.

Developer Plans Apartment Complex for Vacant Wesley St. Property

City Council will discuss proposed development on vacant lot and idea to allow purchaser to use some TIF dollars for project.

City Council will review plans Monday for a proposed apartment complex in downtown Wheaton at 218 Wesley Street, a block of vacant land bordered by Front Street, Scott Street, Wesley Street and Cross Street.

The property is under contract, according to listing agent Daniel Hyman. The purchaser, residential and retail developer Morningside Equities Group, Inc., is now in a "due diligence" period to determine the factors associated with the development of the site, according to City Manager Don Rose. Morningside has until Nov. 21 to tell the bank that owns the property whether it will proceed with the sale.

Morningside plans to build a 300-unit apartment complex on the 2.6-acre site, and will discuss with City Council the utilization of TIF monies for the project.

"I think there will be support for this," said Wheaton Mayor Mike Gresk. However, council members will want to know how much in TIF monies Morningside will want and how they plan to use it, he added.

The bank-owned property is listed for $5.5 million, according to the city's website. The complex, according to Mary Ellen Martin of Morningside in a letter to Gresk, would include a courtyard with barbeque and social recreation areas; a theater; a fitness center; bike storage; residential storage; a community room with catering kitchen and a business center.

The six-story development would also include heated, enclosed parking for approximately 400 cars in an interior, two-level concrete parking structure, Martin wrote.

Council will review the plans submitted by Morningside Monday, Nov. 7 at , 303 Wesley Street.

Impartial Observer November 09, 2011 at 05:13 PM
Aren't you forgetting about Adams Park which is an entire cityblock diagonally across from this property? Wheaton, like all municipalities in Illinois, need property tax generating developments and people living downtown to patronize the local businesses.
Charlotte Eriksen November 09, 2011 at 09:14 PM
David, you're right. I was only referring to parks with playgrounds. Adams Park is a great park though and will be a great view, and resource/destination, for the future residents.
CAROLE November 10, 2011 at 01:58 AM
JUST A THOUGHT---BUT WHAT IS REALLY NEEDED DOWNTOWN FOR THE RESIDENTS PRESENT AND FUTURE--IS----A GROCERY AND DRUG STORE!!!!! AT THE PRESENT TIME---ONLY DANADA AND MAIN/GENEVA ROAD--HAVE THESE.
Impartial Observer November 10, 2011 at 02:11 AM
Mariano's, a high-end grocery chain, has announced their plan to build a store on the Hubble School site adjacent to downtown. Your wish will be granted! http://triblocal.com/wheaton/2011/07/01/developer-plans-to-build-marianos-grocery-in-downtown-wheaton/
Charlotte Eriksen November 10, 2011 at 02:21 AM
Yup, thanks David. I'm gonna go ahead and plug one of the many stories we reported on that as well... http://patch.com/A-jZF8.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »