Mayor: Wheaton's downtown on verge of development boom
Wheaton may be on the verge of a downtown economic development boom triggered in large part by the sale of the former Hubble Middle School site, Mayor Michael Gresk said Thursday.
The Hubble sale seems to have boosted interest in several long-vacant lots that could result in at least $100 million worth of development, Wheaton officials said after Gresk's annual State of the City address to the chamber of commerce.
Chicago-based Bradford Equities plans to build a Mariano's Fresh Market grocery store at the old Hubble site near Roosevelt and Naperville roads. Wheaton Park District is working with Bradford to gain control of 13 acres that lie in a flood plan at the site to use for recreational purposes.
After lauding that development, Gresk fielded questions about the former Jewel store at 114 E. Willow Ave., which has been vacant since 2008 and become an eyesore in the downtown.
He expressed his frustration at the “exorbitantly stupid high price” Jewel's parent company, Supervalu Inc., put on the property. In 2010, the price was reduced from $4 million to $3.25 million.
Gresk recently told the Daily Herald a contract is pending for the sale of the property. The prospective developer envisions tearing down the 20,000-square-foot structure and replacing it with a medical office building.
On Thursday, Gresk said the movement at the Jewel site probably wouldn't have happened without the Hubble sale.
“It's not rocket science,” he told chamber members at Arrowhead Golf Club. “Once Bradford and the park district stepped up and Hubble got sold, I think that sobered up the people at Jewel.”
As for the possible Jewel selling price, Gresk said he estimates “it's a whole lot less than $3.25 million.”
City council member Jeanne Ives said the sale of Hubble also played a key role in igniting other development projects like Morningside Equities Group's proposal for an apartment complex at 218 E. Wesley St. and a plan to bring an assisted-living facility to Courthouse Square, 201 Reber St.
“The result is we're seeing $100 million in development in the next two years,” Ives said.
Councilman John Rutledge said he's never seen that level of development downtown.
“I've been around town for 40 years, and I was here to watch the Danada development,” Rutledge said. “But in terms of downtown, never before. This is unprecedented.”