A new mixed-use development is taking shape in the heart of Norwalk’s Founders District. The North Avenue Exchange, developed by Norwalk residents Nick and Kristi DeJoseph, will bring modern residential living and professional services to one of the community’s most established and walkable areas.
Opening November 1, 2026, the project transforms the site of an aging residential property into a new building featuring three apartments—two one-bedroom residences and one two-bedroom residence—along with professional office space.
“We saw an opportunity to take a property that was no longer contributing to the area and create something that could,” said Nick DeJoseph. “The Founders District already has so much character, and we wanted to build something that adds to what is happening here and what this area can become.”
The apartments offer residents modern housing within walking distance of local restaurants, businesses, services, and community amenities, adding new residential activity to Norwalk’s historic core.
The North Avenue Exchange will also become the new home of Kristi DeJoseph’s existing Edward Jones financial advising practice, which is relocating from South Des Moines to Norwalk. Rather than opening a new practice, DeJoseph is bringing her established office and longstanding client base into the community.
A second-generation financial advisor, DeJoseph sees the move as an opportunity to continue building her practice in the community where she and her family live while introducing more of her clients to Norwalk.
“We’re bringing the families we’ve served for many years into Norwalk,” said Kristi DeJoseph, CFP®. “Every client who comes here for a meeting has an opportunity to experience our community—to have lunch at a Norwalk restaurant, visit a local business or discover something that brings them back again.”
For the DeJosephs, the project is about more than one property. They hope The North Avenue Exchange contributes to continued momentum throughout the Founders District and encourages others to see opportunities for redevelopment in the area.
“Revitalization isn’t the result of one building or one project,” Nick and Kristi said. “It happens when people continue choosing to improve and reimagine what an area can become. We’re proud to be part of that and hope our project encourages others to see the possibilities here, too.”
As Norwalk residents raising their family in the community, the project carries additional meaning for the DeJosephs.
“Norwalk is our home,” Kristi said. “Being able to bring our business here, create new places for people to live and contribute to the future of the Founders District makes this project especially meaningful to us.
“The City of Norwalk is thrilled to have this beautiful new multi-use facility debut in the original Founders District. The building design complements the historical nature of the District, while providing modern opportunities for businesses and residents.
"We’re also excited to welcome a fantastic new business to Norwalk’s thriving commercial community," said Hollie Zajicek, Economic Development Director for the City of Norwalk.
The name North Avenue Exchange reflects the vision for the property as a place where people, business, and community intersect. Its guiding idea—“Where heritage meets progress”—captures the goal of respecting the character of the Founders District while helping shape what comes next.