Extension granted for Wheeling town center plans
Plans to develop a Wheeling town center are slowly progressing, as developers presented an updated plan to trustees this week that includes an underpass.
Urban R2 Development Co. also got a four-month extension for submitting its final plan for approval, from Dec. 1 to March 31, 2012.
The anticipated town center, on the former Wickes Furniture site on Dundee Road, is expected to be a $120 million project with a large anchor store, smaller retailers, two residential towers, a greenway and parking.
The original master plan called for a new street, Market Street, to cross the Canadian National tracks at grade, opening up the town center to both sides of the tracks.
Metra, however, denied the request for the grade crossing, so Urban R2 had to rework the plans.
“We had to take a step back and rethink this plan and figure out a way to eventually open it up to the west side of the tracks,” said Brad Friedman of Urban R2.
The idea of making Market Street an underpass came out of those discussions and set planning back a few months. Friedman said he has not calculated the added costs of an underpass.
Renovation of the Metra station itself is still on the table, but at the bottom of the list of priorities, Friedman said.
“If we can get a new station then that’s something we’d still like to see as part of the development, but it’s at the bottom of the list,” he said. adding that a new Metra station does not bring in new revenue, like retail or apartments.
Friedman said he is confident in the project and ready to begin the formal process with Wheeling’s plan commission.
Wayne Caplan, who is handling leasing on behalf of Urban R2, has started reaching out to retailers for the large anchor location, which he said would ideally be a movie theater.
A theater would bring people in and attract other restaurants and stores, he said.
Caplan said he is encouraged by the interest he’s gotten from retailers, large and small.
“This isn’t a sprint, it’s a marathon in this environment,” he said. “But we have enough people who haven’t slammed the door in our face so I’m pleased with that.”
Developers said they plan to hold an open house in the next few months to present the plan to the public and take ideas before moving forward.
Wheeling has been trying to redevelop the 10-acre Wickes site since the village bought it in 2008 for $3.7 million.
Friedman said he still aims to have the town center open by summer 2014.
“I’d rather ask for the extension and get it right the first time, then have to go back and correct mistakes and throw more money into the project,” he said.
“This is a project that’s going to have a lasting effect on the community so we definitely don’t want to rush into anything.”