A property owner right on the Norwalk line is proposing to build a five-story parking garage on the site of what is now a parking lot serving a commercial development that is mostly in Norwalk.

The commercial development at 1 Cannondale Way, which is so called because the Cannondale bicycle company facility is there, also includes a medical building, an L.A. Fitness gym and a warehouse.

The proposed garage would hold spaces for 407 cars on five levels, including the ground level, according to the plans by iPark Norwalk LLC, on file with the Planning and Zoning Department.

The garage would eliminate 2,100 square feet of parking spaces that already exist. The footprint of the parking area would not change, according to the plan. The garage would be included as part of the total 10.67-acre development site.

The property is zoned as Designated Enterprise 5 District, according to the Planning and Zoning administrators, who wrote in their report on the proposal that it fits within the scope of the town’s Plan of Conservation and Development. It is considered a permitted accessory.

It is another example of growth on Route 7. Just last month, the Planning and Zoning Commission approved expansion of two parking garages farther down the road that serve corporate office leasing centers.

The application technically is for a special permit.

A public hearing has been set for Nov. 27 at the town hall annex.