What's Happening?
Flossmoor trustees have approved a revised plan for a townhome development on Flossmoor Road, a project that has been under consideration since December 2024. The development, proposed by BG Park Centre LLC, involves a 12-unit townhome complex at 2611-2633
Flossmoor Road. The property has been vacant for approximately 25 years. The initial proposal included 13 townhomes, a pocket park, and a café, but faced challenges during the village Plan Commission's review. Concerns were raised about the integration of the café and parking lot within the limited space, as well as issues related to engineering, architecture, and landscaping. Developers Byron Gregory and Gene Steinmarch revised the plan, relocating stormwater detention underground, eliminating the café, and increasing parking space. These changes received unanimous support from both the commission and the Board of Trustees. Mayor Michelle Nelson praised the updated plan, highlighting its improved design and potential long-term benefits.
Why It's Important?
The approval of this revised townhome plan is significant for Flossmoor as it addresses a long-standing vacancy in the area, potentially revitalizing the local economy and community. The project is situated in a tax-increment financing (TIF) district, which allows for the use of increased property value taxes to fund development expenses. This financial mechanism is crucial for making the project viable, as noted by Trustee Gary Daggett, who emphasized the necessity of such incentives in the current real estate market. The development is expected to enhance the local housing market, attract new residents, and stimulate economic activity. Additionally, the project aligns with broader urban development goals by utilizing vacant land and improving infrastructure, which can lead to increased property values and community growth.
What's Next?
Following the approval, the developers will proceed with construction, utilizing the amended redevelopment agreement that includes increased reimbursement rates for project costs. The agreement also permits the posting of a marketing sign on the property and the temporary storage of excavated soil, which may be used for future developments. The successful completion of this project could pave the way for further development initiatives in Flossmoor, as indicated by the developers' interest in continuing their work in the area. The local government and community stakeholders will likely monitor the project's progress closely, assessing its impact on the local economy and infrastructure.
