Situated at the top of the hill, it has historical significance as the original settlement of Waterbury in 1674 before the permanent town was laid out on the east side of the river.
The continued occupation of the high ridge can be seen in the 19th century farm houses that survive along Highland Avenue.
In the early decades of the 20th century, Town Plot attracted new homeowners seeking more open space than the densely settled, older neighborhoods of Brooklyn and the South End could offer.
Carmel, in the 1940s and '50s, and its related festivals and activities added to the attraction and vitality of the neighborhood, and served as a center for a close-knit Italian community.
The parish is famous for its popular four-day feast every July which ends with a large parade through the streets of the neighborhood on Sunday.