Real estate firm Bradford Allen wants to transform an assemblage of parcels at the southeast corner of Arlington Heights and Algonquin roads in the northwest suburbs, starting with a new mixed-use housing development.
Bradford Allen has teamed up with architect Moceri + Rozsak to build an eight-story building with 300 apartments and nearly 25,000 square feet of ground-floor commercial space on a 3.7-acre lot in Arlington Heights, the Daily Herald reported. The structure would replace a five-story office building and three single-story commercial buildings that have been vacant for years.
The mixed-use project is part of a larger redevelopment plan that would span 16 acres and require additional property acquisitions, such as a Guitar Center shop and an office complex. The developer has proposed two more 300-unit apartment buildings at the site, or possibly a 200-room hotel and just one apartment.
Under Arlington Heights regulations, the developer will reserve about 30 of the units to be rented at rates officials deem affordable for households making no more than 60 percent of the area median income.
The project has received support from Arlington Heights officials, who have raised only minor concerns surrounding the redevelopment. Trustee Jim Tinaglia approved the developer’s high-density plan but is worried that 81 parking spaces for the retailers might be “a little light,” the outlet reported.
Arlington Heights Trustee Nicolle Grasse was satisfied by the developer’s commitment to meet the minimum affordable housing requirement, and applauded energy-efficient features, such as a proposed green roof and solar panels. Trustee Robin LaBedz liked how the layout was designed, as most of the 561 parking spaces would be hidden, but she wondered if apartment demand was strong enough in the area to justify such a large-scale multifamily project.
Bradford Allen is currently renovating the five-story, 153,000-square-foot former Daily Herald building it acquired, and marketing the space for potential medical use, the outlet said. It could take up to eight years to complete the redevelopment, assuming the project goes as planned.
For now, Bradford and Moceri + Rozsak are focused on the eight-story mixed-use building, which calls for a mix of 48 studios, 150 one-bedroom units, 90 two-bedrooms and 12 three-bedrooms, with rents ranging from $1,5000 to $4,000 per month. Bradford is trying to get Guitar Center to relocate to the first floor of the new building, along with restaurants and retailers.
— Quinn Donoghue
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