Algonquin Trustees Tour Apartment Developments, Meet Contractors

ALGONQUIN, IL — Could a new apartment development be coming to Algonquin? It's a possibility. On Tuesday, members of the Committee of the Whole took a bus tour to look at several apartment complexes in the region.

They looked at design, neighborhood context, amenities, costs and more.

"There has been an increased number of proposals and concepts from developers for this type of development in recent years in Algonquin," said Michael Kumbera, Algonquin assistant village manager.

During the tour, members viewed the Maple Street Lofts project in Mount Prospect and the Element at the Veridian project in Schaumburg.

The Maple Street Lofts is a mixed-use transit-oriented development on a six-acre downtown site. The proposed planned unit development is 14,000 square foot of retail/restaurant/entertainment uses and includes a mix of both luxury apartments and single-family attached rowhomes. It will also include 268 structured parking spaces in a village-owned public parking garage.

Meanwhile, the Veridian project will be comprised of 350,000 square foot of new retail, including shops, restaurants, a grocer, and theater. The overall master-planned site will also include over 200 townhomes, new office buildings, residential buildings, and a 10-acre public park.

According to Kumbera, the tour of these projects is intended to help the board and staff get a better feel for the marketplace.

After the tour concluded, members discussed the pros and cons of the two apartment projects over lunch with Nicholas and Associates, a full-service construction contractor. No formal action has been taken yet, Kumbera said.

Anyone with questions about the bus tour can contact Community Development Director, Jason Shallcross at 847-658-5785.