No one spoke for or against the bond issue at a public hearingTuesday night. The bond sale is expected to be approved by the citycouncil next month, with new streets among the improvementsscheduled to follow next summer.
Because of its location near a Metra commuter station, a"transit-oriented" development already is envisioned by the citycouncil, which is moving to rezone the vacant property frommanufacturing use to a mixed-use scheme that would allow for townhouses, retail space and park space. City officials believe theycan have the property ready for sale to a developer in the latterhalf of 2003.
Under a September rezoning, the northern two-thirds of the siteis earmarked for residential use while the southern third is slatedto see retail development.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
