Algonquin OKs upscale apartments

On average, it costs $2,000 to rent a studio apartment in the Big Apple.

But now, new apartments slated for Algonquin will come close to rivaling pricey Manhattan dwellings, with the most expensive flats costing $1,700 a month.

Luxury apartments that offer multiple amenities, promise to attract well-heeled tenants and lay out strict penalties for people breaking the rules, are officially coming to Algonquin.

Tuesday evening, after weeks of lengthy discussion, the board of trustees approved phase two of the 28-acre Esplanade addition, which includes 280 apartments.

The board also passed a resolution saying that amid density concerns, there would be no more residential development in the Algonquin Corporate Campus, which includes the Esplanade.

Tuesday's vote marked the first time trustees had approved apartments for the village.

Trustees had wrestled with including such a high number of apartments, particularly when developer Centerville Properties initially said they wouldn't need that many.

But ultimately, most trustees approved the project, citing fear of a missed opportunity in the current economy, a desire to attract more foot traffic to support struggling businesses and wanting a new way for people to move into town..

In doing so, they also signed off on an annexation agreement, issued special use permits and approved preliminary and final development plans.

As part of the deal, developers will pony up $2 million to the village for water and sewer connections and another $500,000 for its parks program.

"It's an ideal apartment complex for Algonquin," said Trustee Jerry Glogowski, who admitted the pending vote kept him tossing and turning for many nights. "Hopefully people in the luxury apartments who have money to spend, will spend it in our community."

The complex, comprised of 12 three-story buildings, will be just south of Algonquin Commons, the area's shopping mecca. The units average $1,400 a month in rent and carry strict guidelines for tenants found guilty of a crime or who engage in overcrowding. Both sets would face eviction.

The complex also will include a day care center and onsite management.

Those amenities were why developers said they needed 280 apartments to help pay for them, instead of the 160 they originally proposed.

That bothered Trustee John Spella, who voted against the measure, saying he was tired of developers changing their plans.

"That's not what was originally brought to us," Spella said of the project approved Tuesday.

Trustee Debby Sosine rejected the plan amid fears of losing green space.

Ann Danner, president of Residential Homes of America Inc., said she hopes construction begins in the early fall. It's expected to end within 16 months, she said.