Townhouses proposed for Vernon Hills Town Center
An area targeted for redevelopment in Vernon Hills more than a decade ago could receive a new look.
Taxman Corp. of Skokie is seeking approvals to allow for construction of 18 townhouses to be known as Commons II on the last vacant property in the Vernon Hills Town Center, a mix of restaurants, shops and residences at routes 45 and 21 that has been 15 years in the making.
The village's planning and zoning commission will review the proposal at 7:30 p.m. Wednesday at village hall, 290 Evergreen Drive.
Taxman, which has a long involvement in the Town Center and other projects in the area, last year received approval for 80 apartments in a six-story building on the 1.25-acre site in a tax increment financing district. In a TIF district, increased tax revenue generated by development of a property goes to a special fund for development-related expenses rather than to various taxing districts.
Taxman had sought $3.5 million in upfront assistance to build the original version of Commons II but was told there was no money available. Last October, Taxman told the village board the 80-unit building was no longer viable because of higher financing and construction costs and lower demand.
Village officials in November reacted favorably a revised plan with fewer residences that would require less parking and reduce pressure on elementary schools serving that area.
Commons II is part of the Port Clinton Place planned unit development, which was authorized by the village in 2006 for 47 townhouses and 132 condos in two buildings. Only one of the condo buildings and 20 of the townhouses were built.
In 2015, the village provided the Vernon Hills Park District with $1.5 million to buy the former Opa restaurant property at Lakeview and Hawthorn parkways from Taxman. That allowed Taxman to buy the remaining vacant Port Clinton Place properties. Taxman sold the townhouse piece to Lexington Homes, which completed the remaining 27 townhouses.