cover
TO: Mayor Richard C. Irvin
FROM: Planning and Zoning Commission
DATE: November 5, 2020
SUBJECT:
A Resolution Approving a Preliminary Plan on Lot 2 of the First Resubdivision of Fox Valley East Region I Unit No. 1 located on east side of the Fox Valley Mall, west of Route 59, and south of New York Street (Centennial Real Estate Company - 20-0276 / NA21/4-18.004-SUPD/Rz/Ppn - TV - Ward 10)
PURPOSE:
The Petitioner, Centennial Real Estate Company, is requesting approval of a Preliminary Plan on 11.11 acres for property located on the east side of the Fox Valley Mall, west of Route 59, and south of New York Street for Multi-Family Dwelling (1140) Use to allow for the construction of a multiple family residential development.
BACKGROUND:
The Subject Property is a portion of the former Sears parcel within the Fox Valley Mall area. The property is currently zoned PDD Planned Development District, which is currently part of the Fox Valley East Planned Development District.
The Petitioner, Centennial Real Estate Company ("Centennial"), purchased the Fox Valley Mall in 2015. Then in 2018, a partnership controlled by Centennial purchased the Sears' and Carson's Site after falling into bankruptcy. Since then, Centennial has been making substantial investments essential to the Mall's revitalization including the remodeling of the mall center. As part of these efforts, they are also in for permits to demolish the Sears building to make way for a future retail and residential development.
The Petitioner is requesting approval of a Preliminary Plan. The proposal consists of three 3-story multiple family residential buildings, private amenities, and two associated 1-story covered parking structures on 11.11 acres. The proposed multiple family residntial buildings consists of a total of 304 units. The proposed unit breakdown is 26 studios, 192 1-bedrooms, and 86 2-bedrooms. A total of 456 parking spaces are being proposed with 71 tuck-under parking garage...
Click here for full text