Apartments, storage for high-end cars proposed for downtown Barrington
Restaurants, luxury apartments and storage spaces for high-end and classic cars are envisioned for a proposed mixed-use development at Hough and Liberty streets in downtown Barrington.
Barrington resident Joe Taylor, CEO of Compasspoint Development, approached the village board Monday with plans to redevelop a 6.2-acre parcel that would combine the Goltra property, part of which was once a foundry, and the former McGrath Volvo dealership site.
His plans include a four-story building fronting Hough Street, with three levels of apartments above first-floor retail and restaurant space, all topped by a Mansard roof.
The 125 apartments would include one-, two- and three-bedroom units. Market research indicates they would attract empty nesters, people who are downsizing and those who wish to rent while a house is being built, Taylor said.
Taylor plans to own one restaurant there and have a third party operate it.
"We will tailor that restaurant for what is missing or lacking in the downtown Barrington market," he said.
Talks are underway to bring in a Mexican restaurant and a steakhouse to other spaces in the building.
The proposal also calls for 42 "commercial condominiums" on a separate part of the property that would provide storage for high-end car collectors. The concept is based on similar businesses like Iron Gate Motor Condos in Naperville and Big Door Mundelein.
"There's a vast quantity of people with a lot of money and, in turn, they have a lot of vehicles, and there's very limited opportunities within the village and within the surrounding areas where people have more than two- or three-car garages, and they have plenty of toys to park somewhere," Taylor said "So this is a high-end, luxury opportunity for those people to actually purchase units (and) outfit them the way they see fit under the certain guidelines that the village will allow."
Taylor, who has lived in Barrington since 2014, said the site is "a keen interest of mine."
"We have a very cute and quaint downtown," he said. "We aim to enhance what is already currently here."
Jennifer Tennant, Barrington's assistant director of development services, said the opportunity to redevelop the remaining property on the west side of Liberty Street as one comprehensive project is attractive.
Another advantage is the absence of a drive-through component, a feature of previous proposals for the site.
The next steps for the proposal will involve appearance and plan reviews, before the village board considers final approval.