A new hotel opened last week in Norwalk — the city’s first — in a development that was long overdue to meet the needs of the growing community of 15,000 people, developer Ryan Jensen said.

Jensen, principal with Compound Capital Holdings, said the community was ripe for a hotel because of the growth it has experienced in recent years. With the addition of the Gregg Young Auto Sports Campus along with new and existing businesses, there is demand to support a hotel in Norwalk, he said.

“There are multiple economic drivers in the community with no overnight capacity,” he said. “There was no hotel in that market. This is the first one. We felt there was enough demand in the market, that kind of population and corporate tenants to sustain 79 keys.”

The 79-room Fairfield By Marriott at 2100 Hughes Drive cost $14 million to build. It is across the street from a new Fareway store and near a new Kwik Star convenience store, a new Starbucks and close to where the new sports campus will go in.

There’s also a multiuse development happening on 17 acres just east of the hotel, Jensen said.

“It’s just a big area for growth and for new stuff coming into Norwalk,” he said.

The hotel has an outdoor pool, a large gym and a bar, amenities Jensen said are not typical of most Fairfield hotels.

He said the hotel is forecast to contribute $3.5 million into the community from hotel/motel tax, as well as retail and restaurant and entertainment spending from hotel guests.

“The impact is huge,” he said. “If people aren’t staying in Norwalk, they’re not dining in Norwalk. They’re not shopping in Norwalk. They’re not buying gas or doing any of those things in the community if they’re not staying in the community.”

Jensen, who was born in Indianola and grew up in Warren County, said it was important for him to do something in the area where he was raised.

“Doing this project in my backyard is something that’s pretty special for me personally,” he said.