A brand new subdivision of 246 townhouses is deliberate alongside Route 25 on the location of an outdated gravel mine in South Elgin.
The purpose is to begin floor work for the Park Pointe subdivision, on the southwest nook of Route 25 and Center Road, within the spring and start constructing townhouses in September 2019, mentioned lawyer Wealthy Guerard of Wheaton, who represents the homeowners and builders, Bluff Metropolis LLC.
The village board authorised an idea plan final week for the 40-acre subdivision that would come with a 1.5-acre park.
The primary townhouses could be prepared for occupancy by February 2020, and the entire subdivision could be constructed by 2024, Guerard mentioned. The estimated value of the venture is about $6 million, he mentioned.
The gravel mine closed greater than 5 years in the past and it took some time to reclaim the land and switch it right into a buildable website, he mentioned.
“The property is now prepared for residential improvement — the market is right here, now, and it wasn’t for some time,” Guerard mentioned.
The subdivision plan acquired a thumbs-up from the planning and zoning fee and the village board, though the village’s 2030 complete plan requires a mixture of residential and business at that location.
Village President Steve Ward identified the property is surrounded by open land.
“There’s not rather a lot there to attract right into a business improvement. If there was, it could be so small, and the companies (which may open), they do not all create taxes,” he mentioned, pointing to barber retailers and dry cleaners.
“It was unanimous of everyone’s feeling (on the board) that we should always not go along with business on this nook property,” he added. “General, it is a high quality improvement, and a wanted improvement.”
Bluff Metropolis LLC is also constructing the South Pointe single-family residence subdivision to the east at 1055 Center Road in South Elgin, the place the development of fashions is anticipated to begin in October and be accomplished by January, Guerard mentioned.
Close by are James “Pate” Phillips State Park and the Illinois Prairie Path bike path. The 2 new subdivisions will hook up with the bike path, Guerard mentioned.
The developer additionally constructed the Bartlett Pointe subdivision throughout Route 25 in Bartlett.