Hoffman Estates preparing for influx of high-end apartment and townhouse proposals
Hoffman Estates officials are readying themselves for an increased demand for high-end apartments and townhouses.
Between the recently approved 296-unit Seasons at Hoffman Estates apartment complex at the southeast corner of Higgins Road and Moon Lake Boulevard and inquiries to the village from developers, as many as 2,700 multifamily housing units could be added to limited number that exists today.
"For Hoffman Estates, this isn't a product (upscale apartments ands townhouses) that exists right now," Village Manager Eric Palm said.
The developers of Seasons recognized the demand for such housing from longtime village residents who were moving west because of the lack of options in town, Palm added.
Rather than addressing all the coming proposals individually, the village board held a meeting this week specifically to bring its members up to speed on the changes in the housing market.
"As these things come in, it was important for the board to have data," Palm said.
That included the results of a study by Schaumburg-based real estate consultant Tracy Cross & Associates, which concluded that the Hoffman Estate market can support at least several of the proposals and inquiries coming its way.
As much residential and commercial development as it's already seen, the sprawling village still has significant land available for development.
One of the next steps in the preparation process is to share the village's data with others local governments that would feel an impact from significantly more multifamily housing, such as school, park and library districts.
Data shows that the type developments under consideration don't add as many school-age children to the community as single-family homes do, Palm said.
Mayor Bill McLeod added that such high-end housing is a lifestyle choice of people who want to either be free of the maintenance responsibilities of a single-family home or have the freedom to move more quickly for work or other reasons. Apartment-dwelling is no longer exclusively the financial necessity it often was for earlier generations.
"We want to offer people another choice in how they want to live," McLeod said.
Even as village officials are taking the long view, individual proposals are coming in quickly.
Bell Works Chicagoland at the former AT&T campus is in the process of getting its long touted plan for townhouses outside its commercial hub reviewed and approved, with an accompanying plan for apartments to follow.
And another courtesy review for multifamily housing, this time at Barrington Square, will come before the village board later this month, Palm said.
He and McLeod said that done right, multifamily housing can have a positive impact on the local economy, helping new and existing businesses thrive by providing more customers.