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TO: Mayor Richard C. Irvin
FROM: Planning and Zoning Commission
DATE: February 16, 2022
SUBJECT:
A Resolution Approving a Preliminary Plan for Lot 2A of the Second Resubdivision of Fox Valley East Region I Subdivision, Unit No. 1 on property located at the northeast corner of Fox Valley Mall, south of New York Street and west of Route 59 (Integrated Development II - 21-1032 / NA21/4-21.362-CUPD/PD/R/Ppn - TV - Ward 10)
PURPOSE:
The Petitioner, Integrated Development II, is requesting approval of a Preliminary Plan for Lot 2A of the Second Resubdivision of Fox Valley East Region I Subdivision, Unit No. 1 to allow for the construction of a senior development.
BACKGROUND:
The Subject Property consists of 7.79 acres lying at the northeast corner of the Fox Valley Mall. It currently is a surface parking lot, part of which serves the Fox Valley Mall and part of which served the now demolished Sears building. The property is currently zoned PPD Planned Development District, which is part of the Fox Valley East Planned Development District.
The owner, 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. In early 2021, they demolished the Sears building to make way for a future retail and residential development. In 2021, a multi-family residential development was approved by City Council and is now under construction.
Centennial has now teamed up with Integrated Development II to redevelop the Subject Property for a luxury senior housing development.
The Petitioner is requesting approval of a Preliminary Plan. The proposal includes the construction of a 5-story senior housing building which is comprised of 108 independent living units, 84 assiste...
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