Norwood Builders cleared to develop 361-unit resi complex

Chicago /
May.May 14, 2019 01:20 PM
A rendering of the Arlington 425 project (Credit: Village of Arlington Heights)

A rendering of the Arlington 425 project (Credit: Village of Arlington Heights)

Norwood Builders has been approved to develop a 361-unit apartment complex in downtown Arlington Heights that will be the village’s largest new construction in two decades.

Arlington Heights village officials voted Monday night in favor of the three-building, $150 million Arlington 425 project, according to the Daily Herald.

The project calls for a nine-story, 182-unit building with commercial space on the bottom two floors on Campbell Street;a 13-story, 125-unit apartment building on Highland Avenue that will include a six-story parking garage; and a four-story, 54-unit apartment building facing Chestnut Avenue.

The long-vacant parcel once was home to Paddock Publications, owner of the Daily Herald. Norwood bought the property in 2000 but development of the land stalled when the recession hit. The firm has been working since last year to win village approval for the Arlington 425 project.

To do so, it agreed to set aside 18 of the 361 units as affordable housing. It also will pay a total of $225,000 to a village housing trust fund in order to get out of building nine more affordable units. The affordable units would rent for $889 for a studio, compared to $1,385 otherwise.

Construction is expected to start early next year, and the project could take four years to complete. [Daily Herald]John O’Brien


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