LAKE ZURICH, IL-Residential development north of MainStreet has been scaled back in the village’s Downtown redevelopment plans. The master plan for the Downtown redevelopment project calls for 201 town homes, rather than 321 units in five-story buildings.

The reduction in density was made in response to a community meeting last week. In addition to town houses, the plan also includes new retail and office space.

“We’re creating the right mix of residents and businesses along MainStreet,” says McCaffery Interests vice president Ed Woodbury. “Making a great downtown is about making a great street. We’re paying a lot ofattention to the details to create a vibrant street life and gatheringarea.”

McCaffery Interests has been chosen as developer of the project, which village officials hope begins in the spring. However, the developer is expected to appear before the village’s plan commission next month, after another community meeting.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 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.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.