Tuesday, May 8, 2012
Wheaton officials agree to pay through TIF to bury power lines at a downtown development property, and wait to fund the rest of the proposed public improvements until after an occupancy permit is secured by the developer for the luxury apartment complex.
Wheaton officials agreed the city should wait to pay for most of a developer’s public improvements until the end of construction—when there is no doubt people will live in the proposed luxury apartment complex in downtown Wheaton. The city will assist Morningside Equities, LLC, the developer planning to build Wheaton 121, a 300-unit complex at 218 Wesley Street with Tax Increment Financing (TIF) District 2 funds for public improvements, including public plazas, street lighting, curb improvements and public benches. City Manager Don Rose sought council direction for staff Monday night to determine how the city would provide the TIF funds for the project, which could start next month. Rose proposed the city pay an estimated $500,000 …
41.866105
-88.108426
218 W Wesley St, Wheaton, IL
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Friday, February 3, 2012
Grant will foot most of the $3 million bill to purchase gyms at Hubble.
The Wheaton Park District will use a grant of more than $2 million to pay for its half of the former Hubble school building, Mike Benard, executive director of the Wheaton Park District, said. The grant money was originally going to pay for the former Jewel property because the district anticipated a loss of the indoor athletic space at Hubble when the Community Unit School District 200 sold the property. Gov. Pat Quinn’s office in October announced it awarded the Park and Recreational Facility Construction (PARC) grant to the park district for a new acquisition in the “Central Park area,” referring to the former Jewel property, 114 Willow Ave., to be converted to an indoor athletic facility. The park district was one of 22 agencies that …
Friday, January 20, 2012
Wheaton Mayor Mike Gresk talks strategy at annual State of the City Address, says Hubble development has mobilized other projects.
Wheaton Mayor Mike Gresk on Thursday delivered his annual State of the City Address to outline the city’s goals, including plans to establish a strategic economic development plan by 2013. Gresk said the city plans to reduce retail vacancies in Wheaton and increase net property values by 2015, and establish a strategic economic development plan for downtown by January 1, 2013 and a strategic economic development plan for all of Wheaton by July 1, 2013. Click to sign up for the Wheaton Patch newsletter In a challenging economy businesses have closed in Wheaton and there is "little growth," Gresk said. However "little" is more than nothing, as major projects on the horizon include the redevelopment of the former Hubble school site, a movie …
Friday, January 13, 2012
Neighbors of the development and interested residents will have an opportunity to ask questions, address concerns Saturday, Jan. 21.
Representatives from the Wheaton Park District, Bradford Equities LLC and engineering firm V3 Infrastructures next Saturday will present plans for the future of the old Hubble school site for curious neighbors and Wheaton residents. The Wheaton Park District sent 270 invitations to neighbors in close proximity of the development Wednesday for an “advance presentation” of the project plans for upgraded facilities and a Mariano's Fresh Market, which will be presented to City Council at a planning session Monday, Feb. 13. Jim Kozik, director of economic development for the City of Wheaton said city staff expects Bradford, the site's developer, to submit its completed application Friday for a Planned Unit Development (PUD) approval for the …
Saturday, November 26, 2011
Patch recaps top stories from the week of Nov. 20-25.
Wheaton Police Warn Residents of Phone Scam After five separate reports of phone scams from Wheaton residents, police warned residents Tuesday of potential scams to take money via telephone. Local Families Struggle to Put Food on the Table Families' economic struggles continue and nowhere are woes more evident than at local food pantries. Developer to Proceed in Sale of Downtown Property, Apartment Complex Construction Morningside Equities will purchase 218 E. Wesley St., a vacant lot in downtown Wheaton after doing its homework on what development of the property would entail. The developer will build a 300-unit apartment complex, and has requested $2.3 million in TIF monies from the city. City to Condemn More Than 100 Fireplaces …
Monday, November 21, 2011
Morningside Equities passes due diligence period that ends today, plans to close on 218 E. Wesley St. by end of 2011 or early 2012.
A developer will proceed in its deal to purchase 218 E. Wesley St. in downtown Wheaton after completing a due diligence period that ends Monday, Mary Ellen Martin, senior development manager for Morningside Equities Inc., said. Morningside Equities, a Chicago-based firm which plans build a 300-unit apartment complex on the vacant, bank-owned lot, will close on the property by the end of the year or in early 2012, Martin said. Construction would begin in 2012. To proceed with the deal, Morningside needed assurance it would receive support from the city for costs related to public improvements and negotiating impact fees. Morningside presented its vision for the property to City Council in a Nov. 8 meeting as part of its due diligence to …
Charlotte Eriksen
3:06 pm on Friday, January 13, 2012
Thanks for commenting, Joe. I'm not sure what the access road looks like. I'm sure your input would be appreciated at the meeting. more ›