Council criticizes condo, retail plans
February 1st, 2007 - Category: Condo, Real EstateTwo plans to turn vacant lots in the north end of downtown Elmhurst into a trendy condominium and retail center came under City Council scrutiny this week, with members mostly criticizing their design and financing.
Mayor Thomas Marcucci said Monday that he was looking for something that appealed to the higher-end condo market.
“This is a taxpayer-relief project, not an affordable-housing project,” he said.
Everett Builders, Mid America Real Estate Group, Transwestern Investment and James McHugh Construction Co. proposed two brick buildings, placed diagonally on either side of Hahn Street.
A three-story building, housing 24 condos and street-level retail shops, would go up north of a four-story building with a parking deck and office and retail space.
Morningside Group and HSA Commercial Real Estate also unveiled design, an H-shaped four-level brick building, straddling a closed Hahn Street. It would house 82 condos, indoor parking and retail space. Seven townhouses on Addison Street also were included.
Both proposals lacked the “wow” factor needed to pull people to the downtown, said Ald. Norman Leader (2nd).
Ald. George Szczepaniak (6th) was concerned because the city’s cost of a project in the downtown tax-increment-finance district was unknown. Several structures on city-owned lots have been demolished to redevelop the block-long street.
Although Marcucci rebuffed an accusation that the process was confusing and “brain dead,” he said the city had limited experience in writing a request-for-proposal for such a large project.
The city sent letters to 75 companies for the Hahn Street revitalization project, but only two development groups responded.
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