diff --git a/include/swift/AST/Decl.h b/include/swift/AST/Decl.h
index c036bf84b7e..b0893fc179d 100644
--- a/include/swift/AST/Decl.h
+++ b/include/swift/AST/Decl.h
@@ -3926,9 +3926,13 @@ public:
   NominalTypeDecl *getTypeWrapperStorageDecl() const;
 
   /// If this declaration is a type wrapper, retrieve
-  /// its required initializer - `init(storage:)`.
+  /// its required initializer - `init(storageWrapper:)`.
   ConstructorDecl *getTypeWrapperInitializer() const;
 
+  /// Get an initializer that accepts a type wrapper instance to
+  /// initialize the wrapped type.
+  ConstructorDecl *getTypeWrappedTypeStorageInitializer() const;
+
   /// Get a memberwise initializer that could be used to instantiate a
   /// type wrapped type.
   ConstructorDecl *getTypeWrappedTypeMemberwiseInitializer() const;
diff --git a/include/swift/AST/KnownIdentifiers.def b/include/swift/AST/KnownIdentifiers.def
index 74f68dc6bef..9981d8ecfda 100644
--- a/include/swift/AST/KnownIdentifiers.def
+++ b/include/swift/AST/KnownIdentifiers.def
@@ -315,6 +315,7 @@ IDENTIFIER_WITH_NAME(TypeWrapperProperty, "$storage")
 IDENTIFIER(storageKeyPath)
 IDENTIFIER(propertyKeyPath)
 IDENTIFIER(wrappedSelf)
+IDENTIFIER(storageWrapper)
 IDENTIFIER_WITH_NAME(localStorageVar, "_storage")
 
 // Attribute options
diff --git a/include/swift/AST/TypeCheckRequests.h b/include/swift/AST/TypeCheckRequests.h
index bf5a0b9fc9f..31e7ccd660e 100644
--- a/include/swift/AST/TypeCheckRequests.h
+++ b/include/swift/AST/TypeCheckRequests.h
@@ -3689,6 +3689,22 @@ public:
   bool isCached() const { return true; }
 };
 
+class SynthesizeTypeWrappedTypeStorageWrapperInitializer
+    : public SimpleRequest<SynthesizeTypeWrappedTypeStorageWrapperInitializer,
+                           ConstructorDecl *(NominalTypeDecl *),
+                           RequestFlags::Cached> {
+public:
+  using SimpleRequest::SimpleRequest;
+
+private:
+  friend SimpleRequest;
+
+  ConstructorDecl *evaluate(Evaluator &evaluator, NominalTypeDecl *) const;
+
+public:
+  bool isCached() const { return true; }
+};
+
 class SynthesizeLocalVariableForTypeWrapperStorage
     : public SimpleRequest<SynthesizeLocalVariableForTypeWrapperStorage,
                            VarDecl *(ConstructorDecl *), RequestFlags::Cached> {
diff --git a/include/swift/AST/TypeCheckerTypeIDZone.def b/include/swift/AST/TypeCheckerTypeIDZone.def
index 3e12f2caa33..83144e441b4 100644
--- a/include/swift/AST/TypeCheckerTypeIDZone.def
+++ b/include/swift/AST/TypeCheckerTypeIDZone.def
@@ -431,6 +431,9 @@ SWIFT_REQUEST(TypeChecker, IsPropertyAccessedViaTypeWrapper,
 SWIFT_REQUEST(TypeChecker, SynthesizeTypeWrappedTypeMemberwiseInitializer,
               ConstructorDecl *(NominalTypeDecl *),
               Cached, NoLocationInfo)
+SWIFT_REQUEST(TypeChecker, SynthesizeTypeWrappedTypeStorageWrapperInitializer,
+              ConstructorDecl *(NominalTypeDecl *),
+              Cached, NoLocationInfo)
 SWIFT_REQUEST(TypeChecker, SynthesizeLocalVariableForTypeWrapperStorage,
               VarDecl *(ConstructorDecl *),
               Cached, NoLocationInfo)
diff --git a/lib/Sema/CodeSynthesis.cpp b/lib/Sema/CodeSynthesis.cpp
index a6a99b54227..28d8e0fc36c 100644
--- a/lib/Sema/CodeSynthesis.cpp
+++ b/lib/Sema/CodeSynthesis.cpp
@@ -232,6 +232,9 @@ enum class ImplicitConstructorKind {
   /// the instance variables from a parameter of the same type and
   /// name.
   Memberwise,
+  /// The constructor of a type wrapped type that accepts an instance of
+  /// type wrapper i.e. `init(storageWrapper: Wrapper<Self, $Storage>)`.
+  TypeWrapperStorage,
   /// The memberwise constructor of a type wrapped type which is going to
   /// initialize underlying storage for all applicable properties.
   TypeWrapperMemberwise,
@@ -358,6 +361,37 @@ static ConstructorDecl *createImplicitConstructor(NominalTypeDecl *decl,
 
       params.push_back(arg);
     }
+  } else if (ICK == ImplicitConstructorKind::TypeWrapperStorage) {
+    accessLevel = AccessLevel::Public;
+
+    auto *typeWrapper = decl->getTypeWrapper();
+
+    auto *arg = new (ctx) ParamDecl(SourceLoc(), Loc, ctx.Id_storageWrapper,
+                                    Loc, ctx.Id_storageWrapper, decl);
+
+    auto typeWrapperType = typeWrapper->getDeclaredInterfaceType();
+
+    TypeSubstitutionMap subs;
+    {
+      auto genericParams =
+          typeWrapper->getGenericSignature().getInnermostGenericParams();
+      // Wrapped -> wrapped type
+      subs[genericParams[0]->getCanonicalType()->castTo<SubstitutableType>()] =
+          decl->getDeclaredInterfaceType();
+      // Storage -> $Storage
+      subs[genericParams[1]->getCanonicalType()->castTo<SubstitutableType>()] =
+          decl->getTypeWrapperStorageDecl()->getDeclaredInterfaceType();
+    }
+
+    auto paramType = typeWrapperType.subst(SubstitutionMap::get(
+        typeWrapper->getGenericSignature(), QueryTypeSubstitutionMap{subs},
+        LookUpConformanceInModule(decl->getParentModule())));
+
+    arg->setSpecifier(ParamSpecifier::Default);
+    arg->setInterfaceType(paramType);
+    arg->setImplicit();
+
+    params.push_back(arg);
   } else if (ICK == ImplicitConstructorKind::TypeWrapperMemberwise) {
     // Access to the initializer should match that of its parent type.
     accessLevel = decl->getEffectiveAccess();
@@ -1247,6 +1281,11 @@ void TypeChecker::addImplicitConstructors(NominalTypeDecl *decl) {
   if (!shouldAttemptInitializerSynthesis(decl)) {
     if (decl->hasTypeWrapper()) {
       auto &ctx = decl->getASTContext();
+
+      // Synthesize a special `init(storageWrapper: <Wrapper>)`
+      // initializer if possible.
+      (void)decl->getTypeWrappedTypeStorageInitializer();
+
       // If declaration is type wrapped and there are no
       // designated initializers, synthesize a special
       // memberwise initializer that would instantiate `$storage`.
@@ -1574,6 +1613,34 @@ void swift::addNonIsolatedToSynthesized(
   value->getAttrs().add(new (ctx) NonisolatedAttr(/*isImplicit=*/true));
 }
 
+static std::pair<BraceStmt *, /*isTypeChecked=*/bool>
+synthesizeTypeWrappedTypeStorageWrapperInitializerBody(
+    AbstractFunctionDecl *decl, void *) {
+  return {nullptr, /*isTypeChecked=*/false};
+}
+
+ConstructorDecl *SynthesizeTypeWrappedTypeStorageWrapperInitializer::evaluate(
+    Evaluator &evaluator, NominalTypeDecl *wrappedType) const {
+  if (!wrappedType->hasTypeWrapper())
+    return nullptr;
+
+  // `@typeWrapperIgnored` properties suppress this initializer.
+  if (llvm::any_of(wrappedType->getMembers(), [&](Decl *member) {
+        return member->getAttrs().hasAttribute<TypeWrapperIgnoredAttr>();
+      }))
+    return nullptr;
+
+  // Create the implicit type wrapper storage constructor.
+  auto &ctx = wrappedType->getASTContext();
+  auto ctor = createImplicitConstructor(
+      wrappedType, ImplicitConstructorKind::TypeWrapperStorage, ctx);
+  wrappedType->addMember(ctor);
+
+  ctor->setBodySynthesizer(
+      synthesizeTypeWrappedTypeStorageWrapperInitializerBody);
+  return ctor;
+}
+
 static std::pair<BraceStmt *, /*isTypeChecked=*/bool>
 synthesizeTypeWrappedTypeMemberwiseInitializerBody(AbstractFunctionDecl *decl,
                                                    void *) {
diff --git a/lib/Sema/TypeCheckTypeWrapper.cpp b/lib/Sema/TypeCheckTypeWrapper.cpp
index 650da7b4d8a..a2e6e53f5fa 100644
--- a/lib/Sema/TypeCheckTypeWrapper.cpp
+++ b/lib/Sema/TypeCheckTypeWrapper.cpp
@@ -151,6 +151,13 @@ VarDecl *NominalTypeDecl::getTypeWrapperProperty() const {
                            GetTypeWrapperProperty{mutableSelf}, nullptr);
 }
 
+ConstructorDecl *NominalTypeDecl::getTypeWrappedTypeStorageInitializer() const {
+  auto *mutableSelf = const_cast<NominalTypeDecl *>(this);
+  return evaluateOrDefault(
+      getASTContext().evaluator,
+      SynthesizeTypeWrappedTypeStorageWrapperInitializer{mutableSelf}, nullptr);
+}
+
 ConstructorDecl *
 NominalTypeDecl::getTypeWrappedTypeMemberwiseInitializer() const {
   auto *mutableSelf = const_cast<NominalTypeDecl *>(this);