There's activity again at Vernon Hills gateway
The long-awaited southern gateway to Vernon Hills is nowhere near complete, but renewed activity has village officials guardedly optimistic.
Roti Mediterranean Grill and a Starbucks opened about three weeks ago, and progress has resumed on another major building in the Vernon Hills Town Center, a mix of condos and retail uses at Milwaukee Avenue and Route 45.
A clay liner and other work associated with a $700,000 signature water feature is about to begin. The massive retaining wall was installed last year.
"There's a lot of work to be done, but that is one of the focuses," of the developer's spring work, said John Kalmar, assistant village manager.
From concept through approvals and construction, redevelopment of the area has been ongoing for more than six years.
Perhaps best known locally as the former site of the Half Day Inn, the adjoining property is designated as a tax increment financing district.
That designation freezes property taxes at predevelopment levels. Taxes from the increased value are paid into a special fund used for roads and other amenities.
"There's TIF money right now (but) it's substantially less than what we hoped for," Kalmar said. "We're continuing to be optimistic that TIF revenues will be substantially more," a year from now.
Town Center, the adjoining Port Clinton Place residential development and the existing Philly G's restaurant are being incorporated as a unified project, including roads, parking and detention areas.
Retail spaces on the lower level of a six-story building to include 80 luxury condos in the Town Center portion are taking shape.
"We've got a 15-month schedule but I've got retail tenants already leased," said Stacy Taxman, of The Taxman Corporation, which is developing the project.
Sam Martirano Salon & Spa of Glenview has chosen the spot for its second location and will occupy about half the available space, Taxman said.
"There was never any question in our minds this entire development would not go forward," she said. "In spite of the economy and the commercial market, we are dedicated to this development."
The residential units will be rentals for a few years and converted to condos when the market improves.
Last fall, Taxman received approval for a hotel use on the site, but that idea has been dropped. The area will be targeted for more retail uses or a medical building, Taxman said.
Work has stopped at Port Clinton Place, planned for 132 luxury condos and 47 townhouses, Kalmar said. That project is about half complete, he said, and sales are sluggish.
"It's a tough market," he said. "There's only so much you can do."
Landscaping for Philly G's will begin soon, although a planned expansion is on hold.