Downtown Development Projects

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Featuring projects within the Prospect and Main TIF District

20 West

20 West Professional RenderingThe Petitioner, Nicholas and Associates, is proposing to construct a mixed-use Planned Unit Development (PUD) consisting of a six-story building with seventy-three apartments and a two story restaurant with related off-site improvements including public parking. The proposal would include rooftop seating for the restaurant as well as two rooftop areas for the residents on top of the fourth and sixth floors. The petitioner is currently in discussions with Mia’s Cantina to occupy the 5,300 square foot restaurant space.

Development of this site has been a priority of the Village and is one of the Village’s top Strategic Plan Goals.

The 20 West project received final PUD approval from the Planning and Zoning Commission on February 22, 2018. This project was reviewed by the Village Board on March 6, 2018, for the following items:

A Resolution Approving a Final Plat of Subdivision for 20 West - this item was approved by the Village Board 6-0 on March 6, 2018

Ordinance Granting a Conditional Use for a Planned Unit Development for 20 West - this item was approved by the Village Board 6-0 on March 6, 2018

A Resolution Authorizing the Execution of a Redevelopment Agreement Between the Village of Mount Prospect and 20 West LLC - this item was tabled to the March 20, 2018 Village Board Meeting.

At the time that the Village established the Prospect and Main TIF District, the TIF Joint Review Board requested that we maintain a set of metrics to measure the positive impact that the TIF has on the downtown district.  This table lists the metrics for the 20 West project, which the Village will continue to measure as we move forward with the numerous redevelopment projects in the downtown.   The projected figures are estimates that are based upon industry standards for similar developments in the region.

Park Terrace - 15-19 N. Elmhurst

Park Terrace RenderingThe Petitioner, Richard Bondarowicz of SMART Builders, is seeking a conditional use to allow a final planned unit development (PUD) at 15-19 N. Elmhurst Avenue. The property is located in the northwest quadrant of the Village's downtown, behind the Village's post office. Development of this site has been a priority for the Village and is one of the Village's top Strategic Plan Goals for 2018. 

The Petitioner is proposing to construct a residential PUD named "Park Terrace" consisting of two principal buildings containing a total of twelve (12) townhomes. The proposed dwelling units are three (3) stories tall and include rooftop terraces.

The Village Board reviewed the following items at the March 6, 2018 meeting:

A Resolution Approving a Final Plat of Subdivision for the Property at 15-19 N. Elmhurst Avenue - this item was approved by the Village Board 6-0 on March 6, 2018

Ordinance Granting a Conditional Use for a Final Planned Development for the Property at 15-19 N. Elmhurst Avenue - this item was approved by the Village Board 6-0 on March 6, 2018

Resolution Authorizing the Execution of a Redevelopment Agreement Between the Village and Park Terrace Mount Prospect, LLC - this item was tabled to the March 20, 2018 Village Board Meeting.

At the time that the Village established the Prospect and Main TIF District, the TIF Joint Review Board requested that we maintain a set of metrics to measure the positive impact that the TIF has on the downtown district.  This table lists the metrics for the Park Terrace project, which the Village will continue to measure as we move forward with the numerous redevelopment projects in the downtown.   The projected figures are estimates that are based upon industry standards for similar developments in the region.

 

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