Upscale apartment complex heading to Winfield's Town Center
Winfield officials are poised to approve plans for a $35 million luxury apartment complex that's expected to bolster Town Center by adding foot traffic and increasing its business potential.
Trustees responded positively Thursday to Synergy Construction Group's plan to construct the Winfield Station apartments on the former Winfield Fuel & Material Co. site immediately south of the train tracks along Winfield Road.
The village board is expected to vote this month on preliminary plans, a special use request and a redevelopment agreement. The plan commission already has recommended approval.
"This is the kind of project we've been looking for in our Town Center for a long time," Village President Erik Spande said.
The roughly 5.4-acre property has been vacant since 2013, when the family-run Winfield Fuel & Material closed after more than a century in business. Officials have been pushing for a residential project to support Northwestern Medicine Central DuPage Hospital's efforts to create a medical and commercial district.
Chicago-based Synergy wants to construct a five-story, L-shaped building that would contain 163 units. It would have 15 efficiency units, 90 one-bedroom units and 58 two-bedroom units. Amenities would include a fitness/clubhouse on the ground floor and an outdoor swimming pool.
Officials call the project a "transit-oriented development" because of its proximity to the train station.
"It's anticipated many tenants will be commuters," said Peter Krumins, community development coordinator. Because CDH is nearby, he said, "it's also likely that there will be employees of the hospital that would be happy to live there and just walk to work."
There will be two entrances - one on Winfield Road and the other off Beecher Avenue.
Winfield's zoning ordinance normally would require a 163-unit multifamily development to have 326 parking spaces. But because many of Winfield Station's tenants won't rely on cars to get to work, the plan calls for 224 spaces.
Trustees asked about a variety of topics, including stormwater, parking and the Winfield Road entrance. Still, their comments were positive.
"I want to say welcome," Trustee Carl Sorgatz said to the developer. "I really am very pleased to see the proposal."
The developer is asking for economic incentives. The property is in a tax increment financing district, where property taxes above a certain point are funneled into development rather than to local governments and which is set to expire in about nine years.
As part of a proposed redevelopment agreement, the village would waive $430,000 in permit fees and give the developer $100,000 from the TIF fund when a final occupancy certificate is issued.
In addition, the developer would get roughly 90 percent of the TIF money the project generates. Officials say that would be acceptable because the complex isn't expected to be on the tax rolls until 2021 and the TIF ends in 2028.
Village Manager Curt Barrett said the incentives will pay for themselves through revenue generated by the complex.
"It also addresses a strategic village goal of building residential density in our Town Center, which will better support restaurants and retail business," Barrett said.