An update on the six proposals that were introduced for the downtown transit-oriented development (TOD) project in December was presented to the board at the Jan. 13 meeting.
According to Homewood Economic and Community Development Director Angela Mesaros, the six proposals consisted of mixed-use or residential for either one or both locations: 2024 Chestnut Road, which is currently being used as the Village Hall parking lot, and 2066 Ridge Road, referred to as the Matrix Building.
After interviews with each of the developers to determine design, parking, and incentive requests were conducted, the six proposals were reduced to four. HCF Homewood withdrew their proposal due to financing and the Larger Than Life Foundation/DCEO did not comply with the village’s current zoning regulations or the vision for TOD development, Mesaros said.
According to Assistant Economic and Community Development Director Noah Schumerth, the first of the four that remain is Granite Realty Partners, which proposes development for both sites. For 2024 Chestnut Road, it would like to develop a four-story apartment building with 78 apartments. The ground floor under the building would be for parking, consisting of 70- 80 spaces for residents and 20-30 for public use. The second floor would have a large outdoor amenity deck along with additional amenities.
For the Matrix site, it would like to develop a five-story building with 42 apartments and 6,000 square feet of commercial space, and 12 parking spaces behind the building, Schumerth said.
The second developer, Southland Development Authority, proposes a building called The Watertower with 85 apartments with 2,000 square feet of commercial space for a cafe/restaurant and retail. It would include 158 parking spaces, plus a rooftop terrace with outdoor amenities and public plaza with outdoor seating, Mesaros said.
For the Matrix site, it proposes a building called The Line, which will consist of 22 apartments and 2,400 square feet of commercial space, plus 34 parking spaces. This also includes a rooftop amenity terrace and a public plaza, Mesaros said.
Holladay Properties proposes a mixed-use concept as well, originally focusing on the Chestnut Road site but now also for the Matrix site. It proposes a five-story building with 110 apartments and 2,000 square feet of commercial space, along with 140 parking spaces and an amenity deck on the second floor and a plaza on the corner of Harwood and Chestnut, Schumerth said.
The developer is interested in turning the Matrix site into a mixed use retail-focused area. However, this would require acquisition of surrounding properties, Schumerth said.
The final proposal is from Far South Community Development Corporation. It proposes a four-story mixed-use building with 72 apartments and 11,300 square feet of commercial space for a grocer. Originally, parking spaces were not included in the plan. After revision, it will now include covered parking spaces, 72 for residents and visitors, and 30 for public safety and other village vehicles, Mesaros said.
On Ridge and Harwood, the developer proposes a five-story building with 39 apartments and 6,700 square feet of commercial space for grocer or other use with the same parking arrangement, Mesaros said.
Representatives from the four development teams introduced themselves to the board and provided background on their firms, including prior-mixed use projects in the Chicago area, and emphasized experience working with municipal partners.
While all of the proposals are relatively similar, the goal is to choose the project that best fits Homewood. Staff will use a criteria checklist to evaluate the proposals and present the results at a future meeting, Schumerth said.
The final proposal selection will take place at the Feb. 10 meeting, Mesaros said.
For more details on each proposal, visit homesweethomewood.com.
