The Homewood Village Board voted in favor of Holladay Properties, with the exception of Trustee Lauren Roman, for the downtown transit-oriented development (TOD) project at the March 10 meeting.
The village received six proposals for redeveloping the sites of the village hall parking lot at 2024 Chestnut Road and the Matrix Building at 2066 Ridge Road. It selected three finalists: Holladay Properties, Far South Community Development Corporation and Southland Development Authority.
Holladay Properties was initially chosen on a 5-1 vote by the board, with the exception of Roman, as the preferred developer at the Feb. 10 meeting. Since then, all development teams had a chance to take resident feedback into consideration and implement revisions into the proposals.
“In my opinion, Holladay is the developer to take Homewood into the future where all walks of life … will live in our community and go forward,” Trustee Vivian Harris-Jones said.
“I know that it’s a major change and it’s not to everyone’s liking,” Trustee Julie Willis said, adding, “I’ve supported Holladay’s proposal in large part because of their sense of experience and their intent to maintain the management long-term.”
Trustee Jay Heiferman, who also expressed support for Holladay, agreed that there is a parking shortage, but disagreed on the importance for green space in regard to this project. He was responding to criticism of the Holladay proposal from some residents.
“I think we have lots of open space in the downtown area — we have Martin Square, we have wide sidewalks in areas of downtown. I just don’t think there’s a shortage of gathering space for non-residents of the buildings to gather,” Heiferman said.
“My vote is Holladay. They’re the most responsive, I think they’re the most professional, nothing against the other ones, they just have the experience with these TOD projects, that’s all there is to it,” Trustee Patrick Siemsen said.
Trustee Phillip Mason also supports Holladay Properties due to their experience, but is very concerned with the parking situation, he said.
Homewood Economic and Community Development Director Angela Mesaros and Homewood Assistant Economic and Community Development Director Noah Schumerth presented suggestions from the parking study that was conducted for the village in 2019. It recommends that the village change to a decentralized parking approach, which can be accomplished through acquiring shared parking agreements and new lots.
“I heard what Noah and Angela said about the study saying decentralized parking is the way to go. I’d like to know more about that. I don’t agree necessarily,” Mason said, adding, “I will not sign a redevelopment agreement after its completed if there is not actual parking accommodations made that are suitable for the community.”
Roman, who opposed the proposal by Holladay Properties, shared a different viewpoint on the project overall.
“The Matrix Building clearly needs redevelopment, and I believe that project should move forward without the village hall parking lot being developed,” Roman said, adding, “I also can’t think of a single village hall that doesn’t have a parking lot.”
The village hall parking lot spaces are too useful to be eliminated, she said.
“I will add that I think that our next step should be a town hall with our community before we move forward with one developer,” Roman said.
Now that a developer has been selected, the next step is for the board to hold a public hearing for the Harwood TOD Tax Increment Financing District at the April 14 meeting, Mesaros said. The TIF district would provide financial support for the project.
Between March and May, a redevelopment and purchase and sale agreement will be completed, along with planning and zoning reviews with Holladay Properties between March and June, Mesaros said.
