Nick Papanicholas Jr.’s improvement agency gained a contest to remodel Elk Grove Village’s oldest purchasing middle with a midsize condominium advanced proposal.
Officers within the northern Chicago suburb selected Wingspan Improvement Group to redevelop the 10-acre Elk Grove Woods Plaza at South Arlington Heights and Higgins roads, the Each day Herald reported. Wingspan’s plan was chosen out of a pool of 4 proposals thought of at a November open home.
Wingspan, whose president is Papanicholas, earned the job with its five-story, 267-unit condominium advanced proposal it’ll dub Elk Woods Lofts, with 11,000 sq. toes of retail house in addition to 16 three-story townhouse models and hooked up garages. The proposals the village handed over in desire of Wingspan’s embody one by Synergy Construction Group that might have introduced 319 residences and 30 townhouses, which was the biggest submission, and two others by builders the village declined to call that might have introduced 206 residences and 32 townhomes, and the opposite with 282 residences.
The village of Elk Grove spent greater than $17 million on behalf of taxpayers to assemble the actual property wanted for the venture. The village purchased the Elk Grove Bowl bowling alley for $2 million and the adjoining retail strip for $10.7 million, shortly earlier than shopping for the Shell gasoline station on the nook of the block for $5 million. The bowling alley was just lately demolished.
Wingspan beforehand constructed the village’s public works storage and renovated quite a lot of faculties. Plans additionally name for a single-story, 25,855-square-foot retail constructing with a clock tower on the nook of the event and one other 21,930-square-foot retail constructing alongside Higgins Highway.
The village will maintain one other public open home for residents to see up to date plans, probably in March. The venture will then go earlier than the plan fee for a public listening to after which on to the village board for ultimate approval. Wingspan may even probably pursue redevelopment and tax-increment financing agreements with the village.
— Victoria Pruitt
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