Water's Edge of South Elgin generates interest

A building planned in South Elgin with 50 apartments for low-income residents and residents with disabilities has already generated interest from prospective tenants.

“We've had many interested parties,” said Tracey Manning, executive director for The Burton Foundation. The application process will begin sometime in early spring, and will be widely advertised throughout South Elgin, she added.

The estimated $14 million development, to be called Water's Edge of South Elgin, is a joint project between The Burton Foundation, of Sterling, Ill., and the Association for Individual Development, based in Aurora. It will be located in a vacant industrial area downtown on the east side of the Fox River, north of the dam.

The South Elgin village board approved final plans for Water's Edge with a 4-3 vote last week, with Trustees Robert Sauceda, Jennifer Barconi and Lisa Guess casting “no” votes. Village President Jim Hansen broke the tie.

Sauceda and Barconi were elected in April and made their opposition to Water's Edge part of their campaign platforms.

Trustee Mike Kolodziej was the only trustee who voted against the project when the board approved preliminary plans in February.

More than 900 residents and business owners signed a petition to stop the project earlier this year. Kolodziej said this was the most controversial issue in South Elgin in the past four or five years.

Kolodziej said he still thinks the project is not right for the location, but last week's vote was only about whether the project met local, state and federal guidelines.

“Water retention, soil testing — everything passed muster,” he said. “A ‘no' vote would have basically opened us up to a lawsuit,” he said.

Sauceda and Barconi did not return requests for comment. Guess couldn't be reached.

Manning said the goal is to close on financing on Nov. 1, and break ground shortly after. “We're hoping to lease the first units in May or June, but there's no way to anticipate that because of the weather (for construction),” she said. The application process will be first-come, first-served, and will include a credit check and criminal check for every unit, Manning said. Applicants can reside anywhere, but the marketing effort for the property will focus on South Elgin.