The future of a major downtown Winnetka development is up in the air after the village filed suit against the developer and took action to revoke the project’s approvals.
Winnetka officials are suing Developer David Trandel, alleging he allowed old buildings at his One Winnetka project site to become public safety and nuisance hazards, according to Winnetka Talk. The lawsuit is only one of the developer’s problems, however.
Trandel in 2015 proposed redevelopment of a square block in Winnetka, replacing older buildings with one complex that would house 36 apartments, 15 condos, seven townhomes and 30,000 square feet of commercial space.
The project received initial approval from Winnetka officials, but the village board this week voted to revoke the approvals, according to Winnetka Talk.
That’s because Trandel allegedly missed deadlines to buy the remaining properties on the site and has failed to show the village a financing package for the project.
He also let the existing buildings at the site fall into further disrepaper. Trespassing, the appearance of black mold, and littering have become an issue with the site, according to the village.
An attorney for Trandel told the village the developer has a contract to buy the remaining property and has secured funding for the project.
Trandel is CEO of real estate firms Stonestreet Partners and Springbank Capital Advisors. Springbank is working on a $320 million mixed-used project in Arlington Heights and is redeveloping a former Sears store on the North Side of Chicago.
[Winnetka Talk] — Joe Ward