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Apartments approved for downtown Lake Zurich

A revised plan that includes only apartments has been approved by Lake Zurich's elected officials in an attempt to revitalize the village's downtown.

Village board trustees Monday night voted 5-1 in favor of a redevelopment agreement with Foxford Communities and the plan for the 48 one- and two-bedroom apartments on the northwest corner of Old Rand Road and Main Street. Five single-family townhouses had been planned but were removed to accommodate the village's request for more parking.

Under the deal, Foxford will pay $270,000 for the 1.35-acre site, part of what's called Block C, after the village absorbs expenses to bury aboveground utilities on the site. Foxford must invest roughly $350,000 to build a small park and make other streetside improvements.

"I really think the downtown has a lot of merit or we wouldn't be here," said Tim Kellogg, a property consultant with Hinsdale-based Foxford.

Work on the two apartment buildings, dubbed The Streets of Somerset, is expected to begin in the spring.

Similar to a public hearing before the advisory planning and zoning commission last month, some residents in neighboring condominiums raised concerns Monday about the project causing their property values to decline and questioned why the village is not pursuing retail development for the site as originally envisioned.

Alex Samoila, a resident of the Lakeview Place condominiums also built by Foxford, questioned the apartments and whether retail development would follow if a residential base grows downtown. He also raised concern about Foxford finding tenants for the apartments.

"The lack of public transportation and mass transit in the area is going to be an issue for the typical type of renter," Samoila said.

Trustee Marc Spacone and other officials said given the lack of development over several years, it now seems more likely commercial projects won't occur until more residents live downtown.

Spacone expressed disappointment in listening to residents voice concerns about renters living downtown or in apartments that might be built on the site of a long-closed Kmart on Rand Road, across from Paulus Park. He said young professionals with student debt and seniors looking to downsize are among those with reasons to rent.

"I'm having residents convey a message that's kind of bothersome to me on a certain level," Spacone said. "They're worried about 'those people' moving into our community, which really tells me there is a level of intolerance that exists in our community for 'those people.'"

Tuesday, Samoila said he was disappointed the village board declined to consider feedback from 492 Lake Zurich residents who responded to an online survey he distributed. He said the feedback included concern about a lack of transparency by the village regarding downtown proposals and seemingly no clear vision for what should be built there.

Since 2002, Lake Zurich has had a special taxing district in place to revitalize downtown by providing a funding source to pay for property purchases, make general improvements and assist with other development-related costs. Lake Zurich spent an estimated $16 million on property purchases in the district, including Block C in 2004, but its development was stymied by the economic downturn.

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  A revised plan that includes only apartments has been approved by Lake Zurich's elected officials in an attempt to revitalize the village's downtown. The project will be on the northwest corner of Old Rand Road and Main Street. Paul Valade/pvalade@dailyherald.com
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