’s history, built on nearly seven assembled acres after years of complex land acquisitions involving more than a dozen separate properties.
Genovese emphasized that the project was never intended to feel like a single, monolithic development. Instead, the goal was to create a downtown that looks as though it evolved organically over time, with varied architecture, walkable streets and inviting public spaces. The completed district will include 32 retail stores, seven dining establishments, 112 apartments, approximately 110,000 square feet of office space and about 850 parking spaces, supported by a mix of underground, structured and surface parking.
A major theme of the presentation was that the developers focused on community over pure economics. Rather than chasing only national chains or the possible highest rents, Baywater curated tenants through word-of-mouth, prioritizing distinctive businesses and preserving beloved local retailers by phasing construction so that the retailers could relocate within the district. Public gathering spaces — plazas, shared streets and landscaped areas — were intentionally designed to encourage people to linger, socialize and experience downtown without needing to buy something.
The visible transformation work began in 2019 with a big construction push culminating in Phase 1 (completed and 100% leased) and Phase 2 (under construction and almost 85% pre-leased).
Parking: David described parking as Baywater’s #1 challenge. The plan’s 850 spaces have the following characteristics:
- Large structured garage near the Darien Sport Shop side;
- 80–85 surface spaces behind the project (near I-95), giving a choice to people who dislike garages;
- Free parking (unless the town implements paid parking; leases are written to match the town’s rate if that happens); and
- Strong discouragement of “park-and-ride to NYC” abuse (drivers will be charged if they leave cars all day and take the train).
Baywater emphasized internal streets — Market Street and Penny Lane — including a Dutch concept of a shared street where pedestrians and cars co-exist without car dominance. Penny Lane can be closed May 1 to November 1 each year for pedestrian use and public-space programming.
Retail Leasing: The project has no “for lease” signs on it and no CoStar digital marketing. Leasing has been promoted by word-of-mouth and curated toward “unique” offerings rather than only high-rent national retail chains. Examples mentioned included:
- High end sushi restaurant;
- Tatte Bakery (Boston-based café brand);
- Millie’s (from Nantucket);
- Corsica Wine Bar (part of Barcelona Restaurant Group);
- Rhone (men’s athletic wear, locally connected ownership);
- Barry’s Bootcamp; and
- Chopt Creative Salad Co.
Baywater deliberately phased construction so that legacy local tenants (e.g., Barrett Bookstore, Toy Box) could relocate within the district rather than disappear for years.
Office Leasing: The office building was positioned by I-95 to act as a sound buffer (rather than having apartments face the highway) and designed so the fifth floor is stepped back to reduce perceived bulk from the plaza. Some tenants include:
- McKinsey committed to 12,000 square feet (moving from Stamford);
- Aon took 30,000 square feet;
- Balance Point Capital (leasing the entire fifth floor)
David said Darien had never seen office rents above $50 per square foot, but their rents have escalated from $60 to $70 to $79 and now $90 per square foot (while also noting construction costs rose dramatically due to pandemic-era inflation and higher interest rates).
Apartment Leasing: Baywater designed units for downsizers “without compromise,” including unusually generous bathroom layouts (e.g., 1 BR units with a bathroom plus a separate powder room). David described the tenant mix as:
- 10% young couples “trying Darien;”
- 50% empty nesters;
- 20–30% people relocating to be near adult children and grandchildren
- About 10% young families. In that connection, David reported that the impact on schools seems minimal as there are only three school-age children in the first 38 apartment units.
Construction Efforts: Kate Perez detailed the extraordinary engineering behind Phase Two, including construction of a large underground garage anchored below the water table. This required extensive dewatering and the installation of rock anchors drilled into bedrock to prevent the structure from lifting due to groundwater pressure. She described the excavation, precast garage construction, and the ongoing challenge of placing utility lines underground along the Boston Post Road. She detailed the following challenges to construction of the garage:
- Underground garage slab is 14.5 feet below grade;
- Water table is eight feet below grade (very high);
- Construction required 263 rock anchors (four-inch steel bars screwed into bedrock) to keep the slab from “floating” when groundwater rises;
- A “dewatering system” ran for over1.5 years to lower the water table;
- Excavation resulted in exporting more than 70,000 cubic yards of material; and
- Offsite fabrication of pre-cast components.
David also highlighted the Corbin District’s broader impact: attracting Class A office tenants previously unseen in Darien, achieving apartment rents well above expectations, and enhancing downtown’s appeal to young couples, empty nesters and grandparents relocating to be near family — all while adding very few school-age children.
David and Kate presented the Corbin District as a long-term civic investment, shaped by patience, design quality and a belief that a vibrant, walkable downtown strengthens both community life and property values in Darien.