Tallest building in South Elgin coming to village center
Two residential construction projects - including the tallest building in the village at four stories high - are expected to break ground within the next few weeks in South Elgin's village center.
Panton Mill Station will have 100 one- and two-bedroom apartments on four stories at 355 N. La Fox St. (Route 31) between Kane and Stone streets. The developer will purchase and raze two buildings on the property.
The developer, Synergy Construction Group of Chicago, will build a bus stop shelter at Route 31 and Kane Street, and a band shell and possibly a public bathroom - pending water and sewer connection - at Panton Mill Park, where Riverfest Express takes place every August, South Elgin Director of Community Development Marc McLaughlin said.
The developer is getting up to $2.5 million in tax increment financing money over the next eight years, the remaining life span of the Village Center TIF district, McLaughlin said. The village is getting about $500,000 in park impact fees and $1.2 million in building permit fees, he said. "It is a really good deal for the village," he said.
"(Higher density) is what our Village Center Master Plan calls for," he said. "At the village board meeting it was said this would be a catalyst for future development."
Philip Domenico of Synergy Construction Group said the $19 million project preliminarily was named Fox View at the River, but the final decision was to call it Panton Mill Station. Amenities will include an outdoor grilling area, business center, gym, and dog wash by the entrance.
"From the start it was a partnership with the village in an attempt to revitalize their downtown area," he said. "So many times I think other projects are in the back of strip malls or less than desirable locations, and this is a beautiful downtown South Elgin project right on the river."
Domenico said he expects to break ground Aug. 1, and construction is estimated to last 16 to 18 months.
Already a waiting list
Marison Mill Suites at 126 Center St., just north of Mill Street, will be a three-story, 70-unit building with affordable housing for people 55 and older.
The developer is The Burton Foundation, based in Sterling, which in 2015 built Water's Edge just to the north for low-income residents and residents with disabilities.
The project will include no more than $2.2 million in TIF money over the remaining life span of the Village Center TIF district, McLaughlin said.
The building already has a waiting list, Foundation Executive Director Tracey Manning said. "When we built Water's Edge, it filled up immediately and we had lots of folks coming up to us saying, 'We are over 55 and we'd like to live in a community like Water's Edge,'" Manning said. "That's what kind of catapulted us into looking at the development of Marison Mill."
Final village board approval for the plan is expected July 2. Manning said she expects to break ground by the end of next month with construction lasting 14 months.
The developer will put decorative sidewalks and lighting along Center Street. A traffic study warranted no additional stop signs or stop lights in the area, McLaughlin said.
The Kane County Forest Preserve District is planning to buy a sliver of land west of the development where the Fox River Trail runs, McLaughlin said. That's the last stretch of Fox River Trail that remains on private property, he said.