Improved economy leads to reconsideration of idled Lakemoor subdivision plan

A plan for new homes in Lakemoor, approved seven years ago but derailed by the economic downturn, is expected to resurface more than seven years later in a revised form.

William Ryan Homes is revisiting the 58-home Savannah subdivision, approved by the village in 2006 for an area north of Route 120 and east of Darrell Road.

“With the market improving, we're planning on taking a fresh look at the previous plat that was approved for the subdivision,” said Nate Wynsma, vice president of land for the Schaumburg-based homebuilder.

The company, which has completed or is pursuing projects in several suburban communities, including Lake Villa, Island Lake, Barrington and Algonquin, is in discussions with Lakemoor officials regarding the 40-acre parcel. Ryan has built homes in Lakemoor Farms and the Pines of Lakemoor, and most recently purchased and is building on some lots in the Rockwell Place subdivision.

The original Savannah plan envisioned single-family homes priced from the mid-$200,000 to the mid-$300,000 range, said Matt Dabrowski, the village's director of community and economic development.

“The economy took a turn and residential construction kind of stopped and now it's starting to come back,” he said.

The new concept would feature a combination of traditional single-family homes as well as ranch styles for older buyers who are downsizing but don't want to live in a retirement community, according to Wynsma.

“It would be more of an enclave of maintenance-free homes that would blend in with the rest of the community,” he said.

The property is bordered on the north and west by wetlands and a flood plain. Wynsma said the property needs to be raised, which would require about 43,000 cubic yards of fill.

About 30 of the 40 acres of the Savannah property would be buildable.

“The next step is to obtain approval from the village to stockpile the structural fill and I'm hoping in the next few weeks to have a new concept plan,” he said.

The fill would be stored in an area outside the floodplain, Dabrowski said.

William Ryan would need to secure the appropriate local, state and federal approvals when they were ready to build on or regrade the site.

“In conjunction with this, they submitted a request to bring more fill or dirt to the site to bring a portion of it out of the flood plain,” Dabrowski said.

“The main concern is making sure we have the appropriate guarantees and control mechanisms in place,” that if development does not occur, the village can proceed with grading, he added.

Pending approvals, the developer wants to break ground next summer, Wynsma said.

The development area is directly north of the Krueger vegetable stand on an 8-acre commercial area fronting Route 120. That site is separately owned and not part of the William Ryan plan, Dabrowski said.