Hotel may be in mix for Vernon Hills' Town Center
In a tough market, developers of a gateway project on Vernon Hills' southern entry want to increase the possibilities of what can be built.
Vernon Hills Town Center LLC is seeking village approval to include a hotel as an allowed use at the ongoing project at Route 45 and Milwaukee Avenue.
"We've had interest from hotel operators," said John Thomas, president of Newport Builders Inc., a partner in the project. "We think we probably should have had that as an alternative use."
Vernon Hills Town Center has been approved as a mix of condos and retail uses. Adding a hotel would require a change in the agreement that details the overall plan.
Town Center has been in the works, as a concept, through approvals and now construction for about six years. The area and adjoining land being built as the Port Clinton Place residential community are designated by the village as a special taxing district.
Four row home buildings have been completed, and the roof and brick exterior of a seven-story residential building are being installed.
Together, the projects are intended to revitalize the area north and west of the intersection and serve as a centerpiece.
On the Town Center portion, work on a $700,000 signature water feature is well under way. A retail building, which will house a Starbucks and small restaurant is under construction and should be turned over to tenants by the end of the year.
The site also has been graded, and preparations are in the works to install a large parking lot. Underground parking and decking for the ground floor of what has been approved as an 80-unit condo building, has been completed.
In a separate request VHTC wants to add five units, or one per floor, for the condo building. The company is considering converting those from sale to rental, as the condo market has dried up, according to village staff.
"The intention would be to develop high-end rental units, similar to AMLI at Museum Garden," notes information provided to the village board. "By allowing rental units as an option, it does increase the developer ability to move forward to complete the building."
The village board, which considered the matter this week, appeared amenable to the changes. Trustees cautioned a hotel would have to be high caliber, preferably combined with an upscale restaurant.
"A hotel would not be a bad use. In fact, I think it would be a plus," Trustee Thom Koch said.
Koch and others noted hotels are among the best generators of property tax.
"In this overall marketplace, it's in everybody's best interest to have every opportunity to explore," said Stacy Taxman, who is seeking tenants for the Town Center.
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