Naperville City Council approved plans for a $200 million mixed-use development near I-88 and Route 59 that will include two full-service hotels, more than 400 residential units, restaurants, and office space.
Impact on Schools
Representatives of petitioner Inter Continental Real Estate and Development said the development would be marketed to young professionals and active older adults, which they said would reduce the impact on schools, in addition to generating property taxes.
“This adult-themed project will not have playgrounds but it will have 19 acres of open space with a walking trail and is immediately adjacent to the Illinois Prairie Path,” said ICRED attorney Michael Roth.
Indian Prairie School District 204 previously opposed the project due to the number of students it would add to the already crowded district, but did not submit a position on the project last night.
In February, council said they had concerns about the lack of affordable housing in the project. Inter Continental added 82 micro-units, which they said they intend to rent at attainable/affordable rates.
Councilwoman Jennifer Bruzan Taylor was the lone vote against the project, partly due to the fact that there is no guarantee the units will be rented at affordable rates.
“It’s an easy feel-good measure, pat ourselves on the back and say ‘well good, we’re going to help our affordable housing by passing these micro-units,” she said. “But by the time these units are built, three to four years from now, we have no idea if it’s going to meet the state-required affordable element.”
Based on how Inter Continental calculated its other units’ rents, the micro-units would be priced at $970 per month.
Variety of Uses
The rest of council was comfortable with the market-driven pricing and the mixed-use plans for the area.
“This project has been a long time coming,” said Councilwoman Patty Gustin. “I remember when I was on PZC, we talked about this area kind of being the entertainment hub and kind of the north entry or welcome to Naperville.”
Council approved the development by a vote of 8-1.
Naperville News 17’s Casey Krajewski reports.
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