Schaumburg celebrates start of ‘Main Street’-like development of The District at Veridian

Attendees of Tuesday’s groundbreaking ceremony for The District at Veridian, at the east end of Schaumburg’s former Motorola campus, got to see two months of progress on a nine-story apartment building above a ground-level restaurant and retail area.

Some referred to the event kicking off the 30-acre Main Street-like project as a “vertical celebration.”

Schaumburg Mayor Tom Dailly applauded the coming addition to the 225-acre Veridian property, where the transition from Motorola’s domination of the site at the southwest corner of Algonquin and Meacham roads began nine years ago.

“The District at Veridian is the next step forward to a true ‘Main Street’ that will anchor the 90 North District West,” Dailly said. “Phase one alone will deliver 321 new apartment units, more than 55,000 square feet of retail, a new Fresh Market grocery store, restaurants and a public parking structure with more than 800 spaces.”

He added the investment led by master developer UrbanStreet Group LLC and its partners would strengthen Schaumburg’s regional reputation as a quality place to live, visit and do business.

“Together we are shaping the future of Schaumburg, and I look forward to seeing The District at Veridian come to life in the years ahead,” Dailly said.

Bob Burk, managing partner of UrbanStreet Group, thanked Dailly and the village for being one of the redevelopment’s most important partners for nearly a decade. He said the unprecedented scope of the project was a challenge to convey and grasp at the start.

“This is a big day for our firm and a big day for the village,” he said. “These things do not occur without public-private partnerships. We’re excited to get this going.”

While some restaurant tenants already are signed on, Burk said he wasn’t yet ready to name them as the allocation of ground-floor space is still being worked out. The Fresh Market store, at the corner of Algonquin and Meacham, is expected to open in early 2027 with completion of the nine-story, mixed-use building to follow shortly after.

When all four phases are completed, The District is expected to include about 178,000 square feet of retail space, 91,000 square feet of restaurant space, 608,000 square feet of residential space and nearly four acres of open space.

The full Veridian development already features Topgolf, the Northgate at Veridian townhouses, the 260-unit Element at Veridian apartment building, the eight-story global headquarters of The Boler Co., and a 12-acre urban-style park that is being officially dedicated on Saturday.

Schaumburg Economic Development Director Matt Frank said The District is following those features because it’s the most challenging and expensive part as well as its ability to benefit from the customer base the prior residential developments provide.

Though The District’s 30 acres are a small part of Veridian’s overall 225-acre site, Burk said its density leads him to think roughly a third of the redevelopment work is still ahead.