Luxury homebuilder proposes condominiums in Inverness

The village of Inverness could be left with just two remaining parcels of open, buildable land if a luxury homebuilder's plans come to fruition.

Palatine-based Dior Builders, Inc. hopes to build 29 detached single-family condominiums on 20 acres along Dundee Road, across from Barrington Middle School's Prairie Campus.

The Inverness Plan Commission voted 4-1 this week to recommend the proposed Fountain View development to the village board, which could vote on Dior's planned unit development as soon as January.

“This is one of the last places to build in the area,” Dior owner Peter Di Iorio said. “We're envisioning a gated community with an international flair and homes that exhibit a European, Old World look.”

Exactly when potential buyers can start designing their semi-custom luxury condos will depend largely on the economic turnaround and consumer response, said Di Iorio, who'd ideally like to break ground next year.

Due to market uncertainty, the village extended the deadline Dior has to submit final plans to three years instead of two.

In the meantime, Dior the developer behind the adjacent Glencrest subdivision must negotiate an amendment to an existing intergovernmental agreement for Barrington's sewer and water service.

Road improvements also have to be made so that the traffic light at Prairie Campus serves Fountain View as well. The builder is responsible for all associated costs.

The condos will range in size from 2,500 to 5,000 square feet. In addition to green features, they'll be healthy homes a recent trend focusing on air quality through the use of chemical-free materials such as insulation made up of recycled denim jeans instead of fiberglass.

Di Iorio said it's premature to provide a price range on the condos, but he's confident there's a market for buyers “looking for something smaller that's a BMW, not a Chevy.”

If Fountain View is built, Village Administrator Curt Carver said, one of the only remaining vacant buildable land in Inverness is eight acres owned by the village at the southwest corner of Palatine and Ela roads. The other, 40 acres at Algonquin and Ela roads, belongs to Palatine Township Elementary District 15. In 1999 the district paid $3.2 million for the land, which could one day serve as home to a new school.