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Downtown Redevelopment

Concept Plan and Redevelopment Agreement

The current concept plan provided by the developers is the result of input from the Village and developer over the course of nearly three years since the Redevelopment Agreement was originally approved. The resulting plan has a marked decrease in density over the original plan, and now contains 62 condominium units north of Indian Creek, and two restaurants (approximately 7,500 square feet each) along with a 2-story mixed-use building (with 20,000 square feet of first floor retail and 20,000 square feet of second floor office) south of Indian creek.
Previous concept plans reviewed by the Village Board, DRTF and Village Staff, including the plan presented by a former interested developer (Heitman Properties) were found to be much too ambitious, given the issues of parking, stormwater control, wetland and traffic generation. The current concept plan grew out of a framework devised by the DRTF, incorporating mixed uses, such as retail, office and residential, along with a pedestrian-friendly streetscape similar to that exhibited in the area of the North Village Green. In addition, cleanup and enhancement of Indian Creek, along with the opportunity to utilize the creek as a focal point, were major goals.

Current Status
In light of the financial realities related to the termination of the Redevelopment Agreement, the Village will be revisiting the concept plan to determine its feasibility. It is anticipated that the 62-unit condominium north of Indian Creek will be constructed, whether by Teng/Forrest or an alternate developer, as previously approved. However, the Village may consider several options south of the creek in order to make the project financially viable.